随着 2025 年交易的开始，比特币和以太坊 ETF 的流量呈现对比

2025 年的第一个交易周揭示了比特币和以太坊 ETF 的显着趋势，其特点是两种最大的加密货币出现大量资金流出和表现分化。

Cryptocurrency exchange-traded funds (ETFs) saw contrasting fortunes in the first trading week of 2025, with Bitcoin attracting inflows while Ethereum faced outflows.

加密货币交易所交易基金 (ETF) 在 2025 年第一个交易周的命运形成鲜明对比，比特币吸引资金流入，而以太坊则面临资金流出。

According to data from Spot On Chain, Bitcoin ETFs saw inflows of $256 million from December 30, 2024, to January 3, 2025.

根据 Spot On Chain 的数据，从 2024 年 12 月 30 日到 2025 年 1 月 3 日，比特币 ETF 流入了 2.56 亿美元。

In contrast, Ethereum ETFs recorded a net outflow of $38.1 million during the same period.

相比之下，以太坊 ETF 同期净流出 3810 万美元。

Among the Bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) saw the largest outflows, with a record-breaking $332.6 million exiting the fund on January 2.

在比特币 ETF 中，贝莱德 (BlackRock) 的 iShares Bitcoin Trust (IBIT) 的资金流出量最大，1 月 2 日流出该基金的资金达创纪录的 3.326 亿美元。

This brings the total outflows from IBIT to over $900 million in the past three weeks.

这使得过去三周 IBIT 的总流出量超过 9 亿美元。

Despite the outflows, BlackRock remains the largest holder of Bitcoin through its IBIT fund, with approximately 548,505 BTC, valued at $52.81 billion.

尽管出现资金外流，贝莱德仍然是通过其 IBIT 基金持有比特币的最大持有者，持有约 548,505 枚比特币，价值 528.1 亿美元。

In 2024, BlackRock’s Bitcoin ETFs received a total of $37.2 billion in inflows, indicating strong interest earlier in the year.

2024 年，贝莱德的比特币 ETF 总共收到 372 亿美元的资金流入，表明今年早些时候的浓厚兴趣。

Turning to Ethereum, the seven-week streak of inflows into ETH ETFs was snapped with a net outflow of $38.1 million during the week.

转向以太坊，ETH ETF 连续七周的资金流入被终止，本周净流出 3810 万美元。

Within the fund lineup, Grayscale’s Ethereum Trust (ETHE) and Bitwise’s Ethereum ETF (ETHW) saw sizable outflows of $21.4 million and $56.1 million, respectively.

在基金阵容中，Grayscale 的以太坊信托 (ETHE) 和 Bitwise 的以太坊 ETF (ETHW) 分别出现了 2140 万美元和 5610 万美元的大规模资金流出。

BlackRock’s Ethereum ETF (ETHA), which saw inflows of $3.53 billion in 2024, had no activity during the first trading days of 2025.

贝莱德的以太坊 ETF (ETHA) 在 2024 年流入了 35.3 亿美元，但在 2025 年的第一个交易日没有任何活动。

Currently, BlackRock holds approximately 1,071,415 ETH, valued at $3.68 billion, making it the largest institutional holder of Ethereum.

目前，贝莱德持有约 1,071,415 枚 ETH，价值 36.8 亿美元，是以太坊最大的机构持有者。

The contrasting flows in Bitcoin and Ethereum ETFs point to diverging investor sentiment at the start of the year.

比特币和以太坊 ETF 的流量差异表明，年初投资者情绪出现分歧。

Bitcoin’s strong inflows of $256 million during the week suggest continued confidence in the asset as a store of value, even amid significant outflows from BlackRock’s IBIT.

比特币本周强劲流入 2.56 亿美元，表明即使在贝莱德 IBIT 大量资金流出的情况下，人们仍然对该资产作为价值储存手段抱有信心。

Institutional investors may be reallocating funds across various ETFs, balancing short-term volatility with long-term potential.

机构投资者可能会在各种 ETF 之间重新分配资金，平衡短期波动性与长期潜力。

On the other hand, Ethereum’s weekly outflow signals a cooling of enthusiasm, possibly due to macroeconomic factors or a shift in sentiment following the strong performance in late 2024.

另一方面，以太坊每周的资金流出标志着热情的降温，这可能是由于宏观经济因素或继 2024 年末强劲表现后情绪的转变。

The reversal comes after a six-week streak in Ethereum ETF inflows, raising questions about the sustainability of investor interest in Ethereum-based products.

这一逆转发生在以太坊 ETF 资金连续六周流入之后，引发了人们对投资者对基于以太坊的产品兴趣的可持续性的质疑。

Despite the recent outflows, BlackRock continues to dominate the cryptocurrency ETF space with a combined holding of $56.49 billion in Bitcoin and Ethereum.

尽管最近出现资金流出，贝莱德仍然在加密货币 ETF 领域占据主导地位，其持有的比特币和以太坊总价值达 564.9 亿美元。

The asset manager remains a key player in shaping institutional adoption of digital assets.

资产管理公司仍然是影响数字资产机构采用的关键参与者。

The record-breaking outflows, however, underscore the volatility and evolving dynamics of the cryptocurrency market.

然而，创纪录的资金流出凸显了加密货币市场的波动性和不断变化的动态。

As 2025 unfolds, the performance of Bitcoin and Ethereum ETFs will be closely monitored by market participants.

随着 2025 年的到来，比特币和以太坊 ETF 的表现将受到市场参与者的密切关注。

Bitcoin’s ability to attract inflows despite significant outflows from BlackRock highlights its resilience and enduring appeal among institutional investors.

尽管贝莱德资金大量流出，但比特币仍能吸引资金流入，这突显了其韧性和对机构投资者的持久吸引力。

Conversely, Ethereum faces challenges in maintaining momentum, with the first weekly outflow in six weeks signaling potential headwinds.

相反，以太坊在保持势头方面面临挑战，六周以来首次每周资金流出预示着潜在的阻力。

The contrasting trends reflect the dynamic nature of the cryptocurrency market and the growing role of ETFs in shaping investment strategies.

对比鲜明的趋势反映了加密货币市场的动态性质以及 ETF 在制定投资策略方面日益重要的作用。

As institutional and retail investors navigate these shifts, the trajectory of Bitcoin and Ethereum ETFs will serve as a barometer for broader market sentiment and adoption trends.

随着机构和散户投资者应对这些转变，比特币和以太坊 ETF 的走势将成为更广泛的市场情绪和采用趋势的晴雨表。