比特币现货 ETF 在市场调整中出现资金流出

美国现货比特币ETF出现了连续六天流出的显着趋势，其中贝莱德的IBIT ETF于5月1日首次流出3690万美元。本周，比特币出现自 FTX 崩盘以来最大单月跌幅 11%，其他所有 9 只 ETF 合计流出 5.268 亿美元。

Bitcoin Spot ETFs Experience Outflows Amid Market Downturn

市场低迷期间，比特币现货 ETF 出现资金外流

The spot Bitcoin exchange-traded funds (ETFs) in the United States have witnessed a notable trend in recent days, with outflows dominating the market for six consecutive days. This development coincides with Bitcoin's most challenging month since the aftermath of the 2022 FTX collapse, registering a significant decline of 11% over the week.

美国现货比特币ETF近期走势明显，资金流出连续六日占据市场主导地位。这一发展恰逢比特币自 2022 年 FTX 崩盘以来最具挑战性的一个月，一周内大幅下跌 11%。

Record-Breaking Outflows

创纪录的资金流出

Data from Farside Investors paints a clear picture of the recent outflow trend. BlackRock's Bitcoin fund, IBIT, encountered its first instance of outflows on May 1st, amounting to $36.9 million. Simultaneously, the other nine ETFs collectively recorded outflows totaling $526.8 million on the same day.

Farside Investors 的数据清楚地描绘了近期的资金外流趋势。贝莱德旗下比特币基金 IBIT 于 5 月 1 日遭遇首次资金流出，资金流出金额达 3690 万美元。与此同时，其他 9 只 ETF 同日共流出 5.268 亿美元。

The largest outflow was observed in the Fidelity Wise Origin Bitcoin Fund (FBTC), which saw $191.1 million in net outflows. Grayscale Bitcoin Trust (GBTC) followed closely with outflows of $167.4 million. ARK 21Shares and Franklin Bitcoin ETFs contributed to the largest single outflow day for U.S. spot Bitcoin ETFs, with outflows of $98.1 million and $13.4 million, respectively.

最大的资金流出出现在 Fidelity Wise Origin 比特币基金 (FBTC)，该基金的净流出量为 1.911 亿美元。灰度比特币信托基金 (GBTC) 紧随其后，流出 1.674 亿美元。 ARK 21Shares 和 Franklin 比特币 ETF 创造了美国现货比特币 ETF 单日最大流出量，分别流出 9810 万美元和 1340 万美元。

Broader Market Decline

更广泛的市场下跌

The trend of outflows aligns with the broader market downturn in the cryptocurrency sector. CoinGecko data indicates that Bitcoin's price is down by more than 10% this week. Following Tuesday's decline, BTC and the wider market are poised to break their seven-month streak of gains, marking their most significant monthly decline since November 2022, when the crypto exchange FTX collapsed.

资金外流的趋势与加密货币行业大范围的市场低迷一致。 CoinGecko数据显示，比特币价格本周下跌超过10%。继周二的下跌之后，比特币和更广泛的市场有望打破连续七个月的上涨势头，这是自 2022 年 11 月加密货币交易所 FTX 崩溃以来最大幅度的月度跌幅。

By the end of April, Bitcoin had plummeted by over 16%, while Ethereum saw an 18% decrease in value. Smaller cryptocurrencies faced even higher declines, with popular altcoins like SOL, Dogecoin (DOGE), and Avalanche (AVAX) experiencing drops ranging from 35% to 40% throughout April.

截至 4 月底，比特币暴跌超过 16%，而以太坊价值下跌 18%。较小的加密货币面临着更大的跌幅，SOL、Dogecoin (DOGE) 和 Avalanche (AVAX) 等流行的山寨币在 4 月份的跌幅从 35% 到 40% 不等。

The total market capitalization of the cryptocurrency market has shrunk by nearly 18%, representing its biggest decline since June 2022. At the time of writing, Bitcoin is trading at $57,600, while most altcoins have performed better.

加密货币市场总市值缩水近18%，创2022年6月以来最大跌幅。截至撰写本文时，比特币交易价格为57,600美元，而大多数山寨币表现较好。

Analysts' Perspectives

分析师的观点

Despite the challenges, Bloomberg ETF analyst James Seyffart maintains an optimistic outlook, stating that spot Bitcoin ETFs are "operating smoothly across the board" and emphasizing that inflows and outflows are a natural part of the ETF lifecycle.

尽管面临挑战，彭博 ETF 分析师 James Seyffart 仍保持乐观前景，表示现货比特币 ETF“全面运行平稳”，并强调资金流入和流出是 ETF 生命周期的自然组成部分。

"Should add — these ETFs are operating smoothly across the board. Inflows and outflows are part of the norm in the life of an ETF."

“应该补充的是，这些 ETF 全面运营平稳。资金流入和流出是 ETF 生命周期中常态的一部分。”

• James Seyffart (@JSeyff) May 2, 2024

Echoing this sentiment, ETF Store president Nate Geraci emphasized that such fluctuations are common in the ETF market. He drew parallels with the outflows experienced by traditional assets like gold ETFs, pointing out that the metal's prices have surged by 16% year-to-date despite significant outflows. This year, the iShares Gold ETF and SPDR Gold ETFs have witnessed outflows of $1 billion and $3 billion, respectively.

James Seyffart (@JSeyff) 2024 年 5 月 2 日 ETF Store 总裁 Nate Geraci 呼应了这种观点，强调这种波动在 ETF 市场中很常见。他将黄金 ETF 等传统资产的资金外流进行了类比，指出尽管出现大量资金外流，但今年迄今为止，黄金价格已飙升 16%。今年，iShares 黄金 ETF 和 SPDR 黄金 ETF 分别流出 10 亿美元和 30 亿美元。

Conclusion

结论

The recent outflows in U.S. spot Bitcoin ETFs reflect the broader market downturn that has plagued the cryptocurrency sector in recent weeks. However, analysts remain confident in the long-term prospects of spot Bitcoin ETFs, emphasizing their operational stability and the natural fluctuations of inflows and outflows within the ETF lifecycle.

最近美国现货比特币 ETF 的资金流出反映了近几周来困扰加密货币行业的更广泛的市场低迷。然而，分析师对现货比特币 ETF 的长期前景仍然充满信心，强调其运营稳定性以及 ETF 生命周期内流入和流出的自然波动。