随着市场情绪降温，贝莱德的比特币 ETF 势头陷入停滞

贝莱德旗下 IBIT 比特币 ETF 打破了连续 71 天的资金流入记录，这是该基金自推出以来首次未能吸引新投资。在此背景下，比特币 ETF 投资大幅下降，灰度资金大幅流出。贝莱德的 IBIT 仍然是最大的比特币 ETF，但它面临着来自香港即将推出的比特币现货 ETF 的日益激烈的竞争。

BlackRock's Bitcoin ETF Momentum Stalls as Market Cools

随着市场降温，贝莱德的比特币 ETF 势头陷入停滞

BlackRock's iShares Bitcoin Trust (IBIT), a prominent Bitcoin-linked exchange-traded fund (ETF), has experienced its first days of zero inflow since its inception. This break in the 71-day streak of continuous inflows signals a potential shift in market sentiment as Bitcoin's price faces uncertainty following the recent halving.

贝莱德旗下的 iShares 比特币信托基金 (IBIT) 是一家著名的比特币挂钩交易所交易基金 (ETF)，自成立以来，首日经历了零资金流入。连续 71 天的资金流入中断标志着市场情绪可能发生转变，因为比特币价格在最近减半后面临不确定性。

Unprecedented Inflow Streak Ends

前所未有的资金连续流入结束

Since its launch in October 2021, IBIT has witnessed a remarkable 71-day period of uninterrupted net inflows, attracting substantial investor interest in the Bitcoin market. However, on Wednesday, April 24, this impressive streak came to an end.

自 2021 年 10 月推出以来，IBIT 见证了连续 71 天不间断的净流入，吸引了投资者对比特币市场的浓厚兴趣。然而，4 月 24 日星期三，这一令人印象深刻的连续纪录结束了。

The market's recent cooling-off period, coupled with concerns over Bitcoin's price trajectory post-halving, has seemingly dampened investor enthusiasm. Over the past ten days, IBIT has recorded diminishing inflows, with investors expressing caution regarding the potential impact of the halving on Bitcoin's value.

市场最近的冷静期，加上对比特币减半后价格走势的担忧，似乎削弱了投资者的热情。在过去的十天里，IBIT 的资金流入不断减少，投资者对减半对比特币价值的潜在影响表示谨慎。

Persistence Amidst Adversity

逆境中坚持

Despite the setback, the 71-day inflow streak remains a significant accomplishment for IBIT. Among all ETFs, only nine have surpassed this duration, including JPMorgan's JEPI US Equity with a record 160-day inflow period. Remarkably, IBIT stands out as the sole ETF on this list whose underlying asset, Bitcoin, is less than two decades old.

尽管遭遇挫折，连续 71 天的资金流入仍然是 IBIT 的一项重大成就。在所有ETF中，只有9只超过了这一期限，其中包括摩根大通的JEPI US Equity，其流入期限为创纪录的160天。值得注意的是，IBIT 脱颖而出，成为该名单上唯一一只基础资产比特币历史还不到二十年的 ETF。

Additionally, IBIT has contributed significantly to BlackRock's overall ETF portfolio. Since January, IBIT has accounted for an impressive 20% of all investments in BlackRock's ETF offerings, highlighting its sizable impact.

此外，IBIT 对贝莱德整体 ETF 投资组合做出了重大贡献。自 1 月份以来，IBIT 已占贝莱德 ETF 产品所有投资的 20%，令人印象深刻，凸显了其巨大影响力。

Broad Market Woes

广阔的市场困境

While BlackRock's IBIT ETF garnered considerable attention, the broader Bitcoin ETF market has faced challenges in recent weeks. On Wednesday, only Fidelity's FBTC and ARK's ARKB ETFs recorded inflows of $5.6 million and $4.2 million, respectively. Grayscale's Bitcoin Trust (GBTC) experienced a significant outflow of $130.4 million, bringing the total industry outflow to $120.6 million.

尽管贝莱德的 IBIT ETF 引起了相当大的关注，但更广泛的比特币 ETF 市场最近几周面临着挑战。周三，仅 Fidelity 的 FBTC 和 ARK 的 ARKB ETF 分别录得 560 万美元和 420 万美元的流入。 Grayscale的比特币信托（GBTC）经历了1.304亿美元的大幅流出，使行业总流出达到1.206亿美元。

The situation worsened on Thursday, with Fidelity losing $22.6 million, Ark losing $31.3 million, and Valkyrie's BRRR ETF losing $20.2 million. Combined with Grayscale's losses, the sector shed a substantial $217.6 million, marking its highest one-day outflow since April 8.

周四情况进一步恶化，Fidelity 损失 2260 万美元，Ark 损失 3130 万美元，Valkyrie 的 BRRR ETF 损失 2020 万美元。加上 Grayscale 的亏损，该行业损失了 2.176 亿美元，创下 4 月 8 日以来最高单日流出量。

Grayscale's Decline and Hong Kong's Rise

灰度的衰落和香港的崛起

Despite these setbacks, Grayscale's GBTC remains the market leader in Bitcoin ETFs. However, the company has faced significant outflows in recent months, losing $1.2 billion in April alone and a staggering $17.1 billion since converting its Bitcoin Trust into an ETF. At this rate, BlackRock's IBIT, with its current assets worth $15.476 billion, is well-positioned to overtake Grayscale as the leading Bitcoin ETF.

尽管遇到这些挫折，Grayscale 的 GBTC 仍然是比特币 ETF 的市场领导者。然而，该公司近几个月面临大幅资金外流，仅 4 月份就损失了 12 亿美元，自将比特币信托基金转换为 ETF 以来，损失额高达 171 亿美元。按照这个速度，贝莱德的 IBIT 以其流动资产价值 154.76 亿美元，完全有能力超越 Grayscale，成为领先的比特币 ETF。

Meanwhile, the American ETF market may soon face increased competition from Asia. Hong Kong is set to welcome its first Bitcoin spot ETFs on Monday, attracting capital from both Hong Kong and mainland China, which has previously banned direct investment in cryptocurrency.

与此同时，美国 ETF 市场可能很快就会面临来自亚洲的日益激烈的竞争。香港将于周一迎来首个比特币现货 ETF，吸引来自香港和中国大陆的资金，而中国大陆此前禁止直接投资加密货币。

Bitcoin Price Volatility

比特币价格波动

At the time of writing, Bitcoin trades at $64,400, exhibiting a modest 0.55% gain over the past 24 hours. However, the market remains volatile, with investors closely monitoring the impact of the halving and the regulatory landscape surrounding cryptocurrency.

截至撰写本文时，比特币交易价格为 64,400 美元，在过去 24 小时内小幅上涨 0.55%。然而，市场仍然波动，投资者密切关注减半的影响以及围绕加密货币的监管环境。