聯準會降息希望破滅，比特幣現貨 ETF 市場枯竭

截至 4 月 26 日的一周，BTC 現貨 ETF 市場連續第三週出現淨流出，金額達 3.28 億美元。儘管最近比特幣減半，但這些資金外流與聯準會 9 月降息的預期不斷減弱是一致的。目前 4 月份的資金流出總額為 1.308 億美元，增加了自 1 月份市場啟動以來首次出現月度淨流出的可能性。隨著FOMC新聞發布會、香港BTC和ETH現貨ETF推出等重大事件的臨近，投資者對BTC現貨ETF市場流向的關注度預計將會提升。

BTC Spot ETF Market Experiences Persistent Outflows Amid Fed Rate Cut Concerns

聯準會降息擔憂下，BTC現貨ETF市場資金持續流出

In a significant turn of events, the Bitcoin (BTC) spot exchange-traded fund (ETF) market has recorded net outflows for the third consecutive week ending April 26. This trend coincides with waning expectations of a Federal Reserve interest rate cut in September.

事態發生了重大轉折，截至 4 月 26 日，比特幣 (BTC) 現貨交易所交易基金 (ETF) 市場連續第三週出現淨流出。

Despite the highly anticipated Bitcoin Halving on April 20, the BTC spot ETF market has continued to grapple with outflows. Farside Investors reports a total of $328.0 million in net outflows for the week ending April 26.

儘管備受期待的 4 月 20 日比特幣減半，比特幣現貨 ETF 市場仍在繼續應對資金外流問題。 Farside Investors 報告稱，截至 4 月 26 日當週淨流出總額為 3.28 億美元。

As April draws to a close, with just two trading sessions remaining, the BTC spot ETF market has already registered net outflows of $130.8 million. If demand remains subdued, this could mark the first instance of monthly net outflows since the launch of these ETFs on January 11.

4 月即將結束，僅剩兩個交易日，BTC 現貨 ETF 市場已淨流出 1.308 億美元。如果需求仍然低迷，這可能標誌著自 1 月 11 日推出這些 ETF 以來首次出現月度資金淨流出。

This week is particularly crucial for investors monitoring flow trends in the BTC spot ETF market. Two key events will shape market sentiment: the release of US labor market data and the Federal Reserve's highly anticipated press conference on Wednesday, May 1. The markets will scrutinize the Federal Open Market Committee's (FOMC) guidance for clues about the possibility of multiple rate cuts in 2024.

本週對於關注 BTC 現貨 ETF 市場流量趨勢的投資人來說尤其重要。兩個關鍵事件將塑造市場情緒：美國勞動力市場數據的發布以及美聯儲5 月1 日星期三備受期待的新聞發布會。性的線索。

Beyond the US market, the launch of Hong Kong Bitcoin and Ethereum spot ETFs on April 30 could provide a counterbalance to the recent outflow trend. Inflow activity in these new ETFs has the potential to offset the impact of outflows in the US market.

除美國市場外，4 月 30 日推出的香港比特幣和以太幣現貨 ETF 可能會抵消近期的資金外流趨勢。這些新 ETF 的流入活動有可能抵消美國市場資金流出的影響。

Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, expressed his optimism regarding the Hong Kong crypto-spot ETF market:

Bloomberg Intelligence 資深 ETF 分析師 Eric Balchunas 表達了他對香港加密貨幣現貨 ETF 市場的樂觀態度：

"We're pretty excited about the Hong Kong ETFs. We think it's going to be a game-changer because it's a new market... We think they're going to get a lot of the Chinese money, Singapore money, all of that Asia money."

「我們對香港 ETF 感到非常興奮。我們認為這將改變遊戲規則，因為這是一個新市場……我們認為他們將獲得大量中國資金、新加坡資金以及所有其他國家的資金。」亞洲的錢。

However, Balchunas cautioned that the success of these ETFs hinges on the regulatory landscape and the ability of asset managers to secure custody agreements amid ongoing concerns about crypto market volatility.

然而，Balchunas 警告說，這些 ETF 的成功取決於監管環境以及資產管理公司在對加密市場波動持續擔憂的情況下獲得託管協議的能力。