美國現貨比特幣ETF 4月暴跌，資金流入趨勢逆轉

現貨比特幣交易所交易基金（ETF）的流入出現逆轉，4 月是首個月淨流出總額達 3.435 億美元。所有 9 隻現貨比特幣 ETF 均出現淨流出，其中富達 (Fidelity) 的 FBTC 虧損 1.91 億美元，打破了連續三個月資金流入的記錄。這種情緒轉變是在一段時期的熱情減弱之後出現的，這可能表明現貨比特幣 ETF 的成長可能會放緩。

Spot Bitcoin ETFs Witness Steep Declines in April, Breaking Three-Month Inflow Trend

4月現貨比特幣ETF大幅下跌，打破三個月流入趨勢

The United States spot Bitcoin Exchange-traded Fund (ETF) market has faced unprecedented headwinds in recent days, with April marking a significant downturn in investor sentiment.

美國現貨比特幣交易所交易基金（ETF）市場近幾天面臨前所未有的阻力，四月標誌著投資人情緒大幅下滑。

Massive Net Outflows Across the Board

全線大規模淨流出

On Wednesday alone, all nine spot Bitcoin ETFs experienced substantial net outflows, totaling an alarming $563.7 million. Fidelity's FBTC suffered the most significant outflow, losing over $191 million. This outflow surpassed even Grayscale's GBTC, which has endured a persistent trend of outflows since spot Bitcoin ETFs commenced trading in the US.

光是週三，所有 9 隻現貨比特幣 ETF 都大幅淨流出，總額達到驚人的 5.637 億美元。富達 (Fidelity) 的 FBTC 遭受了最嚴重的資金外流，損失超過 1.91 億美元。這筆流出量甚至超過了 Grayscale 的 GBTC，自現貨比特幣 ETF 在美國開始交易以來，GBTC 一直呈現持續的流出趨勢。

Data from SoSo Value reveals that Grayscale registered $167.3 million in net outflows during this period. ARK 21Shares, which awaits a decision from the US Securities and Exchange Commission (SEC) on its Ethereum ETF application, saw its Bitcoin ETF endure $98.1 million in net outflows, ranking third.

SoSo Value 的數據顯示，灰階在此期間錄得 1.673 億美元的淨流出。 ARK 21Shares 正在等待美國證券交易委員會 (SEC) 就其以太坊 ETF 申請做出決定，其比特幣 ETF 淨流出 9,810 萬美元，排名第三。

Other notable outflows included BlackRock's IBIT ($36.9 million) and Bitwise's BITB ($29 million). Daily net outflows have become a recent trend for BlackRock, which had previously enjoyed a relatively strong performance.

其他值得注意的資金流出包括 BlackRock 的 IBIT（3,690 萬美元）和 Bitwise 的 BITB（2,900 萬美元）。對於先前表現相對強勁的貝萊德來說，每日淨流出已成為近期趨勢。

Hashdex's DEFI emerged as the only spot Bitcoin ETF to avoid daily outflows on Wednesday, but it also failed to attract any inflows.

Hashdex 的 DEFI 成為週三唯一一隻避免每日資金流出的現貨比特幣 ETF，但它也未能吸引任何資金流入。

April Breaks Consecutive Inflow Streak

四月打破連續流入紀錄

The significant outflows in April have reversed a three-month trend of consecutive inflows for spot Bitcoin ETFs. As of April 29th, the US spot BTC ETF market had experienced total outflows of $51.5 million. ARK 21Shares Bitcoin ETF bore the brunt of outflows on this day, losing $31.34 million.

4月份的大幅資金流出扭轉了現貨比特幣ETF連續三個月流入的趨勢。截至 4 月 29 日，美國現貨 BTC ETF 市場總資金流出 5,150 萬美元。 ARK 21Shares比特幣ETF當天首當其衝遭受資金流出，損失3,134萬美元。

Despite these losses, Grayscale led the April outflows with approximately $2.5 billion exiting the GBTC ETF.

儘管出現這些損失，Grayscale 在 4 月的資金流出中仍處於領先地位，退出 GBTC ETF 的資金約為 25 億美元。

Diminished Optimism Dampens Inflow Projections

樂觀情緒減弱抑制了流入預測

Earlier in March, JPM Securities expressed optimism about the future of spot Bitcoin ETF inflows, predicting a potential surge to $220 billion within three years. However, the current market sentiment casts doubt on the likelihood of such high inflows.

3 月初，摩根大通證券對比特幣 ETF 現貨流入的未來表示樂觀，預計三年內可能激增至 2,200 億美元。然而，當前的市場情緒讓人對如此高的資金流入可能性產生懷疑。

Time will tell whether market dynamics will improve and drive better performance for the spot Bitcoin ETF market. Nonetheless, the recent outflows have undoubtedly dampened the enthusiasm that surrounded the launch of these products.

時間會證明市場動態是否會改善並推動現貨比特幣 ETF 市場更好的表現。儘管如此，最近的資金外流無疑削弱了圍繞這些產品推出的熱情。