现货比特币ETF在市场波动中经历第三波资金流出

现货比特币 ETF 自 1 月份推出以来第三次出现净流出，从 4 月 8 日到 12 日，资产减少了 8300 万美元。此次流出恰逢比特币价格下跌 8%，这表明在强劲的上升趋势。

Spot Bitcoin ETFs Face Third Wave of Outflows Amidst Market Volatility

现货比特币ETF在市场波动中面临第三波资金流出

In a setback for the burgeoning spot Bitcoin exchange-traded fund (ETF) market, investors have pulled a net $83 million from these funds over the past week, marking the third time since their launch in January that such outflows have occurred. The withdrawals coincide with an 8% decline in Bitcoin prices, indicating a shift in investor sentiment.

新兴的现货比特币交易所交易基金 (ETF) 市场遭遇挫折，过去一周，投资者从这些基金中净撤资 8300 万美元，这是自 1 月份推出以来第三次出现此类资金外流。此次提款恰逢比特币价格下跌 8%，这表明投资者情绪发生了变化。

According to data from BitMEX Research, the 11-fund category saw a sharp reversal of fortune, having recorded net inflows of $485 million the previous week. The outflows were primarily driven by the Grayscale Bitcoin Trust ETF (GBTC), the only U.S. BTC fund that has consistently experienced redemptions, with $767 million exiting last week.

BitMEX Research 的数据显示，这 11 只基金类别的命运急剧逆转，上周录得 4.85 亿美元的净流入。资金流出主要是由灰度比特币信托 ETF (GBTC) 推动的，这是唯一一支持续经历赎回的美国 BTC 基金，上周流出了 7.67 亿美元。

Efforts by asset-gathering leaders such as BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Fund (FBTC) to counterbalance the GBTC's negative net flows proved insufficient, with these funds attracting only $487 million and $90 million, respectively.

贝莱德旗下的 iShares Bitcoin Trust (IBIT) 和 Fidelity Wise Origin Bitcoin Fund (FBTC) 等资产聚集领军企业为抵消 GBTC 负净流量所做的努力被证明是不够的，这些基金分别只吸引了 4.87 亿美元和 9000 万美元。

Prior to last week, the Bitcoin fund segment had only experienced two weeks of net outflows since its launch in January, losing $417 million in assets from January 22nd to 26th and $888 million from March 18th to 22nd. Conversely, the most significant net inflows in a week for the category peaked at $2.5 billion from March 11th to 15th.

上周之前，比特币基金板块自1月份推出以来仅经历了两周的净流出，1月22日至26日资产损失4.17亿美元，3月18日至22日资产损失8.88亿美元。相反，3 月 11 日至 15 日，该类别的一周最大净流入达到 25 亿美元的峰值。

Analysts attribute the recent ETF outflows to a combination of profit-taking and increased investor caution following a strong uptrend in Bitcoin prices over the past two quarters. The decline in prices over the past week further amplified these concerns.

分析师将近期 ETF 资金流出归因于过去两个季度比特币价格强劲上涨后，获利了结和投资者日益谨慎。过去一周的价格下跌进一步加剧了这些担忧。

Despite the net outflows, the open interest in Bitcoin futures contracts has increased by 2.6% to $33.1 billion alongside a 3% surge in Bitcoin prices in the past 24 hours. This indicates that the overall market sentiment remains bullish, tempered by the recent pullback.

尽管出现净流出，但比特币期货合约的未平仓合约仍增加了 2.6%，达到 331 亿美元，同时比特币价格在过去 24 小时内上涨了 3%。这表明整体市场情绪仍然看涨，但受到近期回调的影响。

Notably, Bitcoin liquidations in the past 24 hours have seen almost as many short liquidations ($118 million) as long liquidations ($126 million). This suggests that the market is increasingly confident in Bitcoin's long-term prospects, as evidenced by the dominance of short liquidations over long liquidations.

值得注意的是，过去 24 小时内的比特币清算中，空头清算（1.18 亿美元）几乎与多头清算（1.26 亿美元）一样多。这表明市场对比特币的长期前景越来越有信心，空头清算相对于多头清算的主导地位就证明了这一点。

The influence of Bitcoin as an institutional asset class will be a key topic of discussion at Benzinga's upcoming Future of Digital Assets event on November 19th. Industry leaders and experts will gather to explore the evolving role of cryptocurrencies in the financial landscape.

比特币作为一种机构资产类别的影响将成为 Benzinga 即将于 11 月 19 日举行的“数字资产的未来”活动中讨论的一个关键话题。行业领袖和专家将齐聚一堂，探讨加密货币在金融领域不断演变的作用。

The recent outflows from spot Bitcoin ETFs serve as a reminder of the volatility inherent in the cryptocurrency market. While investors remain bullish on Bitcoin's long-term potential, short-term fluctuations can trigger risk aversion and profit-taking. As the market matures and institutional adoption increases, such outflows may become less frequent and less pronounced.

最近现货比特币 ETF 的资金流出提醒人们注意加密货币市场固有的波动性。尽管投资者仍然看好比特币的长期潜力，但短期波动可能会引发避险情绪和获利了结。随着市场的成熟和机构采用的增加，这种资金外流可能会变得不那么频繁和不那么明显。