比特幣減半引發投資人不安，引發數位資產投資資金外流

CoinShares 報告顯示，數位資產投資產品經歷了總計 2.06 億美元的大幅流出，其中比特幣佔 1.92 億美元。這恰逢近期比特幣減半，引發投資人擔憂。以太坊也出現了 3,400 萬美元的資金外流。然而，區塊鏈股票已連續11週出現資金流出。

Bitcoin Halving Spurs Fear, Outflows in Digital Asset Investments

比特幣減半引發恐懼，數位資產投資資金外流

As the historic Bitcoin halving event drew to a close, a recent report has revealed that this pivotal moment for the cryptocurrency industry has triggered concerns among investors, leading to significant outflows from digital asset investment products.

隨著歷史性的比特幣減半接近尾聲，最近的一份報告顯示，這項加密貨幣行業的關鍵時刻引發了投資者的擔憂，導致數位資產投資產品出現大量資金流出。

A report published by CoinShares, a leading provider of digital asset investment products, indicates that these products have experienced outflows for the second consecutive week, reaching a total of $206 million, up from $106 million the previous week. This trend coincides with the approach and subsequent occurrence of the Bitcoin halving on April 20, which saw the halving of mining rewards. The report suggests that investors may be apprehensive about the potential consequences of this halving.

領先的數位資產投資產品提供商CoinShares發布的報告顯示，這些產品連續第二週出現資金流出，資金總額達2.06億美元，高於前一周的1.06億美元。這一趨勢與 4 月 20 日比特幣減半的臨近和隨後的發生相吻合，減半導致挖礦獎勵減半。該報告表明，投資者可能對減半的潛在後果感到擔憂。

The outflows have been predominantly concentrated in Bitcoin, with $192 million worth of outflows recorded. Ethereum followed with $34 million worth of outflows. According to CoinGecko data, Bitcoin experienced a 9% decline during the previous week.

資金外流主要集中在比特幣，記錄的資金外流價值為 1.92 億美元。以太坊緊隨其後，流出價值 3,400 萬美元。根據 CoinGecko 數據，比特幣上週下跌 9%。

Beyond Bitcoin, exchange-traded funds (ETFs) and funds that invest in blockchain equities such as MicroStrategy, Square, and Coinbase have also experienced 11 consecutive weeks of outflows, totaling $9 million. This aligns with data from Farside Investor, which reported a record-tying five-day outflow from Bitcoin ETFs last week.

除了比特幣外，交易所交易基金（ETF）以及 MicroStrategy、Square 和 Coinbase 等投資區塊鏈股票的基金也連續 11 週出現資金流出，總計 900 萬美元。這與 Farside Investor 的數據相符，該公司上週報告稱，比特幣 ETF 的五天資金流出創歷史新高。

Notably, this negative sentiment is primarily concentrated in U.S. ETFs, which witnessed $244 million worth of outflows last week. In contrast, other countries such as Canada and Switzerland have experienced moderate inflows. The report attributes this disparity to reports suggesting that the Federal Reserve Board (FED) is unlikely to lower interest rates this year, which may be dampening the appetite for ETPs/ETFs.

值得注意的是，這種負面情緒主要集中在美國 ETF 上，上週該類 ETF 資金流出價值 2.44 億美元。相較之下，加拿大和瑞士等其他國家的資金流入量不大。該報告將這種差異歸因於有報告指出聯準會今年不太可能降低利率，這可能會抑制對 ETP/ETF 的興趣。

Despite investor concerns that the halving would negatively impact miners, preliminary data indicate otherwise. According to Blockchain.com, miner daily revenue surged from $71 million the day before the halving to $107 million on the day of the event.

儘管投資者擔心減半會對礦商產生負面影響，但初步數據顯示並非如此。據 Blockchain.com 稱，礦工日收入從減半前一天的 7,100 萬美元飆升至活動當天的 1.07 億美元。

This surge is partly attributed to the launch of Runes, a new rival to the ERC-20 Bitcoin token standard. Projects have been raising funds to become among the first 10 runes engraved onto the Bitcoin network. For instance, Runestone raised over $140,000 for network fees to secure its position as one of the early runes. The project subsequently claimed to have etched the third Rune with the inscription "DOG•GO•TO•THE•MOON."

這一激增的部分原因是 Runes 的推出，這是 ERC-20 比特幣代幣標準的新競爭對手。該項目一直在籌集資金，以成為首批刻在比特幣網路上的 10 個符文之一。例如，Runestone 籌集了超過 14 萬美元的網路費用，以確保其作為早期符文之一的地位。該項目隨後聲稱已蝕刻出第三個符文，上面刻有“DOG•GO•TO•THE•MOON”字樣。

The Bitcoin halving event has highlighted the potential for market volatility and uncertainty. While investor concerns are understandable, it remains to be seen how the long-term implications of this halving will shape the cryptocurrency landscape.

比特幣減半事件凸顯了市場波動和不確定性的可能性。雖然投資者的擔憂是可以理解的，但減半的長期影響將如何塑造加密貨幣格局仍有待觀察。