加密貨幣基金踩煞車：10 億美元出走標誌著市場調整

Are Crypto Funds Hitting the Brakes?

加密基金在踩煞車嗎？

Last week, crypto funds around the world saw a massive exodus of cash, with nearly $1 billion flowing out, according to CoinShares. That's a stark reversal from the previous seven weeks, when these funds had raked in a whopping $12.3 billion.

據 CoinShares 稱，上週，全球加密貨幣基金出現大量現金外流，流出近 10 億美元。這與前七週形成鮮明對比，當時這些基金賺得高達 123 億美元。

Outflows on the Rise

資金外流不斷增加

The scale of these outflows is pretty significant, coming in at around $942 million. That's almost double the previous record of $500 million set back in January.

這些資金流出規模相當可觀，約 9.42 億美元。這幾乎是 1 月創下的 5 億美元紀錄的兩倍。

Who's Feeling the Pinch?

誰感受到了壓力？

The big names in asset management, like BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares, all took a hit from this wave of withdrawals.

貝萊德、Bitwise、Fidelity、Grayscale、ProShares 和 21Shares 等資產管理領域的大牌都受到了這波撤資潮的打擊。

Timing is Everything

時機就是一切

These outflows coincided with a major dip in crypto prices, which wiped out $10 billion from the assets under management (AUM) of these funds. Still, their combined AUM is sitting at a hefty $88 billion, which is higher than the highs from the last cycle.

這些資金流出恰逢加密貨幣價格大幅下跌，這些基金的管理資產 (AUM) 蒸發了 100 億美元。儘管如此，它們的總資產管理規模仍高達 880 億美元，高於上一個週期的高點。

Trading Volume and Valuations Tumble

交易量和估值暴跌

The outflows have had a noticeable impact on trading volumes and asset valuations in the crypto investment product sector. Trading volume last week plunged by a third to $28 billion, and the price correction sent the AUM of these funds tumbling.

資金外流對加密投資產品領域的交易量和資產估值產生了顯著影響。上週交易量暴跌三分之一至 280 億美元，價格調整導致這些基金的資產管理規模暴跌。

US Market: Mixed Signals

美國市場：喜憂參半

The US market, especially the new spot Bitcoin ETFs, saw inflows of over $1 billion, but that wasn't enough to make up for the nearly $2 billion outflows from Grayscale's GBTC fund conversion.

美國市場，尤其是新推出的比特幣 ETF 現貨流入超過 10 億美元，但這不足以彌補 Grayscale 的 GBTC 基金轉換帶來的近 20 億美元的流出。

Global Sentiment: It's Complicated

全球情緒：很複雜

The sentiment last week wasn't just about US funds or Bitcoin. Investment products in Sweden, Hong Kong, Switzerland, and Germany also saw outflows, while Brazil and Canada-based funds recorded inflows.

上週的情緒不僅與美國基金或比特幣有關。瑞典、香港、瑞士和德國的投資產品也出現資金流出，而巴西和加拿大的基金則錄得資金流入。

Altcoins: Mixed Bag

山寨幣：魚龍混雜

Ethereum, Solana, and Cardano-based products faced outflows, reflecting the broader market downturn. However, other altcoin funds like Polkadot, Avalanche, and Litecoin saw net inflows, showing some selective interest in the altcoin sector.

以太坊、Solana 和基於 Cardano 的產品面臨資金外流，反映出更廣泛的市場低迷。然而，Polkadot、Avalanche 和 Litecoin 等其他山寨幣基金出現了淨流入，顯示出對山寨幣領域的一些選擇性興趣。

Time for a Reset?

是時候重置了？

This market recalibration has sparked a discussion among industry leaders about the role and accessibility of Bitcoin ETFs in the broader crypto ecosystem.

這種市場重新調整引發了行業領導者關於比特幣 ETF 在更廣泛的加密生態系統中的作用和可及性的討論。

UK Market: ETF Hopes

英國市場：ETF 希望

Kraken UK's Bivu Das and Coinbase UK's Daniel Seifert have both called for the UK market to get access to Bitcoin ETFs, arguing that these products are crucial for building a comprehensive crypto ecosystem.

Kraken UK 的 Bivu Das 和 Coinbase UK 的 Daniel Seifert 都呼籲英國市場進入比特幣 ETF，認為這些產品對於建立全面的加密生態系統至關重要。

ETFs: Paving the Way?

ETF：鋪路？

By offering indirect exposure to Bitcoin's price movements, ETFs provide a regulated and potentially more accessible avenue for investors. This could contribute to the diversification and maturity of the investment landscape in the digital currency market.

透過提供對比特幣價格變動的間接敞口，ETF 為投資者提供了一個受監管且可能更容易獲得的途徑。這可能有助於數位貨幣市場投資格局的多元化和成熟。