投資者關注監管，比特幣（BTC）等待川普的監管

比特幣和加密資產在價格大幅上漲後在投資者投資組合中很受歡迎。今年，比特幣創下了兩個歷史新高

Bitcoin and crypto assets have seen increasing popularity among investors following the recent price surge and record highs. This year, Bitcoin has set two new all-time highs, following the approval of spot ETFs in January and Donald Trump's victory in the U.S. presidential election.

在近期價格飆升並創下歷史新高之後，比特幣和加密資產越來越受到投資者的歡迎。繼1月現貨ETF獲得批准以及唐納德·川普在美國總統大選中獲勝之後，今年比特幣創下了兩個歷史新高。

Bullish price highs and institutional inflows have driven retail adoption, turning attention to a key issue.

看漲的價格高點和機構資金流入推動了散戶的採用，將注意力轉向了一個關鍵問題。

Investors’ Gaze Turns to Regulation

投資人的目光轉向監管

A new institutional survey by CoinShares shows that regulation is a major factor limiting a larger influx of investors. The survey included participants covering a total of around $900 billion in assets under management (AUM). According to the report, concerns over the United States' leanings have held back some in the space.

CoinShares 的一項新機構調查顯示，監管是限制投資者大量湧入的主要因素。該調查涵蓋的參與者管理資產總額 (AUM) 約為 9,000 億美元。報告稱，對美國傾向的擔憂阻礙了該領域的一些發展。

Over 30% of participants said that regulation prevents them from investing more, while 19% cited frequent market volatility. Other factors included corporate restrictions, reputational risk, and custody. Many of these factors, as the report suggests, could be addressed following a Trump victory.

超過 30% 的參與者表示，監管阻礙了他們進行更多投資，而 19% 的參與者則表示市場波動頻繁。其他因素包括公司限制、聲譽風險和託管。正如報告所暗示的，其中許多因素可以在川普獲勝後解決。

This analysis from wealth managers comes despite the approval of spot Bitcoin ETFs in January, which brought an additional layer of legitimacy to the asset class. Now, following the election, regulation has taken center stage, with market participants hoping to shift the narrative.

儘管現貨比特幣 ETF 在 1 月獲得批准，為該資產類別增添了一層額外的合法性，但財富管理機構還是做出了上述分析。現在，選舉之後，監管已成為焦點，市場參與者希望改變這種說法。

“For those investors who already have invested, regulation and political concerns remain stubbornly at the top of investor concerns despite the significant strides made in regulatory approval of Bitcoin and Ethereum ETPs,” CoinShares wrote. “Investors seem much less concerned with protocol design and hash power concentration.”

CoinShares 寫道：“對於那些已經投資的投資者來說，儘管監管部門對比特幣和以太坊 ETP 的批准取得了重大進展，但監管和政治問題仍然是投資者最關心的問題。” “投資者似乎不太關心協議設計和算力集中度。”

Markets Await Trump’s Crypto Regulations

市場等待川普的加密貨幣法規

In the lead-up to the election, former U.S. President Donald Trump touched on key issues, including Bitcoin regulation and the administration's approach to the asset. At the 2024 Bitcoin Conference, Trump hinted at a strategic reserve, pledging to end the government's war on Bitcoin.

在選舉前夕，美國前總統唐納德·川普談到了關鍵問題，包括比特幣監管和政府對該資產的態度。在 2024 年比特幣大會上，川普暗示要建立戰略儲備，承諾結束政府對比特幣的戰爭。

The current administration has been largely hostile to the market, with regulators filing several lawsuits against crypto firms. This dampened market sentiment and bullish continuation on price charts.

現任政府基本上對市場抱有敵意，監管機構對加密貨幣公司提起了幾起訴訟。這抑制了市場情緒和價格圖表上的看漲持續。

However, market experts have tipped a Republican victory to usher in a range of pro-crypto regulations, covering asset listings, custody, and taxation. The Markets in Crypto Assets (MiCA) regulation was a landmark legislation in the EU, and pro-market observers are hoping for a similar law in the United States.

然而，市場專家預計共和黨的勝利將帶來一系列支持加密貨幣的監管，包括資產上市、託管和稅收。加密資產市場（MiCA）監管是歐盟的一項里程碑式立法，支持市場的觀察家希望美國也能推出類似的法律。

The survey also highlighted Bitcoin's increasing popularity within the ecosystem, which is attracting new users. While price surges contribute to this, macro factors like inflation have also pushed BTC to new all-time highs.

該調查還強調了比特幣在生態系統中越來越受歡迎，這正在吸引新用戶。雖然價格飆升促成了這一點，但通膨等宏觀因素也將比特幣推至歷史新高。