新發行人推動比特幣 ETF 交易量激增

3 月比特幣 ETF 交易量激增，達到 1,110 億美元，自 1 月首次亮相以來幾乎增加了兩倍。這一飆升歸因於投資者對新 ETF 發行人的興趣，貝萊德 (BlackRock) 超過灰階 (Grayscale) 成為交易量最大的公司。灰階比特幣信託（GBTC）經歷了大幅資金外流，但最近出現放緩，而 ARK 的首次大規模資金外流引起了分析師的擔憂。總體而言，ETF 資金流入已顯示出復甦，由於投資者興趣仍然高漲，這種趨勢可能會在 4 月繼續下去。

Bitcoin ETFs Witness Surge in Trading Volume, Attributing to New Issuers

新發行人推動比特幣 ETF 交易量激增

The advent of Bitcoin Exchange-Traded Funds (ETFs) has sparked significant investor interest, leading to a surge in trading volume. In March alone, Bitcoin ETFs saw an impressive $111 billion in trading volume, nearly tripling the figures recorded in January, when these ETFs made their debut in the United States.

比特幣交易所交易基金（ETF）的出現激發了投資者的巨大興趣，導致交易量激增。光是 3 月份，比特幣 ETF 的交易量就達到了令人印象深刻的 1,110 億美元，幾乎是 1 月份這些 ETF 在美國首次亮相時記錄的交易量的三倍。

The surge in trading volume can be attributed to the entrance of new ETF issuers into the market, attracting a broader pool of investors. Grayscale Bitcoin Trust (GBTC), which was the dominant ETF in January, faced significant outflows, while BlackRock's iShares Bitcoin Strategy ETF (IBIT) emerged as the largest ETF in terms of trading volume in March.

交易量的激增可歸因於新的 ETF 發行人進入市場，吸引了更廣泛的投資者。 1 月占主導地位的 ETF 灰階比特幣信託 (GBTC) 面臨大幅資金流出，而 BerRock 的 iShares 比特幣策略 ETF (IBIT) 成為 3 月交易量最大的 ETF。

April's Prospects for Bitcoin ETFs

四月比特幣 ETF 的前景

In the wake of March's record-breaking trading volume, analysts speculate on the potential for April to deliver even higher results. The maturing investor base, growing institutional integration, and slowing outflows from GBTC indicate positive trends. However, the direction of Bitcoin prices may also play a significant role in determining the activity of Bitcoin ETFs.

繼 3 月交易量創紀錄之後，分析師猜測 4 月可能會帶來更高的業績。日趨成熟的投資者基礎、不斷增長的機構整合以及 GBTC 資金流出放緩都表明了積極的趨勢。然而，比特幣價格的走向也可能在決定比特幣 ETF 的活動方面發揮重要作用。

Bitcoin ETF Trading Volume

比特幣ETF交易量

According to Bloomberg Intelligence, the trading volume of Bitcoin ETFs surged to $111 billion in March, marking a substantial increase from $40 billion in February and $35 billion in January. Notably, GBTC accounted for the majority of the trading volume in January, while IBIT gained traction in February.

根據 Bloomberg Intelligence 統計，3 月比特幣 ETF 交易量飆升至 1,110 億美元，較 2 月的 400 億美元和 1 月的 350 億美元大幅成長。值得注意的是，GBTC 佔據了 1 月交易量的大部分，而 IBIT 在 2 月獲得了成長。

Grayscale Bitcoin Trust Outflows

灰階比特幣信託資金外流

Despite the robust trading volume, Grayscale Bitcoin Trust (GBTC) experienced significant outflows since its January debut. However, BlackRock's IBIT has seen a surge in volumes.

儘管交易量強勁，但灰階比特幣信託（GBTC）自 1 月首次亮相以來仍經歷了大幅資金外流。然而，貝萊德的 IBIT 交易量卻出現激增。

Bitcoin ETF Inflows Show Signs of Recovery

比特幣 ETF 資金流入顯示復甦跡象

CoinShares' recent Digital Asset Fund Flows Weekly Report suggests that inflows into Bitcoin ETFs are showing signs of recovery, despite a decline in trading activity. In the week ending March 29, total inflows reached $1.8 billion, with Bitcoin accounting for $865 million. This is a significant improvement compared to the previous week's $931 million outflows.

CoinShares 最近的數位資產基金流量週報顯示，儘管交易活動有所下降，但比特幣 ETF 的資金流入卻顯示出復甦的跡象。截至 3 月 29 日當週，資金流入總額達 18 億美元，其中比特幣流入 8.65 億美元。與上週 9.31 億美元的流出相比，這是一個顯著的改善。

Market Outlook

市場展望

With Bitcoin's price recovering from a dip below the crucial $65,000 level, analysts remain optimistic about the prospects for Bitcoin ETFs in April. The maturing investor base, growing institutional adoption, and slowing outflows from GBTC paint a positive picture for the broader market. The direction of Bitcoin prices will also be a key factor in determining the activity of Bitcoin ETFs in the coming month.

隨著比特幣價格從低於 65,000 美元的關鍵水平回升，分析師對 4 月比特幣 ETF 的前景仍然樂觀。成熟的投資者基礎、不斷增長的機構採用以及 GBTC 資金流出放緩，為更廣泛的市場描繪了一幅積極的圖景。比特幣價格的方向也將是決定未來一個月比特幣 ETF 活動的關鍵因素。