加密ETP上週看到的謙虛流入，從創紀錄的流出段中延伸了逆轉

上週，加密貨幣交易所交易產品（ETP）繼續看到適度的流入，從創紀錄的流出曲折中逆轉了逆轉。

Cryptocurrency exchange-traded product (ETP) inflows continued for a second consecutive week, suggesting that investors are becoming slightly more positive on digital assets.

加密貨幣交易所交易產品（ETP）連續第二週持續了流入，這表明投資者對數字資產的積極性略有積極。

Global crypto ETPs saw an inflow of $226 million in the last trading week, adding to the previous week’s $644 million, digital assets management firm CoinShares reported on Friday.

全球加密ETP在上一個交易週的流入為2.26億美元，增加了上週的6.44億美元數字資產管理公司Coinshares週五報導。

The positive trend comes after a record-breaking streak of outflows, which amounted to $1.7 billion in four weeks.

積極的趨勢是在創紀錄的流出紀錄之後，在四個星期內達到17億美元。

However, despite the two-week positive trend after a five-week outflow streak, total assets under management (AUM) continued to decline, dropping below $134 million by March 28.

然而，儘管經過五週的流出連勝，儘管兩週的積極趨勢為期兩週，但管理總資產（AUM）仍在下降，到3月28日下降到1.34億美元以下。

Weekly crypto ETP flows since late 2024. Source: CoinShares

自2024年底以來，每週加密ETP流動。來源：Coinshares

Last week’s inflows suggest positive but cautious investor behavior amid core Personal Consumption Expenditures in the US coming in above expectations, CoinShares’ head of research James Butterfill said.

Coinshares的研究負責人James Butterfill說，上週的流入表明，在美國的核心個人消費支出中，積極但謹慎的投資者行為表現出高於預期的核心個人消費支出。

Bitcoin leads weekly inflows

比特幣每周流入

Bitcoin (BTC) investment products attracted the majority of inflows, with a total of $195 million for the week, while short-BTC investment products saw outflows for the fourth consecutive week, amounting to $2.5 million.

比特幣（BTC）投資產品吸引了大部分流入，一周的總計1.95億美元，而短時BTC投資產品連續第四周看到了流出，總計250萬美元。

Altcoins, in aggregate, saw their first week of inflows with a total of $33 million, following four consecutive weeks of outflows totaling $1.7 billion.

Altcoins總共看到了他們的第一周流入，總計3,300萬美元，此後連續四個星期的流出總計17億美元。

Flows by asset (in millions of US dollars). Source: CoinShares

通過資產流動（數百萬美元）。資料來源：Coinshares

Among individual altcoins, Ether (ETH) saw $14.5 million in inflows. Solana (SOL), XRP (XRP) and Sui (SUI) followed with $7.8 million, $4.8 million and $4 million, respectively.

在各個山寨幣中，Ether（ETH）的流入量為1450萬美元。 Solana（Sol），XRP（XRP）和SUI（SUI）隨後分別為780萬美元，480萬美元和400萬美元。

AUM drops to lowest level in 2025 amid price slump

在價格低落中，AUM降至2025年的最低水平

Despite recent inflows, crypto ETPs have failed to trigger a reversal in terms of total AUM.

儘管最近流入，但加密ETP仍未觸發AUM的逆轉。

Since March 10, the total crypto ETP AUM dropped 5.7% from 142 billion, amounting to 133.9 billion as of March 28, the lowest level in 2025.

自3月10日以來，Crypto ETP AUM的總降低了5.7％，從1.42億美元下降，截至3月28日，截至2025年的最低水平為139億。

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According to CoinShares’ Butterfill, the AUM decline could be attributed to a slump in cryptocurrency prices.

根據Coinshares的Butterfill的說法，AUM的下降可能歸因於加密貨幣價格下降。

“Recent price falls have pushed Bitcoin global ETPs’ total assets under management to their lowest level since just after the US election at $114 billion,” Butterfill wrote.

Butterfill寫道：“最近的價格下跌使比特幣全球ETP的總資產在美國大選之後的最低水平上達到了1,140億美元的最低水平。”

Bitcoin price chart since Jan. 1, 2025. Source: CoinGecko

比特幣價格表自2025年1月1日起。資料來源：Coingecko

Since January 1, 2025, the BTC price has dropped 13.6%, while the total market capitalization has tumbled nearly 20%, according to data from CoinGecko.

根據Coingecko的數據，自2025年1月1日以來，BTC的價格下跌了13.6％，而總市值跌幅了近20％。