While the crypto markets saw $12 billion Net inflows this year, JP Morgan stated that the majority of $16 Billion inflows in Spot Bitcoin ETFs came from existing digital wallets on exchanges and is skeptical that the pace of inflows will continue for the rest of the year. Analysts believe there has been a significant rotation away from digital wallets on exchanges to the new spot bitcoin ETFs as evidenced by the drop in bitcoin reserves across exchanges since the launch of spot ETFs in January. If the digital assets net inflows continue at the same pace, it could grow to $26 billion at the end of the year.

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