貿易商正在採用截然相反的交易所交易基金（ETF）策略

n（BTC）收回$ 90K，利用長期和風險的ETF策略蓬勃發展

Traders are flocking to both leveraged long and risk-off exchange-traded funds (ETFs) in a bid to navigate one of the most unpredictable financial markets in recent history, according to data from Bloomberg Intelligence.

根據彭博情報公司的數據，貿易商正在湧向利用長期和風險交易所交易的基金（ETF），以探索最近歷史上最不可預測的金融市場之一。

The year-to-date has seen record inflows into ETFs that provide two to three times leveraged long exposure to volatile assets such as stocks and cryptocurrencies, as well as funds holding risk-off assets such as cash and gold, the data shows.

數據顯示，年初至今已將創紀錄的ETF流入到ETF中，這些ETF提供了兩到三倍的利用，該資產長期暴露於股票和加密貨幣等波動性資產，以及持有現金和黃金等風險資產的資金。

“There's basically record flows going into leveraged long ETFs but also cash and gold ETFs as people buy the dip and hedge the dip at the same time. May the best degen win!” said Bloomberg Intelligence analyst Eric Balchunas in an April 23 post on the X platform.

“基本上有記錄流入槓桿的長期ETF，但當人們購買蘸醬並同時對沖浸入時，現金和金ETF也有現金和黃金。也許最好的Degen獲勝！”彭博情報分析師埃里克·巴爾庫納斯（Eric Balchunas）在X平台上的一篇文章中說。

In 2025, leveraged long ETFs attracted net inflows of roughly $6 billion, according to Bloomberg Intelligence. Meanwhile, inflows into cash and gold funds approached roughly $4 billion.

根據彭博情報局的數據，2025年，利用長期ETF吸引了大約60億美元的淨流入。同時，流入現金，黃金基金大約接近40億美元。

The record fund flows come amid a spike in market turbulence after US President Donald Trump announced plans for sweeping tariffs on US imports on April 2.

在美國總統唐納德·特朗普（Donald Trump）宣布計劃在4月2日對美國進口商品徵收關稅的計劃之後，唱片基金的流量激增了市場動盪。

Since then, the S&P 500, an index of large US stocks, has shed roughly 5% of its value, according to data from Google Finance.

從那以後，根據Google Finance的數據，S＆P 500是美國大型股票的指數大約5％的價值。

Bitcoin (BTC), meanwhile, has been comparatively resilient.

同時，比特幣（BTC）相對彈性。

On April 22, the cryptocurrency’s spot price reclaimed $90,000 per coin for the first time in six weeks, with Bitcoin ETFs clocking nearly $1 billion in net inflows.

4月22日，加密貨幣的現貨價格在六週內首次回收了每枚硬幣90,000美元，比特幣ETF的淨流入量將近10億美元。

The cryptocurrency trades above $93,000 as of April 23, according to data from Google Finance.

根據Google Finance的數據，截至4月23日，加密貨幣的交易價格超過93,000美元。

“Even in the wake of recent tariff announcements, BTC has shown some signs of resilience, holding steady or rebounding on days when traditional risk assets faltered,” Binance, the world’s largest cryptocurrency exchange, said in an April research report.

世界上最大的加密貨幣交易所Binance在4月份的一份研究報告中說：“即使在最近的關稅公告之後，BTC也表現出了一些彈性的跡象，在傳統風險資產步履蹣跚的日子裡保持穩定或反彈。”

Bitcoin has often been referred to as “digital gold” but the cryptocurrency still has a weak correlation to the safe haven asset and trades more in line with equities, Binance said. Its correlation with gold has averaged around 0.12 over the past 90 days, versus 0.32 for equities.

Binance說，比特幣通常被稱為“數字黃金”，但加密貨幣仍然與避風港資產的相關性較弱，並且與股票的交易更加一致。在過去的90天中，它與黃金的相關性平均約為0.12，而股票的相關性為0.32。

“The key question is whether BTC can return to its long-term pattern of low correlation with equities,” noted the report, adding that gold is still a preferred safe-haven asset for most investors.

該報告指出：“關鍵問題是BTC是否可以恢復與股票低相關的長期模式。”該報告補充說，對於大多數投資者來說，黃金仍然是首選的避風勢資產。