贸易商正在采用截然相反的交易所交易基金（ETF）策略

n（BTC）收回$ 90K，利用长期和风险的ETF策略蓬勃发展

Traders are flocking to both leveraged long and risk-off exchange-traded funds (ETFs) in a bid to navigate one of the most unpredictable financial markets in recent history, according to data from Bloomberg Intelligence.

根据彭博情报公司的数据，贸易商正在涌向利用长期和风险交易所交易的基金（ETF），以探索最近历史上最不可预测的金融市场之一。

The year-to-date has seen record inflows into ETFs that provide two to three times leveraged long exposure to volatile assets such as stocks and cryptocurrencies, as well as funds holding risk-off assets such as cash and gold, the data shows.

数据显示，年初至今已将创纪录的ETF流入到ETF中，这些ETF提供了两到三倍的利用，该资产长期暴露于股票和加密货币等波动性资产，以及持有现金和黄金等风险资产的资金。

“There's basically record flows going into leveraged long ETFs but also cash and gold ETFs as people buy the dip and hedge the dip at the same time. May the best degen win!” said Bloomberg Intelligence analyst Eric Balchunas in an April 23 post on the X platform.

“基本上有记录流入杠杆的长期ETF，但当人们购买蘸酱并同时对冲浸入时，现金和金ETF也有现金和黄金。也许最好的Degen获胜！”彭博情报分析师埃里克·巴尔库纳斯（Eric Balchunas）在X平台上的一篇文章中说。

In 2025, leveraged long ETFs attracted net inflows of roughly $6 billion, according to Bloomberg Intelligence. Meanwhile, inflows into cash and gold funds approached roughly $4 billion.

根据彭博情报局的数据，2025年，利用长期ETF吸引了大约60亿美元的净流入。同时，流入现金，黄金基金大约接近40亿美元。

The record fund flows come amid a spike in market turbulence after US President Donald Trump announced plans for sweeping tariffs on US imports on April 2.

在美国总统唐纳德·特朗普（Donald Trump）宣布计划在4月2日对美国进口商品征收关税的计划之后，唱片基金的流量激增了市场动荡。

Since then, the S&P 500, an index of large US stocks, has shed roughly 5% of its value, according to data from Google Finance.

从那以后，根据Google Finance的数据，S＆P 500是美国大型股票的指数大约5％的价值。

Bitcoin (BTC), meanwhile, has been comparatively resilient.

同时，比特币（BTC）相对弹性。

On April 22, the cryptocurrency’s spot price reclaimed $90,000 per coin for the first time in six weeks, with Bitcoin ETFs clocking nearly $1 billion in net inflows.

4月22日，加密货币的现货价格在六周内首次回收了每枚硬币90,000美元，比特币ETF的净流入量将近10亿美元。

The cryptocurrency trades above $93,000 as of April 23, according to data from Google Finance.

根据Google Finance的数据，截至4月23日，加密货币的交易价格超过93,000美元。

“Even in the wake of recent tariff announcements, BTC has shown some signs of resilience, holding steady or rebounding on days when traditional risk assets faltered,” Binance, the world’s largest cryptocurrency exchange, said in an April research report.

世界上最大的加密货币交易所Binance在4月份的一份研究报告中说：“即使在最近的关税公告之后，BTC也表现出了一些弹性的迹象，在传统风险资产步履蹒跚的日子里保持稳定或反弹。”

Bitcoin has often been referred to as “digital gold” but the cryptocurrency still has a weak correlation to the safe haven asset and trades more in line with equities, Binance said. Its correlation with gold has averaged around 0.12 over the past 90 days, versus 0.32 for equities.

Binance说，比特币通常被称为“数字黄金”，但加密货币仍然与避风港资产的相关性较弱，并且与股票的交易更加一致。在过去的90天中，它与黄金的相关性平均约为0.12，而股票的相关性为0.32。

“The key question is whether BTC can return to its long-term pattern of low correlation with equities,” noted the report, adding that gold is still a preferred safe-haven asset for most investors.

该报告指出：“关键问题是BTC是否可以恢复与股票低相关的长期模式。”该报告补充说，对于大多数投资者来说，黄金仍然是首选的避风势资产。