Shock on Wall Street! The only losing product among the TOP 25 money-making ETFs: BlackRock's IBIT negative yield attracts $25.4 billion!

Bloomberg ETF analyst Eric Balchunas' latest data shows that among the TOP 25 money-making ETFs in the US stock market this year, BlackRock's IBIT Bitcoin spot ETF is the only losing product, with a year-to-date return of -9.59%, but its net inflow exceeds $25.4 billion, ranking sixth in the country, even surpassing the gold ETF with a year-to-date return of +64%.

This unusual phenomenon reveals that the core logic driving funds towards IBIT is not short-term returns, but rather institutions' strategic allocation towards the long-term narrative of crypto assets.

The ability to attract massive funds even in a bear market indicates a strong consensus in the market regarding Bitcoin's positioning as digital gold. Institutions are willing to bear the costs of short-term volatility in exchange for disruptive opportunities in future asset classes.

Current unrealized losses can be seen as a discount entry price from the perspective of long-term investors. Once a bull market starts, the incremental funds accumulated earlier will form strong support. The market's fluctuation period is a key window to observe the logic of capital games; it is essential to step out of the short-term rise and fall perspective and focus on the long-term value reassessment brought about by narrative changes.

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