财富管理公司在市场活力中加大比特币 ETF 投资

Bitwise 首席执行官 Hunter Horsley 表示，由于最近比特币减半后对加密货币投资的需求不断增加，预计美国的财富管理公司将增加对比特币交易所交易基金 (ETF) 的投资。最近比特币 ETF 的资金流入以及贝莱德 iShares 比特币信托 (IBIT) 的稳定增长证明了这一趋势，该信托正在缩小与灰度 (Grayscale) 比特币信托 (GBTC) 的差距。

Wealth Management Firms Embolden Bitcoin ETF Investments Amidst Heightened Demand and Market Dynamics

在需求增加和市场动态增加的情况下，财富管理公司加大了比特币 ETF 投资力度

Hunter Horsley, CEO of Bitwise, has forecasted a surge in the acquisition of Bitcoin exchange-traded funds (ETFs) by United States wealth management firms. This projection aligns with the anticipated upswing in Bitcoin ETF acceptance spurred by the recent halving event.

Bitwise 首席执行官 Hunter Horsley 预测，美国财富管理公司对比特币交易所交易基金 (ETF) 的收购将会激增。这一预测与近期减半事件刺激的比特币 ETF 接受度预期上升相一致。

Industry experts concur with Horsley's prediction, noting a growing appetite for ETFs. Notably, Bitcoin investments within US exchange-traded funds experienced a positive inflow prior to the halving, reversing a five-day decline.

行业专家同意霍斯利的预测，并指出对 ETF 的需求不断增长。值得注意的是，美国交易所交易基金内的比特币投资在减半之前出现了正流入，扭转了连续五天的跌势。

BlackRock's iShares Bitcoin Trust (IBIT) is swiftly approaching Grayscale's dominant position in the market, with a mere $2 billion separating the two. This strategic move could potentially position BlackRock as the world's largest Bitcoin fund, eclipsing Grayscale.

贝莱德 (BlackRock) 的 iShares 比特币信托 (IBIT) 正在迅速接近灰度 (Grayscale) 在市场上的主导地位，两者差距仅 20 亿美元。这一战略举措可能使贝莱德超越灰度成为全球最大的比特币基金。

In contrast, Grayscale's Bitcoin Trust (GBTC) has endured a 68-day depreciation, shedding over $16 billion and reducing its assets to $19.4 billion. Simultaneously, IBIT has witnessed consistent asset growth, accumulating approximately $17.3 billion.

相比之下，Grayscale 的比特币信托基金 (GBTC) 经历了 68 天的贬值，损失超过 160 亿美元，资产减少至 194 亿美元。与此同时，IBIT 的资产持续增长，累计约 173 亿美元。

Grayscale's spot Bitcoin ETF has faced substantial capital outflows, with investors withdrawing $89.9 million in the past five days alone. This exodus brings the total outflow since January to $1.6 billion.

Grayscale 的现货比特币 ETF 面临大量资金外流，仅过去五天，投资者就撤回了 8990 万美元。此次资金外流使 1 月份以来的资金外流总额达到 16 亿美元。

Despite its initial dominance, Grayscale's grip on the Bitcoin ETF market appears to be waning. Fidelity and BlackRock swiftly gained significant market share upon their entry into the sphere. In the same week, their respective Bitcoin ETFs garnered net inflows of $37.3 million and $18.7 million, alleviating liquidity concerns in the market.

尽管最初占据主导地位，但灰度对比特币 ETF 市场的控制似乎正在减弱。富达和贝莱德进入该领域后迅速获得了巨大的市场份额。同一周，各自的比特币 ETF 分别获得 3730 万美元和 1870 万美元的净流入，缓解了市场的流动性担忧。

Horsley emphasizes the "stealthy but significant" adoption of Bitcoin ETFs by registered investment advisers (RIAs) and multifamily offices. He observes that major financial institutions are discreetly scrutinizing the Bitcoin market for potential opportunities.

Horsley 强调，注册投资顾问 (RIA) 和联合家族办公室“秘密但重要”地采用了比特币 ETF。他观察到主要金融机构正在谨慎地审查比特币市场以寻找潜在机会。

GBTC Outflows Moderate Amidst Market Adjustments and Regulatory Developments

在市场调整和监管发展的背景下，GBTC 资金流出温和

According to Farside data, GBTC experienced withdrawals of $17.5 million on April 10, a notable reduction compared to the $154.9 million outflow recorded on April 9. The previous low was $22.4 million on February 26. Since January, the average daily GBTC outflow has been $257.8 million.

Farside 数据显示，4 月 10 日 GBTC 提现额为 1750 万美元，较 4 月 9 日记录的 1.549 亿美元流出量显着减少。此前的低点为 2 月 26 日的 2240 万美元。自 1 月以来，GBTC 日均流出量为 257.8 美元百万。

Established in 2015, GBTC transitioned into an ETF in January. This conversion followed Grayscale's successful lawsuit against the United States Securities and Exchange Commission (SEC), compelling the agency to reconsider their denial of GBTC's conversion application.

GBTC 成立于 2015 年，1 月份转型为 ETF。此次转换是在 Grayscale 对美国证券交易委员会 (SEC) 提起成功诉讼之后进行的，迫使该机构重新考虑是否拒绝 GBTC 的转换申请。

It is noteworthy that Genesis, a defunct cryptocurrency lending company, liquidated approximately 36 million GBTC shares to acquire 32,041 Bitcoin.

值得注意的是，已倒闭的加密货币借贷公司 Genesis 清算了约 3600 万股 GBTC 股票，收购了 32,041 枚比特币。

Conclusion

结论

The surge in Bitcoin ETF investments by wealth management firms underscores the growing demand for cryptocurrency assets and the shift in market dynamics. As Bitcoin continues to gain recognition and institutional adoption, investors are seeking diversified exposure through exchange-traded funds.

财富管理公司比特币 ETF 投资的激增凸显了对加密货币资产的需求不断增长以及市场动态的转变。随着比特币不断获得认可和机构采用，投资者正在通过交易所交易基金寻求多元化投资。

The competition between BlackRock and Grayscale for market dominance will likely intensify, potentially resulting in more investment options and lower fees for investors. Moreover, the regulatory landscape for Bitcoin ETFs is evolving, with the SEC expected to approve spot Bitcoin ETFs in the near future.

贝莱德和灰度之间争夺市场主导地位的竞争可能会加剧，这可能会为投资者带来更多的投资选择和更低的费用。此外，比特币 ETF 的监管环境正在不断变化，美国证券交易委员会 (SEC) 预计将在不久的将来批准现货比特币 ETF。

These developments indicate a maturing Bitcoin market, attracting institutional capital and paving the way for broader acceptance of cryptocurrency investments.

这些发展表明比特币市场日趋成熟，吸引了机构资本，并为更广泛地接受加密货币投资铺平了道路。