贝莱德的比特币 ETF 遭遇经济放缓，表明机构谨慎

贝莱德的现货比特币 ETF (IBIT) 自 1 月份推出以来首日没有资金流入，结束了连续 71 天的资金流入。现货 ETF 资金流入放缓和比特币交易区间狭窄导致加密货币价格升值放缓。贝莱德 (BlackRock) 的 IBIT 是最大的现货比特币 ETF，已积累了超过 150 亿美元的资金，但本月资金流入有所放缓。

BlackRock's Bitcoin ETF Breaks 71-Day Inflow Streak, Signalizing Slowdown in Institutional Adoption

贝莱德比特币 ETF 打破 71 天连续流入，表明机构采用放缓

New York, April 25, 2024 - BlackRock's spot bitcoin exchange-traded fund (IBIT), heralded as a catalyst for institutional adoption of the cryptocurrency, has experienced its first day without any inflows since its inception. The development, observed on Wednesday, marks a significant departure from the sustained momentum that characterized the fund's first three months of operation.

纽约，2024 年 4 月 25 日 - 贝莱德的现货比特币交易所交易基金 (IBIT) 被誉为机构采用加密货币的催化剂，但自成立以来第一天没有任何资金流入。周三观察到的这一事态发展，标志着该基金前三个月运营的持续势头明显背离。

Weakening Institutional Enthusiasm

机构热情减弱

The halt in inflows into IBIT, traded on the Nasdaq under the ticker symbol IBIT, coincides with a broader slowdown in the pace of institutional adoption of bitcoin. This trend is reflected in reduced inflows into other spot bitcoin ETFs, with seven out of the ten largest such funds exhibiting declines.

IBIT（在纳斯达克交易，股票代码为 IBIT）的资金流入停止，恰逢机构采用比特币的步伐普遍放缓。这一趋势反映在其他现货比特币 ETF 的流入量减少上，十大此类基金中有七只出现了下降。

Prominent among these is Fidelity's FBTC, which registered a modest inflow of $5.6 million, while ARK 21Shares Bitcoin ETF (ARKB) attracted $4.2 million. However, the decline in inflows into Grayscale's GBTC was particularly noteworthy, with an outflow of $130.4 million. This brings the cumulative outflow from GBTC to $120.6 million, marking its highest level since April 17.

其中最引人注目的是富达 (Fidelity) 的 FBTC，其资金流入温和，为 560 万美元，而 ARK 21Shares 比特币 ETF (ARKB) 则吸引了 420 万美元。然而，Grayscale 的 GBTC 流入量下降尤其值得注意，流出额为 1.304 亿美元。这使得 GBTC 的累计流出量达到 1.206 亿美元，创下 4 月 17 日以来的最高水平。

Early Enthusiasm Cools

早期的热情降温

The launch of spot bitcoin ETFs in the United States on January 11 was met with great fanfare, with industry experts anticipating billions of dollars in institutional investment. BlackRock's IBIT has emerged as the frontrunner, amassing over $15 billion in assets under management. However, the initial surge in inflows has subsided in recent weeks, with the slowdown particularly pronounced in April.

1 月 11 日，现货比特币 ETF 在美国推出，引起了热烈的关注，行业专家预计将吸引数十亿美元的机构投资。贝莱德 (BlackRock) 的 IBIT 已成为领跑者，管理的资产超过 150 亿美元。然而，最近几周资金流入最初的激增已经消退，四月份的放缓尤其明显。

Bitcoin Price Stagnates

比特币价格停滞不前

The cooling of institutional enthusiasm has coincided with a period of relative price stagnation for bitcoin. The cryptocurrency, which started the year at around $30,000, has been trading largely within a range of $60,000 to $70,000 this month. This represents a significant departure from the first quarter's near 70% rally, which drove bitcoin to an all-time high above $73,500.

机构热情的降温恰逢比特币价格相对停滞的时期。这种加密货币年初价格约为 30,000 美元，本月交易价格基本在 60,000 美元至 70,000 美元之间。这与第一季度近 70% 的涨幅存在显着差异，第一季度比特币价格上涨至 73,500 美元以上的历史新高。

Industry Impact

行业影响

The slowdown in institutional adoption of bitcoin, as reflected in the pause in inflows into spot bitcoin ETFs, has raised concerns among some industry observers. While the underlying reasons for this trend are still being debated, it suggests that the pace of institutional adoption may not have met initial expectations.

机构采用比特币的速度放缓，这反映在现货比特币 ETF 资金流入的暂停上，这引起了一些行业观察人士的担忧。尽管这一趋势的根本原因仍在争论中，但这表明机构采用的速度可能未达到最初的预期。

Conclusion

结论

BlackRock's bitcoin ETF has emerged as a bellwether for institutional adoption of the cryptocurrency. The fund's first day without inflows, coupled with the broader slowdown in inflows into spot bitcoin ETFs, may portend a recalibration of expectations regarding the pace of institutional adoption. As the market continues to evolve and develop, it remains to be seen whether this trend will continue or whether renewed institutional interest will re-energize the bitcoin bull run.

贝莱德的比特币 ETF 已成为机构采用加密货币的领头羊。该基金第一天没有资金流入，加上现货比特币 ETF 资金流入普遍放缓，可能预示着机构采用步伐的预期将重新调整。随着市场的不断演变和发展，这种趋势是否会持续，或者新的机构兴趣是否会重新激发比特币牛市，还有待观察。