比特币减半引发投资者不安，引发数字资产投资资金外流

CoinShares 报告显示，数字资产投资产品经历了总计 2.06 亿美元的大幅流出，其中比特币占 1.92 亿美元。这恰逢近期比特币减半，引发投资者担忧。以太坊也出现了 3400 万美元的资金外流。然而，区块链股票已连续11周出现资金流出。

Bitcoin Halving Spurs Fear, Outflows in Digital Asset Investments

比特币减半引发恐惧，数字资产投资资金外流

As the historic Bitcoin halving event drew to a close, a recent report has revealed that this pivotal moment for the cryptocurrency industry has triggered concerns among investors, leading to significant outflows from digital asset investment products.

随着历史性的比特币减半事件接近尾声，最近的一份报告显示，这一加密货币行业的关键时刻引发了投资者的担忧，导致数字资产投资产品出现大量资金流出。

A report published by CoinShares, a leading provider of digital asset investment products, indicates that these products have experienced outflows for the second consecutive week, reaching a total of $206 million, up from $106 million the previous week. This trend coincides with the approach and subsequent occurrence of the Bitcoin halving on April 20, which saw the halving of mining rewards. The report suggests that investors may be apprehensive about the potential consequences of this halving.

领先的数字资产投资产品提供商CoinShares发布的报告显示，这些产品连续第二周出现资金流出，资金总额达到2.06亿美元，高于前一周的1.06亿美元。这一趋势与 4 月 20 日比特币减半的临近和随后的发生相吻合，减半导致挖矿奖励减半。该报告表明，投资者可能对减半的潜在后果感到担忧。

The outflows have been predominantly concentrated in Bitcoin, with $192 million worth of outflows recorded. Ethereum followed with $34 million worth of outflows. According to CoinGecko data, Bitcoin experienced a 9% decline during the previous week.

资金外流主要集中在比特币，记录的资金外流价值为 1.92 亿美元。以太坊紧随其后，流出价值 3400 万美元。根据 CoinGecko 数据，比特币上周下跌 9%。

Beyond Bitcoin, exchange-traded funds (ETFs) and funds that invest in blockchain equities such as MicroStrategy, Square, and Coinbase have also experienced 11 consecutive weeks of outflows, totaling $9 million. This aligns with data from Farside Investor, which reported a record-tying five-day outflow from Bitcoin ETFs last week.

除比特币外，交易所交易基金（ETF）以及 MicroStrategy、Square 和 Coinbase 等投资区块链股票的基金也连续 11 周出现资金流出，总计 900 万美元。这与 Farside Investor 的数据相符，该公司上周报告称，比特币 ETF 的五天资金流出创历史新高。

Notably, this negative sentiment is primarily concentrated in U.S. ETFs, which witnessed $244 million worth of outflows last week. In contrast, other countries such as Canada and Switzerland have experienced moderate inflows. The report attributes this disparity to reports suggesting that the Federal Reserve Board (FED) is unlikely to lower interest rates this year, which may be dampening the appetite for ETPs/ETFs.

值得注意的是，这种负面情绪主要集中在美国 ETF 上，上周该类 ETF 资金流出价值 2.44 亿美元。相比之下，加拿大和瑞士等其他国家的资金流入量不大。该报告将这种差异归因于有报道称美联储今年不太可能降低利率，这可能会抑制对 ETP/ETF 的兴趣。

Despite investor concerns that the halving would negatively impact miners, preliminary data indicate otherwise. According to Blockchain.com, miner daily revenue surged from $71 million the day before the halving to $107 million on the day of the event.

尽管投资者担心减半会对矿商产生负面影响，但初步数据表明并非如此。据 Blockchain.com 称，矿工日收入从减半前一天的 7100 万美元飙升至活动当天的 1.07 亿美元。

This surge is partly attributed to the launch of Runes, a new rival to the ERC-20 Bitcoin token standard. Projects have been raising funds to become among the first 10 runes engraved onto the Bitcoin network. For instance, Runestone raised over $140,000 for network fees to secure its position as one of the early runes. The project subsequently claimed to have etched the third Rune with the inscription "DOG•GO•TO•THE•MOON."

这一激增的部分原因是 Runes 的推出，这是 ERC-20 比特币代币标准的新竞争对手。项目一直在筹集资金，以成为首批刻在比特币网络上的 10 个符文之一。例如，Runestone 筹集了超过 140,000 美元的网络费用，以确保其作为早期符文之一的地位。该项目随后声称已蚀刻出第三个符文，上面刻有“DOG•GO•TO•THE•MOON”字样。

The Bitcoin halving event has highlighted the potential for market volatility and uncertainty. While investor concerns are understandable, it remains to be seen how the long-term implications of this halving will shape the cryptocurrency landscape.

比特币减半事件凸显了市场波动和不确定性的可能性。虽然投资者的担忧是可以理解的，但减半的长期影响将如何塑造加密货币格局仍有待观察。