現貨比特幣ETF在市場波動中經歷第三波資金流出

現貨比特幣 ETF 自 1 月推出以來第三次出現淨流出，從 4 月 8 日到 12 日，資產減少了 8,300 萬美元。趨勢。

Spot Bitcoin ETFs Face Third Wave of Outflows Amidst Market Volatility

現貨比特幣ETF在市場波動中面臨第三波資金流出

In a setback for the burgeoning spot Bitcoin exchange-traded fund (ETF) market, investors have pulled a net $83 million from these funds over the past week, marking the third time since their launch in January that such outflows have occurred. The withdrawals coincide with an 8% decline in Bitcoin prices, indicating a shift in investor sentiment.

新興的現貨比特幣交易所交易基金 (ETF) 市場遭遇挫折，過去一周，投資者從這些基金中淨撤資 8,300 萬美元，這是自 1 月推出以來第三次出現此類資金外流。此次提款恰逢比特幣價格下跌 8%，顯示投資者情緒發生了變化。

According to data from BitMEX Research, the 11-fund category saw a sharp reversal of fortune, having recorded net inflows of $485 million the previous week. The outflows were primarily driven by the Grayscale Bitcoin Trust ETF (GBTC), the only U.S. BTC fund that has consistently experienced redemptions, with $767 million exiting last week.

BitMEX Research 的數據顯示，這 11 檔基金類別的命運急劇逆轉，上週錄得 4.85 億美元的淨流入。資金流出主要是由灰階比特幣信託 ETF (GBTC) 推動的，這是唯一一支持續經歷贖回的美國 BTC 基金，上週流出了 7.67 億美元。

Efforts by asset-gathering leaders such as BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) to counterbalance the GBTC's negative net flows proved insufficient, with these funds attracting only $487 million and $90 million, respectively.

貝萊德旗下的iShares Bitcoin Trust (IBIT) 和Fidelity Wise Origin Bitcoin Fund (FBTC) 等資產聚集領軍企業為抵消GBTC 負淨流量所做的努力被證明是不夠的，這些基金分別只吸引了4.87 億美元和9000 萬美元。

Prior to last week, the Bitcoin fund segment had only experienced two weeks of net outflows since its launch in January, losing $417 million in assets from January 22nd to 26th and $888 million from March 18th to 22nd. Conversely, the most significant net inflows in a week for the category peaked at $2.5 billion from March 11th to 15th.

上週之前，比特幣基金板塊自1月推出以來僅經歷了兩週的淨流出，1月22日至26日資產損失4.17億美元，3月18日至22日資產損失8.88億美元。相反，3 月 11 日至 15 日，該類別的一周最大淨流入達到 25 億美元的峰值。

Analysts attribute the recent ETF outflows to a combination of profit-taking and increased investor caution following a strong uptrend in Bitcoin prices over the past two quarters. The decline in prices over the past week further amplified these concerns.

分析師將近期 ETF 資金流出歸因於過去兩個季度比特幣價格強勁上漲後，獲利了結和投資者日益謹慎。過去一周的價格下跌進一步加劇了這些擔憂。

Despite the net outflows, the open interest in Bitcoin futures contracts has increased by 2.6% to $33.1 billion alongside a 3% surge in Bitcoin prices in the past 24 hours. This indicates that the overall market sentiment remains bullish, tempered by the recent pullback.

儘管出現淨流出，但比特幣期貨合約的未平倉合約仍增加了 2.6%，達到 331 億美元，同時比特幣價格在過去 24 小時內上漲了 3%。這顯示整體市場情緒仍看漲，但受到近期回檔的影響。

Notably, Bitcoin liquidations in the past 24 hours have seen almost as many short liquidations ($118 million) as long liquidations ($126 million). This suggests that the market is increasingly confident in Bitcoin's long-term prospects, as evidenced by the dominance of short liquidations over long liquidations.

值得注意的是，過去 24 小時內的比特幣清算中，空頭清算（1.18 億美元）幾乎與多頭清算（1.26 億美元）一樣多。這顯示市場對比特幣的長期前景越來越有信心，空頭清算相對於多頭清算的主導地位證明了這一點。

The influence of Bitcoin as an institutional asset class will be a key topic of discussion at Benzinga's upcoming Future of Digital Assets event on November 19th. Industry leaders and experts will gather to explore the evolving role of cryptocurrencies in the financial landscape.

比特幣作為一種機構資產類別的影響將成為 Benzinga 即將於 11 月 19 日舉行的「數位資產的未來」活動中討論的關鍵話題。產業領袖和專家將齊聚一堂，探討加密貨幣在金融領域不斷演變的角色。

The recent outflows from spot Bitcoin ETFs serve as a reminder of the volatility inherent in the cryptocurrency market. While investors remain bullish on Bitcoin's long-term potential, short-term fluctuations can trigger risk aversion and profit-taking. As the market matures and institutional adoption increases, such outflows may become less frequent and less pronounced.

最近現貨比特幣 ETF 的資金流出提醒人們注意加密貨幣市場固有的波動性。儘管投資人仍看好比特幣的長期潛力，但短期波動可能引發避險情緒和獲利了結。隨著市場的成熟和機構採用的增加，這種資金外流可能會變得不那麼頻繁和不那麼明顯。