華爾街全力投資比特幣 ETF：巨頭加入貝萊德成為授權參與者

近年來，隨著貝萊德、灰階和富達等公司比特幣 ETF 產品的成功，比特幣 (BTC) 在資產管理公司和傳統金融 (TradFi) 機構中的受歡迎程度激增。這促使華爾街主要銀行機構加入授權參與者（AP）市場。貝萊德最近擴大了其 iShares 比特幣信託 (IBIT) ETF 的 AP 名單，其中包括高盛、Citadel、花旗集團、瑞銀和荷蘭銀行。這些機構將在創建和贖回 ETF 份額方面發揮至關重要的作用，這反映出人們對比特幣相關金融產品的接受度不斷提高。

Wall Street Embraces Bitcoin ETFs: Major Institutions Join BlackRock as Authorized Participants

華爾街擁抱比特幣ETF：主要機構加入貝萊德成為授權參與者

The allure of Bitcoin (BTC) continues to captivate the financial world, with asset managers and traditional finance (TradFi) institutions flocking to the digital currency. This surge in interest has fueled the proliferation of Bitcoin exchange-traded funds (ETFs), providing investors with a convenient and accessible way to gain exposure to the cryptocurrency market.

比特幣 (BTC) 的魅力繼續吸引金融界，資產管理公司和傳統金融 (TradFi) 機構紛紛湧向數位貨幣。這種興趣的激增推動了比特幣交易所交易基金（ETF）的激增，為投資者提供了一種便捷且可訪問的方式來接觸加密貨幣市場。

Among the industry leaders driving this ETF boom is BlackRock, the world's largest asset manager. BlackRock's iShares Bitcoin Trust (IBIT) ETF has garnered immense popularity, attracting substantial investments from both individuals and institutions. In a move that underscores the growing acceptance of Bitcoin-related financial products, BlackRock has recently expanded the list of authorized participants (AP) for its IBIT ETF.

全球最大的資產管理公司貝萊德是推動 ETF 熱潮的行業領導者之一。貝萊德的 iShares 比特幣信託 (IBIT) ETF 獲得了巨大的歡迎，吸引了個人和機構的大量投資。貝萊德最近擴大了 IBIT ETF 的授權參與者 (AP) 名單，此舉突顯了比特幣相關金融產品的接受度不斷提高。

Authorized participants play a pivotal role in the ETF ecosystem. They have agreements with ETF issuers that grant them the exclusive right to create and redeem ETF shares in response to market demand. This dynamic adjustment of ETF shares ensures efficiency and cost reduction for ETF investors.

授權參與者在 ETF 生態系統中發揮關鍵作用。他們與 ETF 發行人簽訂了協議，授予他們根據市場需求創建和贖回 ETF 份額的專有權利。 ETF份額的這種動態調整確保了ETF投資者的效率和成本降低。

The addition of five new APs to BlackRock's IBIT ETF is a testament to the growing institutional interest in Bitcoin ETFs. These new participants include financial heavyweights Goldman Sachs, Citadel, Citigroup, UBS, and clearing house ABN AMRO. This move brings the total number of authorized participants to nine, further solidifying the IBIT ETF's position as a major player in the Bitcoin ETF market.

貝萊德 IBIT ETF 新增五隻 AP 證明機構對比特幣 ETF 的興趣日益濃厚。這些新參與者包括金融巨頭高盛、Citadel、花旗集團、瑞銀和票據交換所荷蘭銀行。此舉使授權參與者總數達到九個，進一步鞏固了 IBIT ETF 作為比特幣 ETF 市場主要參與者的地位。

Bloomberg ETF expert Eric Balchunas suggests that the participation of these banking giants signifies a newfound interest in the Bitcoin sector or, at the very least, a growing comfort level with publicly associating with it. Previously, these institutions' involvement in Bitcoin ETFs was not explicitly disclosed in ETF filings. However, the remarkable growth and success of these ETFs have likely influenced their decision to openly participate.

