加密投资产品连续第三周流出

尽管比特币（BTC）看到了5.45亿美元的年度流入，但

Crypto investment products experienced their third consecutive week of outflows, with $795 million exiting the market last week, according to the latest CoinShares figures.

根据最新的Coinshares数据，加密投资产品连续第三周经历了第三周的流出，7.95亿美元退出了市场。

The outflows were largely driven by Bitcoin funds, which saw a massive $751 million in outflows, which represents about 94% of all outflows. Despite this, BTC has seen year-to-date inflows of $545 million.

外流主要是由比特币基金驱动的，比特币基金的流出量为7.51亿美元，约占所有流出的94％。尽管如此，BTC逐年流入了5.45亿美元。

The persistent negative sentiment since early February has resulted in cumulative outflows reaching $7.2 billion. This has nearly eliminated all inflows recorded since the beginning of 2025. Current year-to-date inflows now stand at just $165 million.

自2月初以来的持续负面情绪导致累积流出达到72亿美元。这几乎消除了自2025年初以来记录的所有流入。当前的年度流入仅为1.65亿美元。

The money leaving the market was shared by almost all big cryptocurrency fund providers. The statistics indicated that ProShares ETFs alone received more funds for the week, which was $3.70 million. iShares ETFs/USA lost the largest amount of funds, at $341.64 million. Grayscale Investments LLC/USA lost $186.69 million. Fidelity Wise Origin Bitcoin Fund lost $74.63 million, and Bitwise Funds Trust lost $43.78 million.

几乎所有大型加密货币基金提供商都共享了离开市场的钱。统计数据表明，仅Proshares ETF就获得了本周的更多资金，为370万美元。 Ishares ETFS/美国损失了最多的资金，为3.4164亿美元。 Grayscale Investments LLC/USA损失了1.8669亿美元。 Fidelity Wise Origin Bitcoin Fund损失了7463万美元，而Bitwise Funds Trust损失了4,378万美元。

The other big providers that witnessed withdrawals were ARK 21 Shares/USA ($27.22 million), 21Shares AG ($11.26 million), and CoinShares XBT Provider AB ($7.70 million). The smaller providers as a group witnessed $106.05 million in withdrawals.

目睹提款的其他大型提供者是方舟21股/美国（2722万美元），21 Shares AG（1126万美元）和Coinshares XBT XBT提供商AB（770万美元）。较小的提供商作为一个团体目睹了1.0605亿美元的提款。

Looking at the asset breakdown, Bitcoin dominated with $751 million in outflows, accounting for 94% of the total. Ethereum followed as a distant second with $37.6 million in withdrawals. Other cryptocurrencies showing outflows included Solana ($5.11 million), Short Bitcoin ($4.58 million), Sui ($0.6 million), Cardano ($0.4 million), and Litecoin ($0.26 million).

从资产分解中，比特币以7.51亿美元的流出量为主导，占总数的94％。以太坊以遥远的第二名，提款为3760万美元。显示出流的其他加密货币包括Solana（511万美元），短币（458万美元），SUI（60万美元），Cardano（40万美元）和Litecoin（260万美元）。

A handful of assets managed to attract positive flows during the week, with XRP leading with $3.45 million in inflows. Multi-asset funds also saw modest gains, with $1.05 million in inflows. According to the CoinShares report, other altcoins with minor inflows included “Ondo, Algorand, and Avalanche [with] inflows of US$0.46m, US$0.25m and US$0.25m respectively.”

少数资产设法在一周内吸引了积极的流动，XRP领先于345万美元的流入。多资产基金也看到了适中的收益，流入了105万美元。根据Coinshares的报告，其他少量流入的山寨币包括“ Ondo，Algorand和Avalanche [分别为446万美元，205万美元和225万美元的雪崩。”

Despite maintaining positive year-to-date inflows of $545 million, Bitcoin’s massive weekly outflow has raised concerns about changing investor sentiment towards the cryptocurrency. The monthly trend shows Bitcoin losing $890 million over the past month while still having the largest assets under management at $112.96 billion.

尽管比特币的大量每周流出量保持了5.45亿美元的积极流入，但对改变加密货币的投资者情绪的担忧引起了人们的担忧。每月趋势显示，比特币在过去一个月中损失了8.9亿美元，而仍拥有最大的管理资产为1,129.6亿美元。

The outflows were heavily concentrated in the United States, which accounted for $763 million or 96% of the total weekly withdrawals. Other major markets experiencing outflows included Switzerland ($11.9 million), Hong Kong ($11.2 million), Sweden ($6.8 million), and Germany ($4.4 million).

流出集中在美国，占美国每周撤离总额的7.63亿美元或96％。经历流出的其他主要市场包括瑞士（1,190万美元），香港（1,120万美元），瑞典（680万美元）和德国（440万美元）。

A few markets managed to maintain positive flows despite the negative trend. Canada led with $2.1 million in inflows, followed by Brazil ($0.2 million) and Australia ($0.4 million).

尽管存在负面趋势，但一些市场还是设法保持积极流动。加拿大领先210万美元的流入，其次是巴西（120万美元）和澳大利亚（40万美元）。

The market context for these outflows was directly tied to recent policy developments. According to CoinShares, “recent tariff activity continues to weigh on sentiment towards the asset class.” However, a late-week development helped stabilize the market somewhat: “a late-week price rebound helped lift total assets under management (AuM) from their lowest point on April 8 (the lowest since early November 2024) to US$130bn.”

这些流出的市场环境与最近的政策发展直接相关。根据Coinshares的说法，“最近的关税活动仍在对资产类别的情感上。”但是，周末的发展有助于稳定市场：“深周的价格篮板有助于将正在管理的总资产（AUM）从4月8日的最低点（自2024年11月初）提高到1300亿美元。”

The U.S. market dominance is also reflected in the assets under management distribution, with U.S.-based funds holding $99.53 billion, or about 77% of the global total. The next largest markets by AUM are Canada ($4.8 billion), Switzerland ($4.58 billion), Germany ($4.5 billion), and Sweden ($2.62 billion).

美国市场的主导地位也反映在管理分销中的资产中，美国的资金持有995.3亿美元，约占全球总数的77％。 AUM的第二大市场是加拿大（48亿加元），瑞士（45.8亿美元），德国（45亿美元）和瑞典（26.2亿美元）。

Bitcoin leads with $545 million YTD inflows

比特币以5.45亿美元的YTD流入领先

Despite the substantial recent outflows, several digital assets maintain positive year-to-date inflows, according to the CoinShares data. Bitcoin leads with $545 million in YTD inflows, followed by Ethereum ($241 million), XRP ($176.35 million), Solana ($78.78 million), Cardano ($69.63 million), and Sui ($52.46 million).

根据Coinshares数据，尽管最近出现了大量流出，但几个数字资产仍保持积极的年底流入。比特币以5.45亿美元的YTD流入率领先，其次是以太坊（2.41亿美元），XRP（1.7635亿美元），Solana（7878万美元），Cardano（6963万美元）和SUI（5246万美元）。

The collective outflows since early February have nearly eliminated the year’s gains, with total YTD inflows now standing at just $165 million. This is a major reduction from peak inflow levels earlier in the year.

自2月初以来的集体流出几乎消除了今年的收益，总YTD流入量仅为1.65亿美元。这是今年早些时候的峰值流入水平的重大降低。

From a provider perspective, iShares ETFs/USA maintains the

从提供商的角度来看，Ishares ETFS/美国保持