比特币 ETF 在市场动荡中坚挺，无视美联储警告

尽管联邦公开市场委员会对通胀和降息发出警告，但比特币交易所交易基金（ETF）仍然保持弹性，呈现出持续的净流入。这种弹性表明比特币 ETF 作为机构资产的潜在增长，这得益于不断变化的监管环境及其与直接加密操作相比简化的投资流程。

Bitcoin ETFs Defy FOMC Warnings, Exhibit Resilience Amid Market Volatility

比特币 ETF 无视 FOMC 警告，在市场波动中表现出韧性

Despite the Federal Open Market Committee's (FOMC) cautious stance on interest rate cuts and concerns about persistent inflation leading to a downturn in U.S. equity markets, Bitcoin [BTC] spot exchange-traded funds (ETFs) have demonstrated remarkable resilience, with ongoing net inflows. This surge in institutional demand underscores the growing recognition of Bitcoin as an institutional asset class and the potential for ETF growth in the evolving regulatory landscape.

尽管联邦公开市场委员会 (FOMC) 对降息持谨慎立场，并且担心持续通胀导致美国股市低迷，但比特币 [BTC] 现货交易所交易基金 (ETF) 却表现出了非凡的韧性，资金持续净流入。机构需求的激增凸显了人们对比特币作为一种机构资产类别的日益认可，以及 ETF 在不断变化的监管环境中增长的潜力。

Unfazed by Market Jitters

不受市场不安的影响

In the wake of the FOMC's meeting, which dampened investor sentiment, the Bitcoin spot ETF market has remained resilient. Net inflows have surged from $40.2 million on April 2 to $113.2 million on April 3, according to BitMEX's research report. This influx of capital has been led by the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw net inflows of $116.7 million on April 3, and the Bitwise Bitcoin ETF (BITB), which recorded net inflows of $22.6 million over the same period.

联邦公开市场委员会 (FOMC) 会议削弱了投资者情绪，但比特币现货 ETF 市场仍然保持弹性。根据 BitMEX 的研究报告，净流入量从 4 月 2 日的 4020 万美元飙升至 4 月 3 日的 1.132 亿美元。此次资本流入以 Fidelity Wise Origin 比特币基金 (FBTC) 和 Bitwise 比特币 ETF (BITB) 为主导，该基金 4 月 3 日净流入 1.167 亿美元，而 Bitwise 比特币 ETF (BITB) 同期净流入 2260 万美元。

Institutional Interest Drives Growth

机构利益推动增长

The surge in ETF inflows is a testament to the growing institutional appetite for Bitcoin. According to analysts, Bitcoin ETFs offer a simplified investment route for institutions, eliminating the operational complexities associated with holding Bitcoin directly.

ETF 资金流入的激增证明了机构对比特币的兴趣不断增长。分析师表示，比特币 ETF 为机构提供了简化的投资途径，消除了直接持有比特币相关的操作复杂性。

"I don't think it's unreasonable to think that there could be multiple hundreds of billions of dollars in these ETFs and allocation sizes could be you know between 1% and 5% and maybe scaling as the asset matures," said Hunter Horsley, Founder & CEO of Bitwise Asset Management.

创始人 Hunter Horsley 表示：“我认为，这些 ETF 的规模可能高达数千亿美元，分配规模可能在 1% 到 5% 之间，而且可能会随着资产的成熟而扩大规模。”兼 Bitwise 资产管理公司首席执行官。

Regulatory Evolution Supports Expansion

监管演变支持扩张

While Bitcoin ETFs have faced limited adoption in U.S. wealth management, optimism remains for their expansion as regulations evolve. Initially restricted to retail investors and independent advisors, ETF approval has gradually extended to larger institutions, reaching peak inflows in 2020.

尽管比特币 ETF 在美国财富管理领域的采用有限，但随着监管的发展，人们对比特币 ETF 的扩张仍持乐观态度。 ETF 的批准最初仅限于散户投资者和独立顾问，现已逐渐扩展到大型机构，并于 2020 年达到流入峰值。

Matt Hougan, CIO of Bitwise Asset Management, highlights this regulatory evolution as a key factor in the growing ETF market. He believes that the approval of Bitcoin ETFs, once considered a distant possibility, has paved the way for mainstream adoption.

Bitwise Asset Management 首席信息官 Matt Hougan 强调，这种监管演变是 ETF 市场不断增长的关键因素。他认为，曾经被认为遥远的比特币 ETF 获得批准，已经为主流采用铺平了道路。

Halving Event on the Horizon

减半事件即将发生

With Bitcoin's halving event approaching, sustained demand through the ETF market could help stabilize the cryptocurrency's price after the halving. The halving, which reduces the issuance of new Bitcoin by half, has historically been a bullish catalyst for the coin.

随着比特币减半事件的临近，ETF市场的持续需求可能有助于稳定减半后加密货币的价格。减半使新比特币的发行量减少一半，历史上一直是比特币看涨的催化剂。

"This is not the Bitcoin of yesterday's year, this is now considered an institutional asset," Horsley concluded.

“这不是去年的比特币，它现在被认为是一种机构资产，”霍斯利总结道。

Market Sentiment and Future Outlook

市场情绪及未来展望

While the upcoming U.S. Jobs Report could influence investor sentiment towards BTC, the ongoing net inflows into Bitcoin spot ETFs indicate a positive outlook for the cryptocurrency. The resilience of the ETF market in the face of broader economic concerns demonstrates the growing institutional recognition of Bitcoin's value as an alternative investment.

尽管即将发布的美国就业报告可能会影响投资者对 BTC 的情绪，但比特币现货 ETF 的持续净流入表明该加密货币的前景乐观。面对更广泛的经济担忧，ETF 市场的弹性表明机构越来越认可比特币作为另类投资的价值。

As regulations continue to evolve and institutional adoption grows, the future of Bitcoin ETFs appears promising. With their simplified investment route and the backing of major financial institutions, Bitcoin ETFs are poised to play a significant role in the mainstream adoption of cryptocurrency.

随着法规的不断发展和机构采用的增加，比特币 ETF 的未来似乎充满希望。凭借其简化的投资途径和主要金融机构的支持，比特币 ETF 有望在加密货币的主流采用中发挥重要作用。