彭博ETF 專家 Eric Balchunas 表示，這些銀行業巨頭的參與標誌著人們對比特幣行業產生了新的興趣，或者至少表明人們越來越願意公開參與比特幣行業。此前，這些機構參與比特幣 ETF 的情況並未在 ETF 文件中明確揭露。然而，這些 ETF 的顯著成長和成功可能影響了他們公開參與的決定。

The influx of Wall Street giants into the Bitcoin ETF market underscores the growing mainstream adoption of cryptocurrencies. It signals a shift in perception, where Bitcoin is no longer viewed as a niche asset but rather as a legitimate investment vehicle.

華爾街巨頭湧入比特幣 ETF 市場凸顯了加密貨幣日益成為主流。它標誌著觀念的轉變，比特幣不再被視為利基資產，而是合法的投資工具。

This institutional embrace of Bitcoin ETFs is reflected in the positive market flows. The ten Spot ETFs recently approved by the US Securities and Exchange Commission (SEC) have experienced steady investor interest. On April 4, these ETFs recorded a notable net inflow of $213 million, marking the third consecutive day of positive flows.

這種機構對比特幣 ETF 的接受度反映在積極的市場流動中。美國證券交易委員會 (SEC) 最近批准的 10 隻現貨 ETF 引起了投資者的穩定興趣。 4 月 4 日，這些 ETF 錄得 2.13 億美元的顯著淨流入，標誌著連續第三天出現正流入。

However, Grayscale's GBTC, a Bitcoin trust that predates the launch of SEC-approved Spot ETFs, has experienced substantial net outflows. On the same day that Spot ETFs recorded positive flows, GBTC experienced a net outflow of $79.3 million, bringing its total historical net outflow to a staggering $15.31 billion.

然而，Grayscale 的 GBTC（早於 SEC 批准的現貨 ETF 推出之前的比特幣信託）已經歷了大量淨流出。在現貨 ETF 錄得正流量的同一天，GBTC 出現了 7,930 萬美元的淨流出，使其歷史淨流出總額達到驚人的 153.1 億美元。

In contrast to GBTC's net outflows, BlackRock's IBIT ETF has emerged as the top performer, witnessing a significant net inflow of approximately $144 million on April 4. This brings IBIT's total historical net inflow to an impressive $14.4 billion.

與GBTC 的淨流出形成鮮明對比的是，貝萊德(BlackRock) 的IBIT ETF 表現最佳，4 月4 日見證了約1.44 億美元的大幅淨流入。這使得IBIT 的歷史淨流入總額達到令人印象深刻的144 億美元。

Despite the Bitcoin ETF market's success, BTC's price action remains sideways, trading at around $67,700. The cryptocurrency has experienced a modest 2% price decline over the past seven days. This sideways price action can be attributed to a combination of factors, including geopolitical uncertainty, regulatory concerns, and profit-taking.

儘管比特幣 ETF 市場取得了成功，但 BTC 的價格走勢仍然橫盤整理，交易價格約為 67,700 美元。在過去 7 天裡，加密貨幣的價格小幅下跌了 2%。這種價格橫盤走勢可歸因於多種因素，包括地緣政治不確定性、監管擔憂和獲利回吐。

Nonetheless, the long-term outlook for Bitcoin remains bullish. The growing institutional adoption of Bitcoin ETFs, combined with the underlying fundamentals of the cryptocurrency, suggests that BTC has the potential to continue its upward trajectory. As more and more investors seek exposure to the digital asset, Bitcoin ETFs are poised to play a significant role in driving its mainstream adoption.

儘管如此，比特幣的長期前景仍然看漲。比特幣 ETF 越來越多的機構採用，加上加密貨幣的基本面，顯示 BTC 有潛力繼續其上升軌跡。隨著越來越多的投資者尋求投資數位資產，比特幣 ETF 預計在推動其主流採用方面發揮重要作用。