The banking giant kept track of retail Bitcoin flows going through Square and PayPal. Institutional flows were monitored via CME Group’s bitcoin futures market. While retail investors accumulated 187,000 Bitcoin in Q1, institutional investors purchased around 173,000 units of the leading digital asset.
Comparatively, retail investors acquired 205,000 BTC last quarter while institutional players bought nearly 307,000. JPMorgan explained:
According to the data shared by JPMorgan, itBit daily volumes nearly doubled between Q4 2020 and Q1 2021. itBit is PayPal’s crypto provider. The same applies to Bitcoin transactions on Square. Meanwhile, the activity from the CME Group (NASDAQ:CME) increased slightly from 1,284 to 1,449.
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