美國比特幣 (BTC) 現貨 ETF 出現 120 多天內最大單日資金流入

最近比特幣 ETF 資金流入的激增是多種因素共同作用的結果，一些專家稱之為全面加密貨幣投資的「完美風暴」。

United States spot Bitcoin exchange-traded funds (ETFs) saw their highest single-day inflows in over 120 days on Oct. 14.

10 月 14 日，美國現貨比特幣交易所交易基金 (ETF) 出現 120 多天來的最高單日流入量。

With more than half a billion dollars pouring into the funds, Bitcoin’s ( BTC ) price topped $67,800 — its highest in more than three months at the time.

隨著超過 5 億美元湧入這些基金，比特幣 (BTC) 的價格突破了 67,800 美元，創下了當時三個多月以來的最高水平。

ETF Store president Nate Geraci called it a landmark day for spot BTC ETFs, noting that they were approaching $20 billion in net inflows over the previous 10 months.

ETF Store 總裁 Nate Geraci 稱這是現貨 BTC ETF 里程碑式的一天，並指出過去 10 個月的淨流入量接近 200 億美元。

“Simply ridiculous & blows away every pre-launch demand estimate. This is NOT ‘degen retail’ $$$ IMO. It’s advisors & institutional investors continuing to slowly adopt,” he wrote.

「簡直太荒謬了，超出了所有發布前的需求估計。在我看來，這不是「德根零售」。顧問和機構投資者繼續緩慢採用，」他寫道。

The Fidelity Wise Origin Bitcoin Fund led the fray with an inflow of $239.3 million, its highest since June 4. It was followed by the Bitwise Bitcoin ETF with over $100 million and BlackRock’s iShares Bitcoin Trust with $79.6 million.

Fidelity Wise Origin 比特幣基金以2.393 億美元的資金流入領跑，為6 月4 日以來的最高水準。美元。

Similarly, the Ark 21Shares Bitcoin ETF saw inflows of just under $70 million, while the Grayscale Bitcoin Trust recorded its first October inflow of $37.8 million, its highest since early May.

同樣，Ark 21Shares 比特幣 ETF 的資金流入略低於 7,000 萬美元，而 Grayscale 比特幣信託基金則錄得 10 月份首次資金流入 3,780 萬美元，為 5 月初以來的最高水準。

A confluence of factors is being attributed to the recent surge in Bitcoin ETF inflows, creating what some experts are calling a “perfect storm” for crypto investments across the board.

近期比特幣 ETF 資金流入激增是多種因素共同作用的結果，一些專家稱之為全面加密貨幣投資的「完美風暴」。

For instance, Chris Aruliah, head of institution for crypto exchange Bybit, pointed to the upcoming US election as a key driver, adding:

例如，加密貨幣交易所 Bybit 機構負責人 Chris Aruliah 指出即將到來的美國大選是關鍵驅動因素，並補充說：

“As we edge closer to the US election in November, investors may be more confident in placing their bets that we'll see the resumption of BTC's bull trend. Both sides in the US elections have been making positive statements towards crypto and there is anticipation of regulatory clarity.”

「隨著 11 月美國大選的臨近，投資者可能更有信心押注我們將看到 BTC 多頭趨勢的恢復。美國大選雙方都對加密貨幣做出了積極的聲明，並且預計監管會更加明確。

Alicia Kao, managing director for cryptocurrency exchange KuCoin, told Cointelegraph that growing macroeconomic optimism is another crucial factor driving this trend.

加密貨幣交易所 KuCoin 董事總經理 Alicia Kao 告訴 Cointelegraph，日益增長的宏觀經濟樂觀是推動這一趨勢的另一個關鍵因素。

In her view, economic data released by various US agencies has eased concerns about a potential recession, with the Federal Reserve already beginning to lower interest rates gradually.

她認為，美國各機構公佈的經濟數據緩解了人們對潛在衰退的擔憂，Fed已經開始逐步降息。

Daily Bitcoin ETF inflows on Oct. est. Source: CoinGlass

10 月每日比特幣 ETF 流入量來源：CoinGlass

Moreover, she noted that hedge fund participation in digital assets has been increasing steadily, fueled by enhanced regulatory clarity and the launch of spot crypto ETFs globally.

