Report Estimates $50 Billion Inflow into Crypto Market in 2023, Momentum Improves in Q4

J.P. Morgan analysts released a report estimating that approximately $50 billion has flowed into digital assets since the beginning of 2023, annualizing to about $66 billion, which is higher than the $52 billion reported in May but still about half the pace of last year. The report noted that ETF fund flows have improved since August, turning into net inflows for the year. Institutional positions in CME Bitcoin and Ethereum futures have rebounded over the past two months, with publicly listed companies being the main buyers, while Bitcoin miners have net sold approximately $1.8 billion this year. Analysts believe that the increase in ETF fund flows and futures positions in the third quarter brings positive funding momentum for the fourth quarter.

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