Kirsten Longbottom

research analyst for EPFR

[Phyrex @PhyrexNi]

加密货币基金的赎回正在退潮，但增量资金还没有完全恢复

EPFR 的数据显示，全球加密货币基金最新一周净流入大约 15 亿美元，是今年以来资金回流力度比较强的一周。

前几个月的情况完全相反。5 月到 7 月，加密货币基金连续遭遇大额赎回，过去 12 个月累计资金流也从 4 月约 60 亿美元的净流入，快速跌到 6 月约 30 亿美元的净流出。

最近几周资金重新回流，累计净流出已经基本被填平。基金端此前持续赎回、被动减仓和出售加密资产的压力，已经比两个月前明显减轻。

但目前过去 12 个月的累计资金流仍然只是在零附近，按照资产管理规模计算的资金流比例同样接近零。因此，最新流入的 15 亿美元主要是在修复前几个月留下的缺口，还没有形成规模很大的新增买盘。

这对于加密市场，尤其是 bitcoin:native 仍然是较为利好的。前几个月基金资金一直在拖累市场，现在卖压已经逐步退潮。接下来如果能够连续几周保持净流入，那么投资者基金很可能就从抛售转向成买入。

但如果后续资金很快再次转负，这一周的 15 亿美元可能只是低位补仓、仓位再平衡或者一次性申购，毕竟之前我就说过很多次，明显能看到 Bitcoin 在 60,000 美元附近的时候有大量的买盘，而快速上升至接近 80,000 美元以后还要重新观察。

另外 EPFR 统计的是全球加密货币基金，整体资金量是大于美国 Bitcoin 现货 ETF 的。

@Gate Crypto、美股、港股、韩股、黄金、CFD、预测市场一站交易

[Diario฿itcoin @DiarioBitcoin]

📊 Tecnología domina los flujos

Fondos tecnológicos captaron USD 195.000 millones en 12 meses, según EPFR y Bank of America.

En 2026 suman USD 131.000 millones, frente a USD 81.000 millones en 2025.

Los ETF tecnológicos captaron el 78% de los flujos sectoriales en junio.

[CNBC-TV18 @CNBCTV18News]

#GlobalOpinion | EPFR Global’s Cameron Brandt To @CNBCTV18News

- Consistent inflows are seen in more diversified emerging markets
- India remains in a tough spot due to persistent geopolitical concerns
- Some modest evidence of a pullback is emerging in Japan

#Watch:https://t.co/2wQKQz1DK3

@Reematendulkar @blitzkreigm @Nigel__Dsouza #CNBCTV18Market

[EPFR | Fund Flows & Allocations Data @EPFR]

𝗖𝗼𝗺𝗺𝗼𝗱𝗶𝘁𝗶𝗲𝘀 𝗦𝗲𝗰𝘁𝗼𝗿 𝗙𝘂𝗻𝗱𝘀 were also posting an outflow, with redemptions hitting a nine-week high. Funds with agricultural commodity mandates posted their biggest outflow since the second week of April. Dedicated 𝗠𝗶𝗻𝗶𝗻𝗴 𝗙𝘂𝗻𝗱𝘀 recorded their fifth consecutive inflow but, despite the strong appetite for exposure to physical gold, the five funds recording the biggest outflows for the week all had gold mandates.

[EPFR | Fund Flows & Allocations Data @EPFR]

𝐄𝐌 𝐁𝐨𝐧𝐝 𝐅𝐮𝐧𝐝𝐬 drew $2B+, with local funds taking 2x hard currency inflows. 𝐆𝐄𝐌 𝐅𝐮𝐧𝐝𝐬 led, as managers shifted from Asia to energy markets.

For more on 𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 𝐁𝐨𝐧𝐝 𝐅𝐮𝐧𝐝𝐬, read our Global Navigator: https://t.co/4J52xWjOz8

[EPFR | Fund Flows & Allocations Data @EPFR]

Investors took profits in energy/commodities, cut leverage & digital assets, and rebuilt cash buffers.

Money Market Funds saw a 4th straight inflow ($21.9bn); Alternatives posted their 6th outflow this year.

For more, read our Global Navigator: https://t.co/yyi8XCoVvJ

[EPFR | Fund Flows & Allocations Data @EPFR]

S&P 500 kicked off May above 7,000, with US Equity Fund inflows positive in 7 of the last 8 weeks. Investors are shifting into inverse strategies while pulling back from leveraged long exposure.

For more fund flow insights, read our Global Navigator: https://t.co/zVwjs05cHO

[Kirsten Longbottom @Longbottom_K]

In the week to Sep 3 @EPFR’s Global Navigator highlights:
▪️Tech +$4.3 bn
▪️Commodities +$2.3 bn… a record-setting inflow, directed by Gold Mining and Chemical Funds
▪️Interest rate sensitive groups post outflows: Energy, Real Estate and Utilities Sector Funds

[Thomas Fahrer @thomas_fahrer]

Nvidia vs #Bitcoin vs Gold 🤑

[Charlie Bilello @charliebilello]

Global Central Bank Update:
-Denmark cut rates for the first time since 2021, 25 bps decrease to 3.35%.

https://t.co/l5IYmkf6Ih

[EPFR | Fund Flows & Allocations Data @EPFR]

Cameron Brandt appeared on @CNBCTV18Live & discussed how the inflows into #India dedicated funds are the highest since Q1 of 2015. Cameron highlights how India is being currently seen as a very credible alternative to #China exposure. https://t.co/7WkRjeSfEj

[EPFR | Fund Flows & Allocations Data @EPFR]

According to EPFR #data, US #Equity Funds have suffered around $31 billion in net outflows this year while global stock funds have attracted about $13 billion. But enthusiasm for the #US's economic story is on the rise. Read @hardikasingh28's @WSJ article: https://t.co/p8eDU5j3Wl