比特幣 ETF 是死胡同還是動力減弱？

Are Bitcoin ETFs a Dead End?

比特幣ETF是死胡同嗎？

The spot Bitcoin exchange-traded fund (ETF) market has seen a surge in popularity, amassing $50 billion in assets under management in just 2.4 months. However, a recent slowdown in inflows has raised questions about whether the market's momentum has fizzled out. Industry expert Nate Geraci, President of The ETF Store, believes otherwise.

現貨比特幣交易所交易基金 (ETF) 市場人氣激增，在短短 2.4 個月內管理的資產就達到了 500 億美元。然而，最近資金流入放緩引發了人們對市場動力是否已經減弱的疑問。產業專家、The ETF Store 總裁 Nate Geraci 可不這麼認為。

Why the Optimism?

為什麼樂觀？

Geraci points to the untapped potential among Registered Investment Advisor (RIA) platforms and brokerage firms. If these institutions embrace the spot Bitcoin ETF, he predicts a new wave of investors entering the market. Currently, the ETF is available through major investment management companies like BlackRock, VanEck, and Fidelity Investments.

Geraci 指出註冊投資顧問（RIA）平台和經紀公司尚未開發的潛力。如果這些機構接受現貨比特幣 ETF，他預計將有新一波投資者進入市場。目前，該 ETF 可透過 BlackRock、VanEck 和 Fidelity Investments 等主要投資管理公司購買。

A Surge of Interest

興趣高漲

Geraci notes that prior to the ETF's approval in January, there was little demand. However, the regulatory green light has sparked interest from financial institutions. Last month, a group of U.S. banks jointly requested the SEC to revise crypto guidelines, paving the way for banks to participate in the Bitcoin ETF market.

Geraci 指出，在該 ETF 一月份獲得批准之前，需求很少。然而，監管綠燈引起了金融機構的興趣。上個月，美國多家銀行聯合要求 SEC 修改加密貨幣指南，為銀行參與比特幣 ETF 市場鋪路。

Media Misperception

媒體誤解

Geraci's optimism stands in contrast to media reports suggesting the demise of the spot Bitcoin ETF. While inflows have slowed, investors are still pouring money into the asset.

傑拉奇的樂觀態度與暗示現貨比特幣 ETF 消亡的媒體報道形成鮮明對比。儘管資金流入放緩，但投資者仍在向該資產注入資金。

What's Dampening Enthusiasm?

是什麼削弱了熱情？

Despite the overall positive sentiment, the recent dip in Bitcoin's price has dampened enthusiasm for the ETF. Earlier this month, BTC reached a high of $73,700, but has since retreated to around $68,800.

儘管整體情緒積極，但近期比特幣價格下跌削弱了對該 ETF 的熱情。本月早些時候，比特幣觸及 73,700 美元的高點，但此後回落至 68,800 美元左右。

A Note of Caution

注意事項

Geraci emphasizes that the ETF market is still in its early stages and could experience volatility. Investors should approach with caution and conduct thorough research before making any decisions.

Geraci 強調，ETF 市場仍處於早期階段，可能會出現波動。投資者在做出任何決定之前應謹慎行事並進行徹底研究。

Conclusion

結論

While the spot Bitcoin ETF market may have hit a temporary lull, industry experts like Nate Geraci remain bullish on its long-term prospects. The untapped potential among RIAs and brokerage firms, coupled with growing institutional interest, suggests that the party is far from over. However, investors should be mindful of market fluctuations and proceed with caution.

儘管現貨比特幣 ETF 市場可能暫時陷入平靜，但 Nate Geraci 等行業專家仍然看好其長期前景。 RIA 和經紀公司尚未開發的潛力，加上機構興趣的不斷增長，表明這場盛會還遠未結束。不過，投資人應留意市場波動，謹慎行事。