前所未有的資金外流震動比特幣 ETF 市場，引發永續性擔憂

2024 年 5 月 1 日，加密貨幣市場經歷了重大挫折，現貨比特幣 ETF 出現了前所未有的總計 5.637 億美元的資金外流。貝萊德旗下的著名基金 iShares Bitcoin Trust 出現 3,690 萬美元的資金流出，結束了 77 天的正資金流入。其他著名的比特幣 ETF，包括 Fidelity Wise Origin Bitcoin Fund 和 Grayscale Bitcoin Trust 也遭受了重大損失。雖然一些分析師認為這可能會影響比特幣的價格，但其他分析師則認為這可能是 ETF 生命週期中的自然現象。

Unprecedented Outflows Shake Bitcoin ETF Sector, Raising Concerns About Sustainability

前所未有的資金外流動搖了比特幣 ETF 產業，引發了人們對永續性的擔憂

On May 1, 2024, the cryptocurrency sector witnessed an unprecedented event that sent shockwaves through the industry. Spot Bitcoin Exchange-Traded Funds (ETFs), once perceived as engines of growth, experienced massive outflows totaling $563.7 million in a single day. This unprecedented exodus marks a significant turning point, sparking concern and skepticism about the long-term sustainability of Bitcoin's bullish trend.

2024年5月1日，加密貨幣領域發生了一場史無前例的事件，震驚了整個產業。一度被視為成長引擎的現貨比特幣交易所交易基金（ETF）單日經歷了總計 5.637 億美元的大規模資金流出。這種前所未有的資金外流標誌著一個重大轉折點，引發了人們對比特幣看漲趨勢長期可持續性的擔憂和懷疑。

BlackRock's IBIT Flagship Fund Suffers Setback

貝萊德旗下 IBIT 旗艦基金遭遇挫折

Among the most notable casualties of this exodus was BlackRock's iShares Bitcoin Trust (IBIT). This flagship fund saw outflows of $36.9 million, abruptly ending an impressive 77-day streak of net positive or steady inflows. This setback is all the more noteworthy because IBIT had until then been considered a pioneer in the institutional adoption of cryptocurrencies.

這次外流中最顯著的受害者是貝萊德的 iShares 比特幣信託（IBIT）。該旗艦基金出現了 3,690 萬美元的資金流出，突然結束了連續 77 天的淨正流入或穩定流入。這項挫折更加值得注意，因為 IBIT 在此之前一直被認為是機構採用加密貨幣的先驅。

However, James Seyffart, ETF analyst at Bloomberg, attempts to calm the waters, suggesting that such outflows are commonplace in the lifecycle of an ETF. He reassures investors, stating that these funds continue to function impeccably as a whole.

然而，彭博 ETF 分析師 James Seyffart 試圖平息事態，他表示這類資金外流在 ETF 的生命週期中很常見。他向投資者保證，這些基金整體上繼續完美運作。

Widespread Shockwave Impacts Bitcoin ETFs

廣泛的衝擊波影響比特幣 ETF

The tremors caused by the outflows from IBIT were not isolated. Other well-established Bitcoin ETFs also suffered significant setbacks. The Fidelity Wise Origin Bitcoin Fund (FBTC) lost $191.1 million, while the Grayscale Bitcoin Trust (GBTC) witnessed outflows of $167.4 million.

IBIT 流出造成的震動並不是孤立的。其他成熟的比特幣 ETF 也遭受了重大挫折。 Fidelity Wise Origin 比特幣基金（FBTC）損失了 1.911 億美元，而灰階比特幣信託（GBTC）則流出了 1.674 億美元。

This widespread sell-off has understandably fueled speculation about its potential impact on the price of Bitcoin. However, some analysts, like Coosh Alemzadeh, an experienced Bitcoin investor, downplay the actual influence of ETFs on market trends.

可以理解的是，這種廣泛的拋售加劇了對其對比特幣價格潛在影響的猜測。然而，一些分析師，如經驗豐富的比特幣投資者 Coosh Alemzadeh，淡化了 ETF 對市場趨勢的實際影響。

A Historical Turning Point and Opportunity for Reassessment

歷史轉折與重新檢視的機遇

May 1, 2024, will be etched in memory as a historical turning point for Bitcoin ETFs. While the massive outflows have undoubtedly rattled the market, they also present an opportunity to re-evaluate the underlying dynamics of the industry.

2024 年 5 月 1 日，將作為比特幣 ETF 的歷史轉捩點銘刻在人們的記憶中。儘管大規模資金外流無疑地令市場感到不安，但它們也提供了重新評估該行業潛在動態的機會。

As the crypto sector matures, such setbacks become inevitable, yet they also allow for a critical assessment of the strengths and weaknesses of emerging investment products. This process will ultimately shape the long-term trajectory of Bitcoin and the broader cryptocurrency ecosystem.

隨著加密貨幣行業的成熟，此類挫折變得不可避免，但它們也允許對新興投資產品的優勢和劣勢進行批判性評估。這個過程最終將塑造比特幣和更廣泛的加密貨幣生態系統的長期軌跡。