#美国11月降息预期对加密市场有何影响？ #币圈观察员 The data shows that in the past four years, among the 1,800 ETFs that started trading, the inflow of funds from BlackRock's iShares ETF ranked first. Bloomberg ETF analyst James Seyffart believes that the reason for the rapid influx of funds is partly because investors have wanted to invest in BTC for some time, but they did not have a safe or simple investment method before the ETF was approved. Now that the ETFs are trading, this demand is quickly entering the market. He said, 'I think this is partly pent-up demand, but as people learn more, this is also new demand. Traditional financial institutions are also interested in these products, including hedge funds involved in futures trading. This helps improve liquidity and demand.' He added that hedge funds have been going long on ETFs and then selling futures contracts. Meanwhile, the performance of Ethereum spot ETFs has been disappointing. Farside data shows that so far, 9 ETFs have accumulated a net outflow of $491.9 million. However, this does not mean that the demand will not rebound. Investors have put cash into other products, which may mean a turning point is coming. Seyffart added, 'It's just that the outflow of Grayscale ETHE overwhelms the inflow of other (Ethereum) ETFs, that's how it is currently.'