加密ETP上周看到的谦虚流入，从创纪录的流出段中延伸了逆转

上周，加密货币交易所交易产品（ETP）继续看到适度的流入，从创纪录的流出曲折中逆转了逆转。

Cryptocurrency exchange-traded product (ETP) inflows continued for a second consecutive week, suggesting that investors are becoming slightly more positive on digital assets.

加密货币交易所交易产品（ETP）连续第二周持续了流入，这表明投资者对数字资产的积极性略有积极。

Global crypto ETPs saw an inflow of $226 million in the last trading week, adding to the previous week’s $644 million, digital assets management firm CoinShares reported on Friday.

全球加密ETP在上一个交易周的流入为2.26亿美元，增加了上周的6.44亿美元数字资产管理公司Coinshares周五报道。

The positive trend comes after a record-breaking streak of outflows, which amounted to $1.7 billion in four weeks.

积极的趋势是在创纪录的流出纪录之后，在四个星期内达到17亿美元。

However, despite the two-week positive trend after a five-week outflow streak, total assets under management (AUM) continued to decline, dropping below $134 million by March 28.

然而，尽管经过五周的流出连胜，尽管两周的积极趋势为期两周，但管理总资产（AUM）仍在下降，到3月28日下降到1.34亿美元以下。

Weekly crypto ETP flows since late 2024. Source: CoinShares

自2024年底以来，每周加密ETP流动。来源：Coinshares

Last week’s inflows suggest positive but cautious investor behavior amid core Personal Consumption Expenditures in the US coming in above expectations, CoinShares’ head of research James Butterfill said.

Coinshares的研究负责人James Butterfill说，上周的流入表明，在美国的核心个人消费支出中，积极但谨慎的投资者行为表现出高于预期的核心个人消费支出。

Bitcoin leads weekly inflows

比特币每周流入

Bitcoin (BTC) investment products attracted the majority of inflows, with a total of $195 million for the week, while short-BTC investment products saw outflows for the fourth consecutive week, amounting to $2.5 million.

比特币（BTC）投资产品吸引了大部分流入，一周的总计1.95亿美元，而短时BTC投资产品连续第四周看到了流出，总计250万美元。

Altcoins, in aggregate, saw their first week of inflows with a total of $33 million, following four consecutive weeks of outflows totaling $1.7 billion.

Altcoins总共看到了他们的第一周流入，总计3,300万美元，此后连续四个星期的流出总计17亿美元。

Flows by asset (in millions of US dollars). Source: CoinShares

通过资产流动（数百万美元）。资料来源：Coinshares

Among individual altcoins, Ether (ETH) saw $14.5 million in inflows. Solana (SOL), XRP (XRP) and Sui (SUI) followed with $7.8 million, $4.8 million and $4 million, respectively.

在各个山寨币中，Ether（ETH）的流入量为1450万美元。 Solana（Sol），XRP（XRP）和SUI（SUI）随后分别为780万美元，480万美元和400万美元。

AUM drops to lowest level in 2025 amid price slump

在价格低落中，AUM降至2025年的最低水平

Despite recent inflows, crypto ETPs have failed to trigger a reversal in terms of total AUM.

尽管最近流入，但加密ETP仍未触发AUM的逆转。

Since March 10, the total crypto ETP AUM dropped 5.7% from 142 billion, amounting to 133.9 billion as of March 28, the lowest level in 2025.

自3月10日以来，Crypto ETP AUM的总降低了5.7％，从1.42亿美元下降，截至3月28日，截至2025年的最低水平为139亿。

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According to CoinShares’ Butterfill, the AUM decline could be attributed to a slump in cryptocurrency prices.

根据Coinshares的Butterfill的说法，AUM的下降可能归因于加密货币价格下降。

“Recent price falls have pushed Bitcoin global ETPs’ total assets under management to their lowest level since just after the US election at $114 billion,” Butterfill wrote.

Butterfill写道：“最近的价格下跌使比特币全球ETP的总资产在美国大选之后的最低水平上达到了1,140亿美元的最低水平。”

Bitcoin price chart since Jan. 1, 2025. Source: CoinGecko

比特币价格表自2025年1月1日起。资料来源：Coingecko

Since January 1, 2025, the BTC price has dropped 13.6%, while the total market capitalization has tumbled nearly 20%, according to data from CoinGecko.

根据Coingecko的数据，自2025年1月1日以来，BTC的价格下跌了13.6％，而总市值跌幅了近20％。