JPMorgan: Strategy is the main driver of Bitcoin capital inflows

Mars Finance news, according to a report by CoinDesk, JPMorgan released a report saying that in Q1 2026, the total inflow of digital assets was about $11.0 billion, which annualizes to about $44.0 billion—roughly one-third of the same period in 2025. Analysts including Nikolaos Panigirtzoglou noted that retail and institutional investors saw lower inflows or even net outflows; in Q1, most inflows came from Strategy’s bitcoin purchases and from concentrated crypto venture capital funding. The overall crypto market declined in Q1, with total market capitalization down by about 20%, bitcoin down by about 23%, and ETH falling by more than 30%. The selloff was driven by macroeconomic and geopolitical pressures, and altcoins fell more sharply. Prices stabilized toward quarter-end, and bitcoin consolidated around $70k. The report said that CME futures open interest for bitcoin and ETH had weakened compared with 2024 and 2025; spot bitcoin and ETH ETF flows showed net outflows in Q1, mainly concentrated in January, while bitcoin ETF inflows rebounded in March. Strategy remained the main buyer, primarily funding bitcoin purchases through equity issuance, while other holders were comparatively more cautious, with some selling bitcoin to fund share buybacks. Bitcoin miners were net sellers during the quarter. Crypto venture capital funding annualized at a higher pace than the previous two years, but remained concentrated in a small number of large deals, with funds continuing to flow into infrastructure, stablecoins, payments, and tokenization.