灰階比特幣信託基金隨著顯著資金流入而上升

灰階比特幣信託基金（GBTC）自 1 月以來首次報告淨流入，標誌著其在美國現貨比特幣 ETF 獲批後經歷的資金流出情況出現逆轉。隨著新產品和專用 ETF Flow 儀表板的推出，香港市場的比特幣 ETF 也出現了成長。雖然與美國相比，香港市場仍然相對較小，但正在快速成長並吸引大量本地需求。

Grayscale Bitcoin Trust Rebounds with Significant Inflows

灰階比特幣信託反彈，資金大量流入

New York City, May 5, 2023 - Grayscale Bitcoin Trust (GBTC), the preeminent cryptocurrency investment vehicle globally, has garnered a notable influx of investor funds, marking a significant shift in market sentiment following the January approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.

紐約市，2023 年5 月5 日- 全球卓越的加密貨幣投資工具灰度比特幣信託(GBTC) 吸引了大量投資者資金湧入，標誌著繼1 月份現貨比特幣交易所交易基金獲得批准後市場情緒發生重大轉變（ETF）在美國。

According to data meticulously compiled by Bloomberg, Grayscale's Bitcoin Trust received an impressive $63 million in net inflows on May 3. This surge effectively reverses the substantial net outflows approximating $17.4 billion experienced by the trust since its conversion.

根據彭博社精心編制的數據，灰階的比特幣信託基金在5 月3 日收到了令人印象深刻的6,300 萬美元淨流入。的大幅淨流出。

The outflows endured in the past can be partially attributed to the tumultuous bankruptcies that have plagued the crypto industry. Defunct companies resorted to withdrawing funds from the trust to facilitate creditor repayments.

過去經歷的資金外流可部分歸因於困擾加密產業的混亂破產。倒閉的公司訴諸從信託中提取資金來促進債權人還款。

Grayscale's longstanding dominance as the most significant spot Bitcoin ETF in terms of assets under management (AUM) now faces a formidable challenge from BlackRock's iShares Bitcoin Trust (IBIT), which commands a staggering $16.91 billion in AUM.

Grayscale 作為管理資產(AUM) 方面最重要的現貨比特幣ETF 的長期主導地位，現在面臨著貝萊德(BlackRock) 旗下iShares 比特幣信託(IBIT) 的巨大挑戰，後者管理資產規模高達169.1 億美元。

In response to this evolving competitive landscape, Grayscale unveiled plans in March to seek approval from the Securities and Exchange Commission (SEC) for the spin-off of a portion of its assets into a novel, lower-fee Bitcoin Mini Trust. The specific fee structure for the Mini Trust remains to be determined.

為了應對這種不斷變化的競爭格局，Grayscale 在 3 月公佈了計劃，尋求美國證券交易委員會 (SEC) 的批准，將其部分資產分拆為一種新穎的、費用較低的比特幣迷你信託。迷你信託的具體費用結構仍有待確定。

Hong Kong Market Demonstrates Robust Growth in Bitcoin ETF Landscape

香港市場顯示比特幣 ETF 格局強勁成長

Hong Kong has also witnessed significant advancements in the Bitcoin ETF space, notwithstanding its smaller market scale compared to the United States. The launch of Bitcoin and Ethereum ETFs in Hong Kong garnered considerable attention, prompting the establishment of a dedicated HK ETF Flow dashboard to cater to growing demand.

儘管與美國相比，香港的市場規模較小，但比特幣 ETF 領域也取得了顯著進展。比特幣和以太坊 ETF 在香港的推出引起了廣泛關注，促使建立了專門的香港 ETF 流量儀表板來滿足不斷增長的需求。

"The HK ETFs, with approximately $310 million in assets, are equivalent to $50 billion in the US market," observed Eric Balchunas, an ETF expert at Bloomberg. "In this regard, these ETFs are already as significant in their local market as the US ones are in theirs."

彭博 ETF 專家 Eric Balchunas 表示：“香港 ETF 的資產約為 3.1 億美元，相當於美國市場的 500 億美元。” “在這方面，這些 ETF 在當地市場的重要性已經與美國市場的 ETF 一樣重要。”

Bitcoin Market Remains Volatile Amidst Bullish Sentiment

比特幣市場在看漲情緒中保持波動

As of the time of writing, Bitcoin, the foremost cryptocurrency, is valued at $63,300 per coin, indicating a modest 1.4% decline over the preceding 24 hours. This price adjustment emerged after Bitcoin's unsuccessful attempt to establish a stable position above the $65,000 threshold during the initial hours of Monday's trading session.

截至撰寫本文時，最重要的加密貨幣比特幣的價格為每枚 63,300 美元，表明在過去 24 小時內小幅下跌 1.4%。這項價格調整是在周一交易時段的最初幾個小時內，比特幣試圖在 65,000 美元的門檻之上建立穩定位置但失敗後出現的。

"It is important to note that outflows and inflows are inherent to the ETF market," Balchunas emphasized. "However, the track record of ETFs suggests that they generally experience net growth and demonstrate resilient investor sentiment."

Balchunas 強調說：“值得注意的是，資金流出和流入是 ETF 市場固有的。” “然而，ETF 的業績記錄表明，它們通常會實現淨增長，並表現出有彈性的投資者情緒。”

The resurgence of Grayscale Bitcoin Trust and the emerging prominence of Bitcoin ETFs in Hong Kong signal a growing embrace of cryptocurrencies by institutional investors. While market volatility remains a prevalent factor, the long-term outlook for Bitcoin and the broader crypto asset class appears cautiously optimistic.

灰階比特幣信託基金的復甦以及比特幣 ETF 在香港的崛起表明機構投資者越來越多地接受加密貨幣。儘管市場波動仍然是一個普遍因素，但比特幣和更廣泛的加密資產類別的長期前景似乎謹慎樂觀。