隨著機構投資者情緒轉變，比特幣 ETF 需求反彈，創 6 個月高點

經過數週的低活躍度後，對美國現貨比特幣交易所交易基金（ETF）的需求已經反彈。資金流入的激增標誌著經濟的轉變

Demand for the U.S. spot Bitcoin Exchange-Traded Funds (ETF) has surged again after weeks of low activity. The shift in institutional investors’ sentiments is evident, with market participants optimistic about further price gains. Those who were此前回避直接接触比特币的人，现在将这种币视为一种受监管的投资工具。

Demand for the US spot Bitcoin Exchange-Traded Funds (ETF) has surged again after weeks of low activity. The shift in institutional investors' sentiments is evident, with market participants optimistic about further price gain wose, with market participants optimistic about further price gain wose.的人，現在將這種幣視為一種受監管的投資工具。

CryptoQuant analysis on Bitcoin ETF Demand

CryptoQuant 對比特幣 ETF 需求的分析

In an earlier post, CryptoQuant founder Ki Young Ju highlighted the impressive performance of Bitcoin ETFs. He noted that demand has reached a 6-month high, with net inflows記録 totaling 64,962 BTC over the last 30 days.

在之前的一篇文章中，CryptoQuant 創辦人 Ki Young Ju 強調了比特幣 ETF 的令人印象深刻的表現。他指出，需求已達到 6 個月來的高點，過去 30 天的淨流入總量為 64,962 BTC。

The last time Bitcoin ETFs saw comparable figures was in April, when the coin was trading above $72,000. However, the subsequent bearish price trend impacted ETF flows negatively.

比特幣 ETF 上次出現類似數據是在 4 月份，當時該幣的交易價格高於 72,000 美元。然而，隨後的看跌價格趨勢對 ETF 流量產生了負面影響。

Throughout most of May, spot Bitcoin ETFs saw holdings decline, which corresponded with the coin’s initial retracement below the $56,000 level. But this trend quickly shifted, with positive inflows reaching monthly highs from June to August before a decline began in early September.

在整個 5 月的大部分時間，現貨比特幣 ETF 的持股都在下降，這與比特幣最初回撤到 56,000 美元以下的水平相對應。但這種趨勢很快就會轉變，6 月至 8 月的正資金流入達到月度高點，然後在 9 月初開始下降。

On September 18, the U.S. economy saw a historic interest rate cut, which helped reverse the downturn. Since then, bullish inflows have continued and recently reached a six-month high.

9月18日，美國經濟出現歷史性降息，扭轉低迷局面。此後，看漲資金持續流入，並於最近達到六個月高點。

Recent fund flows

近期資金流向

According to recent data from Farside Investors, the Bitcoin ETF market is experiencing a major uptrend. Notably, daily net inflows reached an impressive $188 million on October 24. It’s worth noting that these ETFs have only seen a single day of outflows since October 11.

根據 Farside Investors 的最新數據，比特幣 ETF 市場正在經歷大幅上漲趨勢。值得注意的是，10 月 24 日每日淨流入達到令人印象深刻的 1.88 億美元。

During Thursday’s market session, total inflows were recorded at $188 million. BlackRock’s spot Bitcoin ETF, IBIT, stood out by attracting the majority of total inflows with $165.5 million. With this inflow, IBIT’s net assets increased to $23.69 billion, showcasing the fund’s strong performance.

在周四的市場交易中，總資金流入達到 1.88 億美元。貝萊德的現貨比特幣 ETF IBIT 脫穎而出，吸引了大部分資金流入，達 1.655 億美元。隨著資金的流入，IBIT的淨資產增加至236.9億美元，展現了該基金的強勁表現。

Bitwise’s BITB followed with daily inflows amounting to $29.6 million. Grayscale’s GBTC saw outflows of $7.1 million, while other funds saw no new investments. Additionally, the spot ETFs saw net inflows of $192 million on Wednesday. Again, BlackRock’s IBIT led the way with inflows of $317.5 million.

Bitwise 的 BITB 緊隨其後，每日流入量達 2,960 萬美元。 Grayscale 的 GBTC 資金流出 710 萬美元，而其他基金則沒有新的投資。此外，現貨 ETF 週三淨流入 1.92 億美元。貝萊德的 IBIT 再次以 3.175 億美元的資金流入領先。

Institutions with Bitcoin ETF portfolio

擁有比特幣ETF投資組合的機構

This market has seen prominent Wall Street firms revealing their massive positions. In the second quarter of 2024, Goldman Sachs reported holding over $400 million in seven of the 11 spot Bitcoin ETFs.

在這個市場上，著名的華爾街公司已經揭露了他們的大量部位。 2024 年第二季度，高盛報告稱，在 11 隻現貨比特幣 ETF 中，有 7 隻持有超過 4 億美元的資金。

Moreover, Morgan Stanley also increased its holdings, opening new positions in six other funds worth roughly $189 million, with nearly all of that exposure being in BlackRock’s IBIT.

此外，摩根士丹利還增持了其他六隻基金，價值約 1.89 億美元，其中幾乎所有曝險都在貝萊德的 IBIT 中。

In other developments, Wells Fargo expanded its holdings beyond Grayscale’s GBTC, disclosing ownership of 37 shares in the ProShares Bitcoin Strategy ETF (BITO). Additionally, JPMorgan reported investments in BTC ETFs, including IBIT, BITB, FBTC, and Grayscale’s GBTC, which were valued at $731,246.

在其他事態發展中，富國銀行將其持有量擴大到 Grayscale 的 GBTC 之外，披露了 ProShares 比特幣策略 ETF (BITO) 37 股的所有權。此外，摩根大通還報告了對 BTC ETF 的投資，包括 IBIT、BITB、FBTC 和 Grayscale 的 GBTC，價值為 731,246 美元。

Amidst this broad institutional backing, the price of Bitcoin has remained resilient around the $67,000 price level. If demand continues at this pace, it could propel the price towards its previous all-time high of $73,750.

在廣泛的機構支持下，比特幣的價格在 67,000 美元的價格水平附近保持彈性。如果需求繼續以這種速度成長，可能會推動價格升至先前的歷史高點 73,750 美元。