比特幣、以太幣組合基金將引領 2025 年 ETF 浪潮

彭博社的 Eric Balchunas 在 Twitter 上透露，他預計“明年將出現一波加密貨幣 ETF，儘管不是一下子出現”

Multiple new crypto exchange-traded funds (ETFs) are expected to launch in 2025 amid anticipated changes in Securities and Exchange Commission (SEC) leadership, following Republican Donald Trump's victory in the U.S. presidential election.

共和黨唐納德·川普在美國總統大選中獲勝後，預計美國證券交易委員會 (SEC) 領導層將發生變化，預計將於 2025 年推出多個新的加密貨幣交易所交易基金 (ETF)。

Wall Street is pushing for Ripple’s XRP to win a U.S.-listed spot ETF, following in the footsteps of Bitcoin and Ether (ETH), which scored their own spot ETFs earlier this year. However, a Bloomberg ETF analyst suggests that an XRP, or even Solana (SOL) ETF, will likely launch after a Litecoin ETF hits the market.

華爾街正在追隨比特幣和以太坊 (ETH) 的腳步，推動 Ripple 的 XRP 贏得在美國上市的現貨 ETF，這兩家公司今年稍早也獲得了自己的現貨 ETF。然而，彭博 ETF 分析師表示，XRP 甚至 Solana (SOL) ETF 可能會在萊特幣 ETF 上市後推出。

Bitcoin, Ethereum Combo Funds To Lead ETF Wave Of 2025 Taking to Twitter on Friday, Bloomberg’s senior ETF analyst Eric Balchunas shared an analysis from fellow ETF analyst James Seyffart, revealing that he expects “a wave of cryptocurrency ETFs next year, albeit not all at once.”

比特幣、以太坊組合基金將引領2025 年ETF 浪潮彭博社高級ETF 分析師Eric Balchunas 週五在推特上分享了ETF 分析師James Seyffart 的分析，透露他預計「明年將出現一波加密貨幣ETF 浪潮，儘管並非全部都在一次。

Balchunas anticipates Bitcoin and Ethereum combo ETFs hitting the market in 2025, along with potential offerings for Litecoin, XRP, Solana, and HBAR.

Balchunas 預計比特幣和以太坊組合 ETF 將於 2025 年上市，同時還有萊特幣、XRP、Solana 和 HBAR 的潛在產品。

However, the ETF expert believes that the new Bitcoin and Ether combo funds will be greenlighted first, followed by ETFs tracking Litecoin (LTC) or Hedera Hashgraph (HBAR) assets.

然而，這位 ETF 專家認為，新的比特幣和以太坊組合基金將首先獲得批准，其次是追蹤萊特幣 (LTC) 或 Hedera Hashgraph (HBAR) 資產的 ETF。

Several asset managers, including Bitwise, Hashdex, and Franklin Templeton, have filed to introduce the Bitcoin and Ethereum combo ETFs.

Bitwise、Hashdex 和 Franklin Templeton 等多家資產管理公司已申請推出比特幣和以太坊組合 ETF。

The SEC is expected to embrace a more crypto-friendly outlook next year after pro-crypto Paul Atkins was nominated to replace crypto foe SEC Chair Gary Gensler. Gensler announced that he would step down from the agency on the day of Trump’s inauguration, January 20.

在支持加密貨幣的保羅·阿特金斯 (Paul Atkins) 被提名接替加密貨幣反對派 SEC 主席加里·詹斯勒 (Gary Gensler) 後，預計 SEC 明年將採取更加支持加密貨幣的前景。詹斯勒宣布，他將於 1 月 20 日川普就職當天辭去該機構職務。

But this doesn’t mean that XRP ETFs will be greenlit shortly after Atkins takes office, according to the Bloomberg ETF expert.

但這並不意味著 XRP ETF 將在阿特金斯上任後不久獲得批准，彭博社 ETF 專家表示。

XRP, Solana ETFs Not Coming In Near Future – Balchunas Notably, Balchunas doesn’t think the SEC will soon approve spot XRP and SOL ETFs.

XRP、Solana ETF 最近不會推出 – Balchunas 值得注意的是，Balchunas 認為 SEC 不會很快批准現貨 XRP 和 SOL ETF。

As you know, both XRP and Solana have been named as securities in pending lawsuits in the US. This issue must be resolved before the SEC can grant its approval.

如您所知，XRP 和 Solana 均已在美國未決訴訟中被列為證券。這個問題必須在 SEC 批准之前解決。

However, neither LTC nor HBAR has ever been called a security by the SEC, which makes their path to spot exchange-traded funds less complex than larger market-cap assets like XRP and Solana.

然而，LTC 和 HBAR 都沒有被 SEC 稱為證券，這使得它們獲得現貨交易所交易基金的路徑比 XRP 和 Solana 等較大市值資產更簡單。

Moreover, Litecoin is a fork of Bitcoin, and it could be considered a “commodity,” just like its progenitor.

此外，萊特幣是比特幣的一個分支，它可以被視為一種“商品”，就像它的祖先一樣。

While Balchunas sees HABR and LTC as having a higher chance of winning SEC approval, he said it is unclear whether there is enough investor demand for the ETF products.

雖然 Balchunas 認為 HABR 和 LTC 獲得 SEC 批准的機會較高，但他表示，目前尚不清楚投資者對 ETF 產品是否有足夠的需求。

At press time, only Canary Capital has filed registration documents for a spot LTC ETF with the SEC.

截至發稿，只有 Canary Capital 向 SEC 提交了現貨 LTC ETF 的註冊文件。