傳統和加密貨幣市場的風險胃口本週急劇上升

在5月21日，唐納德·特朗普（Donald Trump）確認俄羅斯與烏克蘭正在進行的停火談判之後的兩天，比特幣（BTC）超過了歷史最高的高潮

A new report from digital asset manager CoinShares has revealed that US-based crypto investment products managed to attract an impressive year-to-date total of over $7.5 billion in 2025.

數字資產經理Coinshares的一份新報告顯示，總部位於美國的加密投資產品在2025年吸引了令人印象深刻的年齡超過75億美元。

Breaking down the latest figures, CoinShares highlighted that the latest week saw a fifth round of net positive inflows into US crypto funds, highlighting a strong recovery in investor appetite for risk assets such as cryptocurrencies.

Coinshares分解了最新數據，強調了最新一周的淨積極流入為美國加密基金，這強調了投資者對加密貨幣等風險資產的胃口的強烈恢復。

The latest figures come as the White House announced a 90-day pause on additional tariffs, rolling back a 24% cut for both the US and China in May 12.

最新的數字是因為白宮宣布對額外的關稅進行90天的停頓，並在5月12日為美國和中國削減了24％的削減。

Coinbase exchange saw 9,739 Bitcoin withdrawn from the exchange, which is the highest net outflow recorded in 2025. According to Bitwise’s head of European research, André Dragosch, this signals that institutional appetite is accelerating.

Coinbase Exchange從交易所撤出了9,739個比特幣，這是2025年記錄的最高淨流出。根據Bitwise的歐洲研究負責人AndréDragosch的說法，這表明機構食慾正在加速。

After nearly $7 billion in outflows during February and March, driven by the banking crisis and the emerging threat of a US default, the US saw a net outflow of over $4 billion in the first quarter of 2025.

在2月和3月的近70億美元的流出率在銀行危機和新興的美國違約威脅的驅動下，美國在2025年第一季度的淨流出超過40億美元。

However, investor demand for risk assets staged a significant recovery in April and May, particularly following the announcement of a 90-day pause on additional tariffs.

但是，投資者對風險資產的需求在4月和5月上課，尤其是在宣布額外關稅的90天停頓之後。

The latest figures mark the fifth consecutive week of net positive flows into US-based crypto funds, continuing a trend that began in late March with a week of outflows, followed by a week of inflows, and then another week of outflows.

最新的數字標誌著連續第五週的淨積極流動到總部位於美國的加密貨幣基金，延續了3月下旬的趨勢，其中一周的流出，隨後是一周的流入，然後再流出了一周。

The United States accounted for the bulk of inflows, with $681 million, followed by Germany at $86.3 million and Hong Kong at $24.4 million.

美國的流入量為6.81億美元，其次是德國為8630萬美元，香港為2440萬美元。

Among individual cryptocurrencies, Bitcoin saw outflows for a second week, totaling $10 million, while Solana saw inflows of $3.3 million.

在個別的加密貨幣中，比特幣看到了第二週的流出，總計1000萬美元，而Solana的流出量為330萬美元。

Overall, the report indicates a shift in investor preference towards cryptocurrencies as a viable asset class, especially amid concerns over fiat currency devaluation and the search for yield in a low-interest-rate environment.

總體而言，該報告表明，投資者對加密貨幣作為可行資產類別的偏好轉變，尤其是在對菲亞特貨幣貶值的擔憂和在低利率環境中尋求收益的擔憂。