The bank’s reduced estimate of $8 billion is comprised of a $14 billion net flow into crypto funds by July 9, Chicago Mercantile Exchange (CME) futures flows of $5 billion, $5.7 billion of fundraising by crypto venture capital funds year-to-date, minus a $17 billion adjustment to account for the rotation from wallets on exchanges to new spot bitcoin exchange-traded-funds (ETFs).
Crypto Market Rebound Expected in August, Liquidations to Finish By July-End: JPMorgan