此外，她指出，在監管透明度提高和全球加密貨幣 ETF 現貨推出的推動下，對沖基金對數位資產的參與度一直在穩步增加。

“Nearly half (47%) of traditional hedge funds now have exposure to digital assets, up from 29% in 2023 and 37% in 2022. Furthermore, 67% of those hedge funds plan to maintain their current exposure in digital assets, while 33% intend to increase their digital asset investments by the end of 2024, indicating growing institutional confidence and contributing to significant inflows into Bitcoin ETFs,” Kao said.

「近一半(47%) 的傳統對沖基金現在擁有數位資產敞口，高於2023 年的29% 和2022 年的37%。此外，其中67% 的對沖基金計劃維持當前的數位資產敞口，而33% % 打算在 2024 年底之前增加數位資產投資，這表明機構信心不斷增強，並有助於大量資金流入比特幣 ETF。

While retail demand is a significant factor, the role of institutional investors in driving these record-breaking inflows cannot be overstated.

雖然零售需求是一個重要因素，但機構投資者在推動這些破紀錄的資金流入方面所發揮的作用怎麼強調也不為過。

Mithil Thakore, CEO and co-founder of Bitcoin trading protocol Velar, believes that institutions are in the driving seat and accounting for much of the BTC being scooped up through ETFs at present. He added:

比特幣交易協議 Velar 的執行長兼聯合創始人 Mithil Thakore 認為，機構處於主導地位，目前透過 ETF 買入的 BTC 大部分由機構主導。他補充說：

“Institutions continue to show interest in Bitcoin, with several large institutions, including banks, pension funds, and insurance companies, slowly adding BTC to their portfolios.”

「機構繼續對比特幣表現出興趣，包括銀行、退休基金和保險公司在內的幾家大型機構正在慢慢地將比特幣添加到他們的投資組合中。”

Similarly, Ben Caselin, chief market officer at VALR, believes that the recent surge in inflows to US spot Bitcoin ETFs can be attributed to Bitcoin's resilience in both low and high-interest environments.

同樣，VALR 首席市場長 Ben Caselin 認為，最近流入美國現貨比特幣 ETF 的激增可歸因於比特幣在低息和高息環境中的彈性。

Moreover, he believes institutional investors are increasingly gaining access to this space and thus driving inflows.

此外，他認為機構投資者越來越多地進入這一領域，從而推動資金流入。

“The participation of financial advisors, pension funds, etc has been crucial for Bitcoin to achieve new price highs and potentially surpass gold as a prominent asset class showcasing its decoupling from traditional markets,” Caselin said.

Caselin 表示：“金融顧問、退休基金等的參與對於比特幣實現新的價格高點至關重要，並有可能超越黃金，成為展示其與傳統市場脫鉤的重要資產類別。”

Kao said that institutional adoption of Bitcoin ETFs rose significantly by 27% during the second quarter of 2024, with 262 new firms entering the US spot Bitcoin ETF market.

Kao 表示，2024 年第二季度，比特幣 ETF 的機構採用率大幅上升 27%，有 262 家新公司進入美國現貨比特幣 ETF 市場。

She noted that by June 30, 2024, the total number of professional firms holding Bitcoin ETFs had reached over a thousand. Despite these striking numbers, Kao said that “retail investors remain the primary holders of Bitcoin ETFs. Institutional investors only manage 21.15% of the AUM, a modest increase from 18.7% in the first quarter of 2024."

她指出，截至2024年6月30日，持有比特幣ETF的專業公司總數已超過千家。儘管有這些驚人的數字，高說，「散戶仍然是比特幣 ETF 的主要持有者。機構投資者僅管理 21.15% 的 AUM，較 2024 年第一季的 18.7% 略有成長。

The success of Bitcoin ETFs, particularly when compared to traditional asset classes like gold, has been nothing short of remarkable. Bloomberg senior ETF analyst Eric Balchunas noted that since the January launch of BTC funds, the asset has hit an all-time high five times.

比特幣 ETF 的成功，尤其是與黃金等傳統資產類別相比，簡直令人矚目。彭博社高級 ETF 分析師 Eric Balchunas 指出，自 1 月推出 BTC 基金以來，該資產已五次創下歷史新高。

Source: Eric Balchunas

資料來源：埃里克·巴爾丘納斯

While gold has hit record highs 30 times this year, gold ETFs have only seen $1.4 billion in net inflows compared with more than $2

儘管今年金價已30次創出歷史新高，但黃金ETF的淨流入額僅為14億美元，而同期黃金ETF的淨流入額超過2美元