JPMorgan’s digital asset research team has laid out a notably bullish case for crypto in 2026, projecting that capital inflows into Bitcoin and the broader digital asset market will surpass the roughly $130 billion that flooded in during 2025.

That 2025 figure itself represented approximately a 33% jump from the prior year, fueled largely by retail investors piling into Bitcoin and Ether ETFs and corporations stuffing their treasuries with crypto. JPMorgan’s analysts now believe 2026 will top even that, with the mix tilting decisively toward institutional players.

Where the money came from in 2025

More than half of last year’s inflows, roughly $68 billion, came from what the bank calls digital asset treasury…