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JPMorgan Says Bitcoin ETFs Could Attract $36 Billion Of Capital

In a new research report, analysts at JPMorgan Chase (JPM) say that the new Bitcoin (BTC) exchange-traded funds (ETFs) could attract $36 billion U.S. of capital from investors.

While the JPMorgan analysts acknowledge that it’s unclear how much capital will pour into the new spot Bitcoin ETFs, they say it is likely to be a significant amount of money.

The bank says there will be a significant rotation from existing crypto products into the newly created ETFs, and that they could attract inflows of up to $36 billion U.S.

JPMorgan sees up to $20 billion U.S. migrating from digital wallets at cryptocurrency exchanges into the 11 new spot Bitcoin ETFs that have been given regulatory approval in America.

Another $10 billion U.S. of crypto capital could migrate towards cheaper spot Bitcoin ETFs, says the bank in its analysis.

Since the Bitcoin ETFs began trading on Jan. 11, the price of Bitcoin has fallen to $42,750 U.S. from $49,000 U.S, with traders now eyeing support for the digital asset at around $40,000 U.S.