JPMorgan questions the sustainability of $12 billion in cryptocurrency inflows

Golden Finance reported that JPMorgan analysts have raised concerns about the sustainability of the $12 billion inflow into cryptocurrency assets so far this year. They point out that while much of the money has been transferred through spot Bitcoin exchange-traded funds (ETFs), given the currently high price of Bitcoin relative to production costs and gold, they are skeptical about the sustainability of the capital inflow. Despite the potential for annualized net inflows to reach $26 billion according to this trend, analysts remain skeptical, which is consistent with their early concerns about the approval of spot Bitcoin ETFs attracting new capital into the cryptocurrency space.