JPMorgan: January cryptocurrency ETF inflows rebound, market sell-off pressure may have eased

JPMorgan analysts indicate that following the capital outflows in December, the fund flows for cryptocurrency ETFs are stabilizing. The report led by Nikolaos Panigirtzoglou points out that despite a record inflow of $235 billion into global equity ETFs, Bitcoin and Ethereum ETFs still experienced outflows last month.

Currently, indicators such as ETF fund flows and perpetual futures market positions suggest that the selling pressure in the cryptocurrency market may be easing. Analysts believe that the recent pullback in the cryptocurrency market is primarily due to investors' risk-averse behavior following MSCI's announcement of potential index removals in October, rather than a deterioration in market liquidity. MSCI's decision not to remove Bitcoin and cryptocurrency financial companies in the global equity benchmark review scheduled for February 2026 may further support market stability.