比特幣現貨 ETF 在市場動盪中打破記錄

過去一周，比特幣回檔了 4%，但現貨 ETF 繼續蓬勃發展，創下新紀錄。它們的成功已成為一個反覆出現的主題，引發人們猜測美國證券交易委員會 (SEC) 可能會重新考慮其對現貨比特幣 ETF 的立場。同時，更廣泛的市場趨勢是積極的，通膨降溫，股指表現良好。 2024 年第一季度，美國的交易所交易基金 (ETF) 吸引了 1,960 億美元的資金，其中比特幣現貨 ETF 推動了這一成長。然而，隨著投資者轉向更可贖回的產品，灰階的 GBTC 出現了資金外流。

Bitcoin Spot ETFs Continue to Smash Records Amidst Market Correction

比特幣現貨 ETF 在市場調整中持續打破紀錄

Despite a recent dip in Bitcoin's value, spot exchange-traded funds (ETFs) linked to the leading cryptocurrency are continuing to post astounding gains, establishing new records. The success of these ETFs has been so consistent that it's almost tempting to simply reiterate last week's headlines: "Breaking News: Bitcoin Spot ETFs Are a Colossal Success." Nonetheless, it's worth emphasizing the remarkable impact these products have had on the financial landscape, in the hope that regulators will finally acknowledge their transformative potential.

儘管比特幣的價值最近有所下跌，但與領先的加密貨幣相關的現貨交易所交易基金（ETF）仍在繼續取得驚人的收益，創造了新的記錄。這些 ETF 的成功是如此一致，以至於人們很容易重複上週的頭條新聞：“突發新聞：比特幣現貨 ETF 取得了巨大的成功。”儘管如此，值得強調的是這些產品對金融格局的顯著影響，希望監管機構最終能認識到它們的變革潛力。

A Banner Start for ETFs in 2024

2024 年 ETF 的開局

From a macroeconomic perspective, 2024 has been a year of positive indicators. Inflation has begun to ease, interest rate hikes have been paused, and stock markets have generally performed well. These favorable conditions, coupled with increased financial literacy, have spurred widespread interest in investing.

從宏觀經濟角度來看，2024年是積極指標的一年。通膨開始緩解，升息暫停，股市普遍表現良好。這些有利的條件，加上金融知識的提高，激發了人們廣泛的投資興趣。

This enthusiasm has translated into a surge in ETF inflows, with a staggering $196 billion pouring into these funds in the United States alone during the first quarter of 2024. This marks the second-highest quarterly inflow on record, and the introduction of Bitcoin spot ETFs has played a pivotal role in this remarkable growth.

這種熱情轉化為 ETF 資金流入的激增，光是在美國，2024 年第一季就有 1,960 億美元流入這些基金。這標誌著有記錄以來第二高的季度資金流入，同時比特幣現貨 ETF 的推出在這一顯著增長中發揮了關鍵作用。

Bitcoin Spot ETFs Dominate the Landscape

比特幣現貨 ETF 佔據主導地位

BlackRock's IBIT, a prominent Bitcoin spot ETF, has emerged as the undisputed leader in the market. However, it's worth noting that other ETFs are also experiencing significant inflows, indicating a broad-based demand for these products.

貝萊德旗下的 IBIT 是一款著名的比特幣現貨 ETF，已成為市場上無可爭議的領導者。然而，值得注意的是，其他 ETF 也出現了大量資金流入，顯示對這些產品的需求廣泛。

Despite the impressive growth of crypto-related ETFs, it's important to acknowledge that a significant amount of money is still leaving the market. Grayscale's GBTC, which once held over $23 billion in assets, is expected to see its holdings dwindle to below $10 billion this year as investors seek out more cost-effective and redeemable options.

儘管加密貨幣相關 ETF 的成長令人印象深刻，但重要的是要承認仍有大量資金正在離開市場。 Grayscale 的 GBTC 曾經持有超過 230 億美元的資產，隨著投資者尋求更具成本效益和可贖回的選擇，預計今年其持有量將減少至 100 億美元以下。

Ether ETF Hopes Rekindled

以太坊ETF重燃希望

While the prospects of an Ether ETF approval have faced setbacks in recent months, the Securities and Exchange Commission (SEC) has finally initiated a three-week public comment period for applicants. This positive development has rekindled hope within the industry that an approval could materialize as soon as May.

儘管近幾個月來以太 ETF 的批准前景遇到挫折，但美國證券交易委員會 (SEC) 最終為申請人啟動了為期三週的公眾評議期。這項積極的進展重新點燃了業界的希望，最快五月就能獲得批准。

Conclusion

結論

The continued success of Bitcoin spot ETFs is a testament to the growing acceptance and institutional adoption of digital assets. While the regulatory landscape remains challenging, the momentum behind these products is undeniable. As investors seek diversification and exposure to the burgeoning crypto market, the demand for Bitcoin spot ETFs is likely to intensify, further cementing their status as a transformative force in the financial world.

比特幣現貨 ETF 的持續成功證明了數位資產的接受度和機構採用率不斷提高。儘管監管環境仍然充滿挑戰，但這些產品背後的動力是不可否認的。隨著投資者尋求多元化和接觸新興的加密貨幣市場，對比特幣現貨 ETF 的需求可能會加劇，進一步鞏固其作為金融界變革力量的地位。