財富管理公司在市場活力中增加比特幣 ETF 投資

Bitwise 執行長 Hunter Horsley 表示，由於最近比特幣減半後對加密貨幣投資的需求不斷增加，預計美國的財富管理公司將增加對比特幣交易所交易基金 (ETF) 的投資。最近比特幣 ETF 的資金流入以及貝萊德 iShares 比特幣信託 (IBIT) 的穩定增長證明了這一趨勢，該信託正在縮小與灰階 (Grayscale) 比特幣信託 (GBTC) 的差距。

Wealth Management Firms Embolden Bitcoin ETF Investments Amidst Heightened Demand and Market Dynamics

在需求增加和市場動態增加的情況下，財富管理公司加強了比特幣 ETF 投資力度

Hunter Horsley, CEO of Bitwise, has forecasted a surge in the acquisition of Bitcoin exchange-traded funds (ETFs) by United States wealth management firms. This projection aligns with the anticipated upswing in Bitcoin ETF acceptance spurred by the recent halving event.

Bitwise 執行長 Hunter Horsley 預測，美國財富管理公司對比特幣交易所交易基金 (ETF) 的收購將會激增。這項預測與近期減半事件刺激的比特幣 ETF 接受度預期上升一致。

Industry experts concur with Horsley's prediction, noting a growing appetite for ETFs. Notably, Bitcoin investments within US exchange-traded funds experienced a positive inflow prior to the halving, reversing a five-day decline.

產業專家同意霍斯利的預測，並指出對 ETF 的需求不斷增長。值得注意的是，美國交易所交易基金內的比特幣投資在減半前出現了正流入，扭轉了連續五天的跌勢。

BlackRock's iShares Bitcoin Trust (IBIT) is swiftly approaching Grayscale's dominant position in the market, with a mere $2 billion separating the two. This strategic move could potentially position BlackRock as the world's largest Bitcoin fund, eclipsing Grayscale.

貝萊德 (BlackRock) 的 iShares 比特幣信託 (IBIT) 正在迅速接近灰階 (Grayscale) 在市場上的主導地位，兩者差距僅 20 億美元。這項戰略舉措可能使貝萊德超越灰階成為全球最大的比特幣基金。

In contrast, Grayscale's Bitcoin Trust (GBTC) has endured a 68-day depreciation, shedding over $16 billion and reducing its assets to $19.4 billion. Simultaneously, IBIT has witnessed consistent asset growth, accumulating approximately $17.3 billion.

相比之下，Grayscale 的比特幣信託基金 (GBTC) 經歷了 68 天的貶值，損失超過 160 億美元，資產減少至 194 億美元。同時，IBIT 的資產持續成長，累計約 173 億美元。

Grayscale's spot Bitcoin ETF has faced substantial capital outflows, with investors withdrawing $89.9 million in the past five days alone. This exodus brings the total outflow since January to $1.6 billion.

Grayscale 的現貨比特幣 ETF 面臨大量資金外流，光是過去五天，投資者就撤回了 8,990 萬美元。此次資金外流使 1 月以來的資金外流總額達到 16 億美元。

Despite its initial dominance, Grayscale's grip on the Bitcoin ETF market appears to be waning. Fidelity and BlackRock swiftly gained significant market share upon their entry into the sphere. In the same week, their respective Bitcoin ETFs garnered net inflows of $37.3 million and $18.7 million, alleviating liquidity concerns in the market.

儘管最初佔據主導地位，但灰階對比特幣 ETF 市場的控制似乎正在減弱。富達和貝萊德進入該領域後迅速獲得了巨大的市場份額。同一周，各自的比特幣 ETF 分別獲得 3,730 萬美元和 1,870 萬美元的淨流入，緩解了市場的流動性擔憂。

Horsley emphasizes the "stealthy but significant" adoption of Bitcoin ETFs by registered investment advisers (RIAs) and multifamily offices. He observes that major financial institutions are discreetly scrutinizing the Bitcoin market for potential opportunities.

Horsley 強調，註冊投資顧問 (RIA) 和聯合家族辦公室「秘密但重要」地採用了比特幣 ETF。他觀察到主要金融機構正在謹慎地審查比特幣市場以尋找潛在機會。

GBTC Outflows Moderate Amidst Market Adjustments and Regulatory Developments

在市場調整和監管發展的背景下，GBTC 資金流出溫和

According to Farside data, GBTC experienced withdrawals of $17.5 million on April 10, a notable reduction compared to the $154.9 million outflow recorded on April 9. The previous low was $22.4 million on February 26. Since January, the average daily GBTC outflow has been $257.8 million.

Farside 數據顯示，4 月10 日GBTC 提現額為1,750 萬美元，較4 月9 日記錄的1.549 億美元流出量顯著減少。 ，GBTC 日均流出量為257.8 美元百萬。

Established in 2015, GBTC transitioned into an ETF in January. This conversion followed Grayscale's successful lawsuit against the United States Securities and Exchange Commission (SEC), compelling the agency to reconsider their denial of GBTC's conversion application.

GBTC 成立於 2015 年，1 月轉型為 ETF。此次轉換是在 Grayscale 對美國證券交易委員會 (SEC) 提起成功訴訟之後進行的，迫使該機構重新考慮是否拒絕 GBTC 的轉換申請。

It is noteworthy that Genesis, a defunct cryptocurrency lending company, liquidated approximately 36 million GBTC shares to acquire 32,041 Bitcoin.

值得注意的是，已倒閉的加密貨幣借貸公司 Genesis 清算了約 3,600 萬股 GBTC 股票，收購了 32,041 枚比特幣。

Conclusion

結論

The surge in Bitcoin ETF investments by wealth management firms underscores the growing demand for cryptocurrency assets and the shift in market dynamics. As Bitcoin continues to gain recognition and institutional adoption, investors are seeking diversified exposure through exchange-traded funds.

財富管理公司比特幣 ETF 投資的激增凸顯了對加密貨幣資產的需求不斷增長以及市場動態的轉變。隨著比特幣不斷獲得認可和機構採用，投資者正在透過交易所交易基金尋求多元化投資。

The competition between BlackRock and Grayscale for market dominance will likely intensify, potentially resulting in more investment options and lower fees for investors. Moreover, the regulatory landscape for Bitcoin ETFs is evolving, with the SEC expected to approve spot Bitcoin ETFs in the near future.

貝萊德和灰階之間爭奪市場主導地位的競爭可能會加劇，這可能會為投資者帶來更多的投資選擇和更低的費用。此外，比特幣 ETF 的監管環境正在不斷變化，美國證券交易委員會 (SEC) 預計將在不久的將來批准現貨比特幣 ETF。

These developments indicate a maturing Bitcoin market, attracting institutional capital and paving the way for broader acceptance of cryptocurrency investments.

這些發展表明比特幣市場日趨成熟，吸引了機構資本，並為更廣泛地接受加密貨幣投資鋪平了道路。