加密投資產品連續第三周流出

儘管比特幣（BTC）看到了5.45億美元的年度流入，但

Crypto investment products experienced their third consecutive week of outflows, with $795 million exiting the market last week, according to the latest CoinShares figures.

根據最新的Coinshares數據，加密投資產品連續第三周經歷了第三週的流出，7.95億美元退出了市場。

The outflows were largely driven by Bitcoin funds, which saw a massive $751 million in outflows, which represents about 94% of all outflows. Despite this, BTC has seen year-to-date inflows of $545 million.

外流主要是由比特幣基金驅動的，比特幣基金的流出量為7.51億美元，約佔所有流出的94％。儘管如此，BTC逐年流入了5.45億美元。

The persistent negative sentiment since early February has resulted in cumulative outflows reaching $7.2 billion. This has nearly eliminated all inflows recorded since the beginning of 2025. Current year-to-date inflows now stand at just $165 million.

自2月初以來的持續負面情緒導致累積流出達到72億美元。這幾乎消除了自2025年初以來記錄的所有流入。當前的年度流入僅為1.65億美元。

The money leaving the market was shared by almost all big cryptocurrency fund providers. The statistics indicated that ProShares ETFs alone received more funds for the week, which was $3.70 million. iShares ETFs/USA lost the largest amount of funds, at $341.64 million. Grayscale Investments LLC/USA lost $186.69 million. Fidelity Wise Origin Bitcoin Fund lost $74.63 million, and Bitwise Funds Trust lost $43.78 million.

幾乎所有大型加密貨幣基金提供商都共享了離開市場的錢。統計數據表明，僅Proshares ETF就獲得了本週的更多資金，為370萬美元。 Ishares ETFS/美國損失了最多的資金，為3.4164億美元。 Grayscale Investments LLC/USA損失了1.8669億美元。 Fidelity Wise Origin Bitcoin Fund損失了7463萬美元，而Bitwise Funds Trust損失了4,378萬美元。

The other big providers that witnessed withdrawals were ARK 21 Shares/USA ($27.22 million), 21Shares AG ($11.26 million), and CoinShares XBT Provider AB ($7.70 million). The smaller providers as a group witnessed $106.05 million in withdrawals.

目睹提款的其他大型提供者是方舟21股/美國（2722萬美元），21 Shares AG（1126萬美元）和Coinshares XBT XBT提供商AB（770萬美元）。較小的提供商作為一個團體目睹了1.0605億美元的提款。

Looking at the asset breakdown, Bitcoin dominated with $751 million in outflows, accounting for 94% of the total. Ethereum followed as a distant second with $37.6 million in withdrawals. Other cryptocurrencies showing outflows included Solana ($5.11 million), Short Bitcoin ($4.58 million), Sui ($0.6 million), Cardano ($0.4 million), and Litecoin ($0.26 million).

從資產分解中，比特幣以7.51億美元的流出量為主導，佔總數的94％。以太坊以遙遠的第二名，提款為3760萬美元。顯示出流的其他加密貨幣包括Solana（511萬美元），短幣（458萬美元），SUI（60萬美元），Cardano（40萬美元）和Litecoin（260萬美元）。

A handful of assets managed to attract positive flows during the week, with XRP leading with $3.45 million in inflows. Multi-asset funds also saw modest gains, with $1.05 million in inflows. According to the CoinShares report, other altcoins with minor inflows included “Ondo, Algorand, and Avalanche [with] inflows of US$0.46m, US$0.25m and US$0.25m respectively.”

少數資產設法在一周內吸引了積極的流動，XRP領先於345萬美元的流入。多資產基金也看到了適中的收益，流入了105萬美元。根據Coinshares的報告，其他少量流入的山寨幣包括“ Ondo，Algorand和Avalanche [分別為446萬美元，205萬美元和225萬美元的雪崩。”

Despite maintaining positive year-to-date inflows of $545 million, Bitcoin’s massive weekly outflow has raised concerns about changing investor sentiment towards the cryptocurrency. The monthly trend shows Bitcoin losing $890 million over the past month while still having the largest assets under management at $112.96 billion.

儘管比特幣的大量每周流出量保持了5.45億美元的積極流入，但對改變加密貨幣的投資者情緒的擔憂引起了人們的擔憂。每月趨勢顯示，比特幣在過去一個月中損失了8.9億美元，而仍擁有最大的管理資產為1,129.6億美元。

The outflows were heavily concentrated in the United States, which accounted for $763 million or 96% of the total weekly withdrawals. Other major markets experiencing outflows included Switzerland ($11.9 million), Hong Kong ($11.2 million), Sweden ($6.8 million), and Germany ($4.4 million).

流出集中在美國，占美國每週撤離總額的7.63億美元或96％。經歷流出的其他主要市場包括瑞士（1,190萬美元），香港（1,120萬美元），瑞典（680萬美元）和德國（440萬美元）。

A few markets managed to maintain positive flows despite the negative trend. Canada led with $2.1 million in inflows, followed by Brazil ($0.2 million) and Australia ($0.4 million).

儘管存在負面趨勢，但一些市場還是設法保持積極流動。加拿大領先210萬美元的流入，其次是巴西（120萬美元）和澳大利亞（40萬美元）。

The market context for these outflows was directly tied to recent policy developments. According to CoinShares, “recent tariff activity continues to weigh on sentiment towards the asset class.” However, a late-week development helped stabilize the market somewhat: “a late-week price rebound helped lift total assets under management (AuM) from their lowest point on April 8 (the lowest since early November 2024) to US$130bn.”

這些流出的市場環境與最近的政策發展直接相關。根據Coinshares的說法，“最近的關稅活動仍在對資產類別的情感上。”但是，週末的發展有助於穩定市場：“深週的價格籃板有助於將正在管理的總資產（AUM）從4月8日的最低點（自2024年11月初）提高到1300億美元。”

The U.S. market dominance is also reflected in the assets under management distribution, with U.S.-based funds holding $99.53 billion, or about 77% of the global total. The next largest markets by AUM are Canada ($4.8 billion), Switzerland ($4.58 billion), Germany ($4.5 billion), and Sweden ($2.62 billion).

美國市場的主導地位也反映在管理分銷中的資產中，美國的資金持有995.3億美元，約佔全球總數的77％。 AUM的第二大市場是加拿大（48億加元），瑞士（45.8億美元），德國（45億美元）和瑞典（26.2億美元）。

Bitcoin leads with $545 million YTD inflows

比特幣以5.45億美元的YTD流入領先

Despite the substantial recent outflows, several digital assets maintain positive year-to-date inflows, according to the CoinShares data. Bitcoin leads with $545 million in YTD inflows, followed by Ethereum ($241 million), XRP ($176.35 million), Solana ($78.78 million), Cardano ($69.63 million), and Sui ($52.46 million).

根據Coinshares數據，儘管最近出現了大量流出，但幾個數字資產仍保持積極的年底流入。比特幣以5.45億美元的YTD流入率領先，其次是以太坊（2.41億美元），XRP（1.7635億美元），Solana（7878萬美元），Cardano（6963萬美元）和SUI（5246萬美元）。

The collective outflows since early February have nearly eliminated the year’s gains, with total YTD inflows now standing at just $165 million. This is a major reduction from peak inflow levels earlier in the year.

自2月初以來的集體流出幾乎消除了今年的收益，總YTD流入量僅為1.65億美元。這是今年早些時候的峰值流入水平的重大降低。

From a provider perspective, iShares ETFs/USA maintains the

從提供商的角度來看，Ishares ETFS/美國保持