美国现货比特币ETF 4月暴跌，资金流入趋势逆转

现货比特币交易所交易基金（ETF）的流入出现逆转，4 月份是首个月净流出总额达 3.435 亿美元。所有 9 只现货比特币 ETF 均出现净流出，其中富达 (Fidelity) 的 FBTC 亏损 1.91 亿美元，打破了连续三个月资金流入的记录。这种情绪转变是在一段时期的热情减弱之后出现的，这可能表明现货比特币 ETF 的增长可能放缓。

Spot Bitcoin ETFs Witness Steep Declines in April, Breaking Three-Month Inflow Trend

4月份现货比特币ETF大幅下跌，打破三个月流入趋势

The United States spot Bitcoin Exchange-traded Fund (ETF) market has faced unprecedented headwinds in recent days, with April marking a significant downturn in investor sentiment.

美国现货比特币交易所交易基金（ETF）市场近几天面临前所未有的阻力，四月份标志着投资者情绪大幅下滑。

Massive Net Outflows Across the Board

全线大规模净流出

On Wednesday alone, all nine spot Bitcoin ETFs experienced substantial net outflows, totaling an alarming $563.7 million. Fidelity's FBTC suffered the most significant outflow, losing over $191 million. This outflow surpassed even Grayscale's GBTC, which has endured a persistent trend of outflows since spot Bitcoin ETFs commenced trading in the US.

仅周三，所有 9 只现货比特币 ETF 均出现大幅净流出，总额达到惊人的 5.637 亿美元。富达 (Fidelity) 的 FBTC 遭受了最严重的资金外流，损失超过 1.91 亿美元。这一流出量甚至超过了 Grayscale 的 GBTC，自现货比特币 ETF 在美国开始交易以来，GBTC 一直呈现持续的流出趋势。

Data from SoSo Value reveals that Grayscale registered $167.3 million in net outflows during this period. ARK 21Shares, which awaits a decision from the US Securities and Exchange Commission (SEC) on its Ethereum ETF application, saw its Bitcoin ETF endure $98.1 million in net outflows, ranking third.

SoSo Value 的数据显示，灰度在此期间录得 1.673 亿美元的净流出。 ARK 21Shares 正在等待美国证券交易委员会 (SEC) 就其以太坊 ETF 申请做出决定，其比特币 ETF 净流出 9810 万美元，排名第三。

Other notable outflows included BlackRock's IBIT ($36.9 million) and Bitwise's BITB ($29 million). Daily net outflows have become a recent trend for BlackRock, which had previously enjoyed a relatively strong performance.

其他值得注意的资金流出包括 BlackRock 的 IBIT（3690 万美元）和 Bitwise 的 BITB（2900 万美元）。对于此前表现相对强劲的贝莱德来说，每日净流出已成为近期趋势。

Hashdex's DEFI emerged as the only spot Bitcoin ETF to avoid daily outflows on Wednesday, but it also failed to attract any inflows.

Hashdex 的 DEFI 成为周三唯一一只避免每日资金流出的现货比特币 ETF，但它也未能吸引任何资金流入。

April Breaks Consecutive Inflow Streak

四月份打破连续流入记录

The significant outflows in April have reversed a three-month trend of consecutive inflows for spot Bitcoin ETFs. As of April 29th, the US spot BTC ETF market had experienced total outflows of $51.5 million. ARK 21Shares Bitcoin ETF bore the brunt of outflows on this day, losing $31.34 million.

4月份的大幅资金流出扭转了现货比特币ETF连续三个月流入的趋势。截至 4 月 29 日，美国现货 BTC ETF 市场总资金流出达 5150 万美元。 ARK 21Shares比特币ETF当天首当其冲遭受资金流出，损失3134万美元。

Despite these losses, Grayscale led the April outflows with approximately $2.5 billion exiting the GBTC ETF.

尽管出现这些损失，Grayscale 在 4 月份的资金流出中仍处于领先地位，退出 GBTC ETF 的资金约为 25 亿美元。

Diminished Optimism Dampens Inflow Projections

乐观情绪减弱抑制了流入预测

Earlier in March, JPM Securities expressed optimism about the future of spot Bitcoin ETF inflows, predicting a potential surge to $220 billion within three years. However, the current market sentiment casts doubt on the likelihood of such high inflows.

3 月初，摩根大通证券对比特币 ETF 现货流入的未来表示乐观，预计三年内可能激增至 2200 亿美元。然而，当前的市场情绪让人对如此高的资金流入可能性产生怀疑。

Time will tell whether market dynamics will improve and drive better performance for the spot Bitcoin ETF market. Nonetheless, the recent outflows have undoubtedly dampened the enthusiasm that surrounded the launch of these products.

时间会证明市场动态是否会改善并推动现货比特币 ETF 市场更好的表现。尽管如此，最近的资金外流无疑削弱了围绕这些产品推出的热情。