產業情緒參差不齊，比特幣 ETF 出現淨流出

週二，現貨比特幣交易所交易基金（ETF）淨流出 5,803 萬美元，其中灰階比特幣信託基金（GBTC）淨流出 7,938 萬美元。儘管如此，貝萊德的 iShares 比特幣信託 (IBIT) 仍錄得約 2,578 萬美元的淨流入，顯示加密 ETF 市場中的投資者情緒存在差異。然而，彭博分析師 James Seffart 強調，零流量在 ETF 市場上很常見，大多數 ETF 在任何一天的流量都為零。

Bitcoin ETFs Experience Net Outflows Despite Mixed Sentiment

儘管市場情緒參差不齊，但比特幣 ETF 仍出現淨流出

Amidst a volatile crypto market landscape, spot Bitcoin exchange-traded funds (ETFs) witnessed a significant net outflow on Tuesday, indicating a shift in investor sentiment towards the digital asset class.

在加密貨幣市場格局波動的情況下，現貨比特幣交易所交易基金（ETF）週二出現大幅淨流出，顯示投資者情緒轉向數位資產類別。

According to data from SoSoValue, the Grayscale Bitcoin Trust (GBTC) recorded the most substantial outflow, with $79.38 million exiting the fund. This outflow adds to its already staggering historical net outflow of $16.46 billion, raising concerns among investors.

根據 SoSoValue 的數據，灰階比特幣信託基金 (GBTC) 的資金流出量最大，有 7,938 萬美元退出該基金。這項資金外流進一步加劇了本已高達 164.6 億美元的歷史淨流出規模，引發了投資者的擔憂。

In contrast, BlackRock's iShares Bitcoin Trust (IBIT) emerged as the lone bright spot, recording a net inflow of approximately $25.78 million. This disparity in investor behavior highlights the varied sentiment within the crypto ETF sphere.

相較之下，貝萊德的iShares比特幣信託（IBIT）成為唯一的亮點，錄得約2,578萬美元的淨流入。投資人行為的這種差異凸顯了加密 ETF 領域內的不同情緒。

James Seffart, a Bloomberg analyst, offers a broader perspective on the ETF market, noting that zero flows are a common occurrence. "On any given day, the vast majority of ETFs will report a flow number of ZERO—this is perfectly normal. With around 3,500 ETFs in the US, yesterday 2,903 had a flow of exactly zero," explains Seffart.

彭博分析師詹姆斯·塞法特 (James Seffart) 對 ETF 市場提供了更廣泛的視角，指出零流量是一種常見現象。 「在任何一天，絕大多數 ETF 都會報告流量為零，這是完全正常的。美國大約有 3,500 只 ETF，昨天有 2,903 只 ETF 的流量恰好為零，」Seffart 解釋道。

Thus, while the outflows in certain Bitcoin ETFs may appear concerning, it is crucial to recognize that zero flows are the norm in the broader ETF landscape.

因此，雖然某些比特幣 ETF 的資金流出可能令人擔憂，但認識到零流量是更廣泛的 ETF 領域的常態至關重要。

Bitcoin Mining Companies Face Challenges amidst Halving

比特幣礦業公司在減半面臨挑戰

Concurrently, Bitcoin mining companies are grappling with intensified pressures due to the impending Bitcoin halving. The halving, scheduled for April 2024, will reduce the block reward for Bitcoin miners by 50%, potentially impacting their profitability.

同時，由於比特幣減半即將到來，比特幣挖礦公司正面臨更大的壓力。計劃於 2024 年 4 月進行的減半將使比特幣礦工的區塊獎勵減少 50%，這可能會影響他們的獲利能力。

Shares of major mining companies, including Marathon Digital Holdings Inc. (MARA), Riot Platforms Inc. (RIOT), and CleanSpark Inc. (CLSK), have been on a downward trajectory over the past three days. This decline mirrors the recent plunge in the Valkyrie Bitcoin Miners ETF, which has lost roughly 28% of its value this month alone.

Marathon Digital Holdings Inc. (MARA)、Riot Platforms Inc. (RIOT) 和 CleanSpark Inc. (CLSK) 等主要礦業公司的股價在過去三天一直處於下跌趨勢。這一下跌反映了 Valkyrie 比特幣礦工 ETF 最近的暴跌，光是本月該基金的價值就損失了約 28%。

Compounding these challenges is the rising short interest in mining stocks and a general risk-off sentiment triggered by geopolitical tensions, following Iran's attacks on Israel.

令這些挑戰更加複雜的是，伊朗襲擊以色列後，礦業股的空頭興趣不斷上升，地緣政治緊張局勢引發了普遍的避險情緒。

Future of Digital Assets Conference to Provide Insights

數位資產的未來會議提供見解

The financial dynamics within the Bitcoin ecosystem and the resilience of the mining sector will be key topics of discussion at Benzinga's upcoming Future of Digital Assets event on November 19.

比特幣生態系統內的金融動態和採礦業的彈性將成為 Benzinga 即將於 11 月 19 日舉行的「數位資產的未來」活動中討論的關鍵話題。

This conference will bring together leading experts and industry stakeholders to analyze these trends and their long-term implications on the digital assets market. Attendees will have the opportunity to gain valuable insights and perspectives on the evolving landscape of Bitcoin and other digital assets.

本次會議將匯集領先的專家和行業利益相關者，分析這些趨勢及其對數位資產市場的長期影響。與會者將有機會獲得有關比特幣和其他數位資產不斷發展的格局的寶貴見解和觀點。

Conclusion

結論

The net outflows in spot Bitcoin ETFs and the challenges faced by mining companies indicate a period of uncertainty in the crypto market. However, it is important to recognize that zero flows are common in the ETF market and that the upcoming Bitcoin halving is a known event that has been factored into the market's valuation.

現貨比特幣 ETF 的淨流出以及礦業公司面臨的挑戰表明加密貨幣市場正處於一段不確定時期。然而，重要的是要認識到，ETF 市場中零流量很常見，而且即將到來的比特幣減半是一個已知事件，已被納入市場估值。

Investors should remain vigilant and monitor the unfolding events as the Benzinga Future of Digital Assets event promises to provide valuable insights into the trajectory of the digital asset market.

投資者應保持警惕並關注正在發生的事件，因為 Benzinga 數位資產的未來活動有望為數位資產市場的發展軌跡提供有價值的見解。