Arus Keluar ETF Bitcoin & Ethereum Terus Berlanjut: Arus Bersih Bulanan Tetap Merah

bitcoinist2025-12-31 tarihinde yayınlandı2025-12-31 tarihinde güncellendi

Özet

Aliran keluar ETF Bitcoin dan Ethereum terus berlanjut, dengan arus bersih 30 hari tetap negatif sebesar -$656 juta untuk BTC dan -$422 juta untuk ETH. Data menunjukkan modal terus mengalir keluar dari aset digital ini, mencerminkan permintaan yang lemah di pasar yang mirip dengan fase awal 2025. Meskipun situasi sedikit membaik, indikator masih berwarna merah. Permintaan dari dana ETF ini, yang populer di kalangan investor tradisional, sebelumnya pernah pulih secara eksplosif dan mendorong kenaikan harga tajam. Kini, belum jelas apakah pemulihan serupa akan terulang. Di sisi lain, aset digital di treasury (penyimpanan kas) perusahaan dan pemerintah telah melampaui $185 miliar, menunjukkan minat institusional yang tetap kuat. Sementara itu, harga Bitcoin berkisar di $88.100 dan tampak terkonsolidasi.

Data menunjukkan arus bersih ETF 30 hari masih negatif untuk Bitcoin dan Ethereum, menunjukkan bahwa modal telah mengalir keluar dari aset digital.

Arus Bersih ETF Bitcoin & Ethereum Telah Negatif Belakangan Ini

Seperti dijelaskan oleh analis komunitas CryptoQuant Maartunn dalam posting baru di X, reksa dana ETF spot Bitcoin dan Ethereum telah menghadapi arus bersih negatif selama sebulan terakhir.

ETF spot adalah kendaraan investasi yang memungkinkan investor mendapatkan eksposur tidak langsung terhadap pergerakan harga aset dasar. Dalam konteks cryptocurrency, ini berarti bahwa investor ETF tidak perlu berinteraksi di on-chain; dana membeli dan menyimpan token atas nama mereka.

ETF spot AS adalah fenomena yang relatif baru di sektor aset digital, hanya mendapatkan persetujuan dari Securities and Exchange Commission (SEC) pada Januari 2024 untuk Bitcoin dan Juli 2024 untuk Ethereum.

ETF spot dapat terlihat seperti mode investasi yang nyaman bagi trader yang tidak familiar dengan dompet dan bursa cryptocurrency. Entitas institusional, khususnya, lebih memilih untuk mendapatkan eksposur melalui mereka.

Sejak kedatangan mereka, kendaraan investasi ini dengan cepat mendapatkan popularitas dengan memanfaatkan permintaan dari investor tradisional dan membuktikan diri sebagai salah satu pilar utama sektor ini.

Di bawah ini adalah bagan yang menunjukkan bagaimana arus bersih 30 hari terkait ETF spot Bitcoin dan Ethereum berubah selama keberadaan mereka sejauh ini.

Sepertinya nilai metrik telah negatif untuk kedua aset ini dalam beberapa pekan terakhir | Sumber: @JA_Maartun di X

Seperti terlihat dalam grafik, arus bersih ETF spot 30 hari telah negatif untuk Bitcoin dan Ethereum sejak beberapa waktu lalu, menunjukkan bahwa dana telah menyaksikan arus keluar bersih yang berkelanjutan.

Situasi sedikit membaik baru-baru ini, tetapi indikator masih merah untuk kedua aset, berada di -$656 juta untuk BTC dan -$422 juta untuk ETH. Permintaan yang lemah di pasar mirip dengan fase arus keluar dari paruh pertama 2025.

Kala itu, permintaan akhirnya kembali secara eksplosif, dengan Bitcoin dan Ethereum menyaksikan kenaikan harga yang tajam. Kini tinggal menunggu apakah comeback akan terjadi kali ini atau jika perlambatan permintaan akan bertahan untuk sementara waktu.

Sumber permintaan lain yang relatif baru di pasar adalah treasury aset digital. Seperti disorot oleh penyedia solusi DeFi institusional Sentora dalam posting X baru, kepemilikan treasury cryptocurrency kini melebihi $185 miliar di 368 entitas.

Rincian treasury di berbagai sektor | Sumber: Sentora di X

Dari jumlah ini, 73% treasury aset digital dikendalikan oleh perusahaan, sementara sisanya berada di tangan pemerintah.

Harga BTC

Pada saat penulisan, Bitcoin diperdagangkan sekitar $88.100, tidak berubah dari pekan lalu.

Harga koin sepertinya telah berkonsolidasi baru-baru ini | Sumber: BTCUSDT di TradingView

İlgili Sorular

QApa yang ditunjukkan oleh data aliran bersih ETF Bitcoin dan Ethereum selama 30 hari terakhir?

AData menunjukkan aliran bersih ETF 30 hari masih negatif untuk Bitcoin dan Ethereum, dengan nilai -$656 juta untuk BTC dan -$422 juta untuk ETH, yang mengindikasikan modal terus mengalir keluar dari aset digital tersebut.

QMengapa ETF spot dianggap sebagai cara investasi yang nyaman bagi beberapa investor?

AETF spot memungkinkan investor mendapatkan eksposur tidak langsung terhadap pergerakan harga aset kripto tanpa harus berinteraksi langsung dengan dompet atau pertukaran on-chain, sehingga sangat disukai terutama oleh investor institusional yang kurang familiar dengan teknologi blockchain.

QKapan ETF spot Bitcoin dan Ethereum mendapatkan persetujuan dari SEC?

AETF spot Bitcoin disetujui oleh Securities and Exchange Commission (SEC) pada Januari 2024, sedangkan ETF spot Ethereum mendapatkan persetujuan pada Juli 2024.

QApa kesamaan kondisi aliran keluar ETF saat ini dengan periode sebelumnya di tahun 2025?

AKondisi lemahnya permintaan pasar saat ini mirip dengan fase aliran keluar yang terjadi pada paruh pertama tahun 2025, dimana saat itu permintaan akhirnya kembali secara eksplosif diikuti kenaikan harga yang signifikan.

QBerapa total nilai treasury aset digital yang dipegang oleh entitas perusahaan dan pemerintah menurut data terbaru?

AMenurut Sentora, total treasury aset digital sekarang melebihi $185 miliar yang dipegang oleh 368 entitas, dengan 73% dikendalikan oleh perusahaan dan sisanya oleh pemerintah.

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