比特幣（BTC）斑點ETF驅動直接加密暴露的機構需求

比特幣現場ETF與比特幣的價格行動的成功促使投資者需要直接訪問或從其服務提供商那裡獲得加密貨幣。

The success of bitcoin spot ETFs combined with bitcoin’s price action have driven investors to demand direct access or exposure to crypto from their service providers. Institutional investors and traditional financial services providers now have a responsibility to at the minimum learn about crypto, if not actively look into adoption.

比特幣現場ETF與比特幣的價格行動的成功促使投資者需要直接訪問或從其服務提供商那裡獲得加密貨幣。機構投資者和傳統金融服務提供商現在有責任最少了解加密貨幣，即使不是積極考慮採用。

The spotlight now is increasingly on the wealth advisory segment, with BlackRock’s Head of Digital Assets recently telling Bloomberg that the asset manager is starting to see more wealth advisory activity in crypto. At Binance, our VIP & institutional business has likewise received increased interest from high-net-worth individuals and their wealth managers, who have told us they are taking a medium to long-term view as they look to incorporate crypto into their portfolios.

現在，關注的焦點越來越在財富諮詢部門上，貝萊德（Blackrock）的數字資產負責人最近告訴彭博社，資產經理開始在加密貨幣（Crypto）看到更多的財富諮詢活動。在Binance時，我們的VIP和機構業務也同樣受到了高淨值個人及其財富管理人員的興趣，他們告訴我們，他們希望將加密貨幣納入其投資組合中，他們正在長期觀察中。

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While the cryptocurrency industry has experienced tremendous growth, the vast majority of institutional capital, of which the private wealth segment makes up a significant portion, has yet to enter the space. There are several reasons why including a lack of understanding of the technology, regulatory uncertainty and concerns about volatility. Above all, private wealth is a traditional segment with its own nuances and high-touch requirements, while crypto can demand a good amount of heavy lifting with respect to due diligence, given the sector’s nascency.

儘管加密貨幣行業經歷了巨大的增長，但絕大多數機構資本（其中私人財富部分都佔很大一部分）尚未進入該空間。有幾個原因是為什麼缺乏對技術的了解，監管不確定性和對波動性的擔憂。最重要的是，私人財富是一個具有自己的細微差別和高觸摸要求的傳統細分市場，而加密貨幣則可以在盡職調查的情況下進行大量繁重的舉重。

High-touch requirements and the DYOR ethos

高點要求和染料精神

Crypto is the first asset class to be developed by a distributed community and one that’s made us rethink our financial systems. Traditional market participants have increasingly bought into bitcoin because they recognize the impact of crypto and how its core ideas of trustlessness, transparency and proof-of-reserves have the potential for new efficiencies and value.

加密是第一個由分佈式社區開發的資產類，也是使我們重新考慮金融系統的資產類別。傳統的市場參與者越來越多地購買比特幣，因為他們認識到加密貨幣的影響以及其無信任，透明度和居住的核心思想如何具有新的效率和價值的潛力。

But unlike traditional assets that have long been institutionalized, securitized and packaged into off-the-shelf products, the foundational pillars of crypto are still being built. This means crypto has a long way to go with institutionalization and eventual consolidation with the structures of traditional finance. Depending on an investor’s risk profile and investment time horizon, this can represent new opportunities.

但是，與長期以來一直被制度化，證券化並包裝到現成產品中的傳統資產不同，加密貨幣的基礎支柱仍在建造。這意味著加密與傳統金融結構的製度化和最終合併有很長的路要走。根據投資者的風險概況和投資時間範圍，這可以代表新的機會。

For private wealth investors who have accepted the volatility of crypto, the DYOR (Do Your Own Research) ethos nonetheless has become a recurring pain point. These investors and their wealth managers have expressed to us their strong interest in crypto, but have found the learning process challenging. To help them unlock access, we have to provide an experience that is similar to that found in traditional finance.

對於接受加密貨幣波動的私人財富投資者而言，染料（做自己的研究）的精神已經成為一個經常性的疼痛點。這些投資者及其財富管理人員向我們表示對加密貨幣的濃厚興趣，但發現學習過程具有挑戰性。為了幫助他們解鎖訪問權限，我們必須提供與傳統金融中相似的經驗。

Private wealth clients are used to high-touch service throughout the lifecycle of their wealth management needs, supported by their wealth bankers and financial advisors in everything from onboarding to investment recommendations. The crypto industry needs exchange infrastructure solutions for wealth managers to support their high-net-worth investors (HNWI). More must be done to activate this segment, and the success of the crypto ETFs launched last year illustrates that product-market fit is key to meeting the pent up demand.

私人財富客戶在其財富管理需求的整個生命週期中都習慣於高調服務，並得到財富銀行家和財務顧問的支持，從入職，投資建議到投資建議。加密行業需要為財富管理人員提供交換基礎設施解決方案，以支持其高淨值投資者（HNWI）。要激活這一細分市場，必須做更多的事情，去年推出的加密ETF的成功表明，產品市場擬合是滿足需求需求的關鍵。

Besides educating investors about crypto, our industry must develop products that are tailored to the needs of HWNIs and family offices to make the onboarding process simpler. Bitwise’s latest survey of financial advisors indicates interest in crypto from the wealth advisory segment is set to increase, but access remains a major blocker. Products that bridge crypto with traditional finance will help engage and unlock private wealth, further legitimizing the asset class.

除了向投資者提供有關加密貨幣的教育外，我們的行業還必須開發針對HWNIS和家庭辦公室需求量身定制的產品，以使入職過程更簡單。 BITWISE對財務顧問的最新調查表明，從財富諮詢部門對加密貨幣的興趣將增加，但訪問仍然是主要阻礙者。將加密貨幣與傳統金融橋接的產品將有助於參與並解鎖私人財富，從而進一步使資產類別合法化。