比特币（BTC）交换贸易资金（ETF）在第一年的持续资本流入留下了深刻的印象

比特币ETF于2024年1月推出，第一年的资本流入率连续流入留下了深刻的印象。但是，自今年2月以来，趋势已经扭转

Launched in January 2024, Bitcoin ETFs impressed with continuous capital inflows in their first year. However, since February this year, the trend has reversed, and experts are now taking a more differentiated view of Bitcoin ETFs.

比特币ETF于2024年1月推出，第一年的资本流入率连续流入留下了深刻的印象。但是，自今年2月以来，这种趋势已经逆转，专家现在正在对比特币ETF进行更差异化的看法。

In the crypto year 2024, Bitcoin ETFs were rightfully a dominant topic

在2024年加密货币年中，比特币ETF理所当然地是一个主题

With combined capital inflows totaling over $35 billion, Bitcoin ETFs significantly exceeded even the boldest forecasts at the turn of the year, and in January 2025, the total grew to its all-time high of over $40 billion. But a trend has now reversed, as data from SoSo illustrates. In February and March, Bitcoin ETFs experienced capital outflows on the vast majority of trading days, thus falling back to the levels seen at the turn of the year. Is the Bitcoin ETF success story already over?

由于资本流入总计超过350亿美元，比特币ETF显着超过了一年中最大胆的预测，而在2025年1月，总数增长到了其历史最高高度超过400亿美元。但是如SOSO的数据所示，现在趋势已经扭转了。在2月和3月，比特币ETF在绝大多数交易日内经历了资本流出，因此可以追溯到年初的水平。比特币ETF成功故事已经结束了吗？

Bloomberg expert Eric Balchunas gives the all-clear via X : Taking into account the special case of Grayscale and BTC price fluctuations, according to Bloomberg calculations, 95 percent of the capital flowing into Bitcoin ETFs has remained loyal to them. Balchunas attributes this to the so-called “Boomers,” who view their investments as long-term private retirement savings.

彭博专家埃里克·巴尔库纳斯（Eric Balchunas）通过X：考虑到灰度和BTC价格波动的特殊情况，根据彭博社的计算，流入比特币ETF的资本中有95％仍然忠于他们。 Balchunas将其归因于所谓的“婴儿潮一代”，他们将投资视为长期私人退休储蓄。

These “Boomers,” born between 1946 and 1964, are considered the financially strong generation in the US, which has been driving the general ETF boom for years and is also taking the lead in Bitcoin.

这些“婴儿潮一代”在1946年至1964年之间出生，被认为是美国的财务强劲一代，它一直在推动一般的ETF繁荣，并且还在比特币领先。

But Balchunas also highlights a side effect of the recent negative period for Bitcoin ETFs on X. Over the weekend, gold ETFs in the US overtook Bitcoin ETFs in terms of invested capital for the first time since October 2024, thanks to rising gold prices.

但是Balchunas还强调了比特币ETF最近对X的负面负面时期的副作用。在周末，由于黄金价格上涨，美国的Gold ETF在2024年10月以来首次超越了投资资本的Bitfoin ETF。

“The empire strikes back,” Balchunas comments whimsically. In a second post, Balchunas reiterates his prediction that Bitcoin ETFs will garner three times as much capital as gold ETFs in the future. “It won’t be an easy path, more like two steps forward and one step back,” Balchunas expects.

“帝国反击了，”巴尔丘纳斯异想天开地评论道。在第二篇文章中，Balchunas重申了他的预测，即比特币ETF将来将获得三倍的资本。 “这不是一条简单的道路，更像是向前两步，向后一步，”巴尔乔纳斯（Balchunas）期望。

Conclusion: Bitcoin ETFs are far from being written off

结论：比特币ETF远非被注销

Other analysts believe that some investors are currently preparing for the approval of additional crypto ETFs by the U.S. Securities and Exchange Commission (SEC) and are therefore reallocating capital. On the other hand, Bitcoin’s market dominance in the crypto markets is continuously increasing, and at a good 60 percent compared to all altcoins combined, demonstrates the special position that BTC enjoys.

其他分析师认为，一些投资者目前正在为美国证券交易委员会（SEC）（SEC）批准额外的加密ETF做准备，因此正在重新分配资本。另一方面，比特币在加密货币市场中的市场优势正在不断增加，与所有AltCoins合并相比，比特币在60％的范围内增长了，这表明了BTC所享有的特殊位置。

It’s hard to imagine that Bitcoin ETFs will prove to be a “one-year wonder” at a time when the US, under Donald Trump, is even establishing a strategic BTC reserve . However, only a few consecutive trading days, in which Bitcoin ETFs could record further capital inflows, are nerves likely to calm down.

很难想象，在唐纳德·特朗普（Donald Trump）领导下，比特币ETF将被证明是“一年的奇迹”。但是，只有几天的交易日（比特币ETF可以记录进一步的资本流入）可能会平静下来。

__

(Featured image by Daniel Dan via Pexels)

（丹尼尔·丹（Daniel Dan）的特色图像通过pexels）

DISCLAIMER: This article was written by a third-party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

免责声明：本文是由第三方撰稿人撰写的，并不反映Born2invest，其管理层，员工或其同事的意见。请查看我们的免责声明以获取更多信息。

This article may include forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "estimate," "become," "plan," "will," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

本文可能包括前瞻性语句。这些前瞻性陈述通常由“相信”，“项目”，“估算”，“ beath”，“ plan”，“ will”和类似表达式的单词标识。这些前瞻性的陈述涉及已知和未知风险以及不确定性，包括以下警告性陈述以及本文和本网站其他地方讨论的那些。尽管公司可能会认为其期望是基于合理的假设，但公司可能取得的实际结果可能与任何前瞻性陈述有实质性差异，这些陈述仅反映了公司管理的意见。此外，请确保阅读这些重要的披露。

First published in BLOCK-BUILDERS.DE. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

首次发表在Block-Builders.de中。第三方撰稿人翻译并改编了原始文章。如果存在差异，原件将占上风。

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us

尽管我们做出了合理的努力来提供准确的翻译，但某些部分可能是不正确的。 BORN2Invest对本网站提供的翻译中的错误，遗漏或歧义不承担任何责任。依靠翻译内容的任何个人或实体都会自负。 BORN2Invest对依赖翻译信息的准确性或可靠性造成的损失概不负责。如果您想报告翻译中的错误或不准确性，我们鼓励您与我们联系