JPMorgan: Bitcoin ETP Fund Concentration Surges, Weekly Net Outflows Reach $1.126 Billion

TechFlow reports that, according to Chaoxiang Research, JPMorgan’s September 8, 2026 research note states that on September 4, U.S. spot Bitcoin ETPs saw a net outflow of $175 million, Ethereum ETPs recorded a net inflow of $9 million, and Solana ETPs experienced a net outflow of $5 million. The three major product categories combined saw a net outflow of $1.126 billion for the week, marking a slight slowdown compared to the previous two weeks. Inflows were highly concentrated, with BlackRock IBIT posting a single-day inflow of $118 million and Fidelity FBTC receiving $57 million, while all other products registered zero inflows. Significant internal offsetting was evident within Ethereum ETPs, as BlackRock ETHA attracted $58 million in inflows, while Fidelity FETH saw outflows of $48 million. Total assets under management for Bitcoin ETPs stand at $101.25 billion.

JPMorgan notes that cumulative net inflows into Bitcoin ETPs amount to approximately $58.2 billion, and roughly $12.6 billion for Ethereum, with early allocation capital yet to witness large-scale withdrawals. Top issuers have absorbed nearly all new capital, with fee differentials being a key driver of this concentration. Although weekly outflows have slowed, the overall trend remains unaltered; capital flow data following the resumption of trading on September 8 will serve as the critical observation point.