貝萊德修訂後的現貨比特幣 ETF 提案支持現金贖回

作為一項策略舉措，貝萊德修改了其現貨比特幣 ETF 備案，將現金贖回納入其中，這是 SEC 批准的潛在催化劑。這項變化符合傳統的市場慣例，旨在減輕對詐欺的擔憂。 ETF的持續發行和籃子贖回將主要以換取現金為目的，這可能會增強其對投資者的吸引力。

BlackRock Modifies Spot Bitcoin ETF Filing, Enabling Cash Redemptions

貝萊德修改現貨比特幣 ETF 備案，以實現現金贖回

New York, NY - In a significant development that could pave the way for regulatory approval, BlackRock, the world's largest asset manager, has revised its filing for a spot bitcoin exchange-traded fund (ETF) to incorporate cash redemptions.

紐約- 全球最大的資產管理公司貝萊德修改了其現貨比特幣交易所交易基金（ETF）的備案文件，將現金贖回納入其中，這是一項可能為監管部門批准鋪平道路的重大進展。

The amended filing, submitted to the U.S. Securities and Exchange Commission (SEC), allows investors to redeem units of the ETF for cash, in addition to the previously proposed in-kind redemptions, where investors would receive bitcoin in exchange for their ETF shares.

提交給美國證券交易委員會 (SEC) 的修改後的文件允許投資者將 ETF 單位贖回為現金，此外還有先前提議的實物贖回，即投資者將收到比特幣以換取 ETF 份額。

This strategic adjustment addresses a major concern raised by the SEC in its previous rejections of spot bitcoin ETF applications, which cited concerns over the potential for fraud and the lack of a robust regulatory framework for physical bitcoin trading.

這項策略調整解決了 SEC 在先前拒絕現貨比特幣 ETF 申請時提出的一個主要擔憂，該申請提到了對潛在詐欺行為以及實體比特幣交易缺乏強有力的監管框架的擔憂。

"The Trust issues and redeems baskets on a continuous basis. These transactions will take place in exchange for cash. Subject to the in-kind regulatory approval, these transactions may also take place in exchange for Bitcoin," BlackRock's iShares Bitcoin Trust ETF said in a regulatory filing late on Monday.

貝萊德旗下 iShares 比特幣信託 ETF 表示：「該信託基金持續發行和贖回籃子。這些交易將換取現金。在獲得實物監管批准的情況下，這些交易也可能會換取比特幣。」週一晚點時候提交的監管文件。

The SEC has previously denied all applications for spot bitcoin ETFs, expressing skepticism about the ability to prevent market manipulation and protect investors from fraud. However, the market remains hopeful that BlackRock's latest modification, coupled with the ongoing regulatory scrutiny of crypto exchanges and custodians, could improve the chances of approval.

SEC 先前拒絕了所有現貨比特幣 ETF 的申請，並對防止市場操縱和保護投資者免受詐欺的能力表示懷疑。然而，市場仍然希望貝萊德的最新修改，加上對加密貨幣交易所和託管機構正在進行的監管審查，可以提高獲得批准的機會。

A spot crypto ETF would mirror the price movements of the underlying cryptocurrency, providing investors with exposure to bitcoin without the complexities and risks associated with purchasing and storing it directly.

現貨加密貨幣 ETF 將反映基礎加密貨幣的價格走勢，為投資者提供比特幣投資機會，而無需承擔直接購買和儲存比特幣的複雜性和風險。

"This change could address one of the main concerns that the SEC has cited in rejecting previous spot Bitcoin ETFs, and could significantly increase the chances of BlackRock's ETF being approved," said a market analyst.

一位市場分析師表示：“這一變化可能會解決美國證券交易委員會在拒絕之前現貨比特幣 ETF 時提到的主要擔憂之一，並可能大大增加貝萊德 ETF 獲得批准的機會。”

The revised filing has reinvigorated the crypto market, which has faced a series of challenges and meltdowns in recent times. Several other traditional finance heavyweights, including Fidelity and Charles Schwab, have also filed for spot bitcoin ETFs, signaling growing institutional interest in the crypto asset class.

修改後的文件重振了加密貨幣市場，近年來面臨一系列挑戰和崩潰。其他幾家傳統金融巨頭，包括富達 (Fidelity) 和嘉信理財 (Charles Schwab) 也申請了現貨比特幣 ETF，這表明機構對加密資產類別的興趣日益濃厚。

The SEC is expected to rule on BlackRock's latest filing early next year, and its decision will have a profound impact on the future of digital assets and the role of financial institutions in the crypto market.

預計 SEC 將於明年初對貝萊德最新提交的文件作出裁決，其決定將對數位資產的未來以及金融機構在加密市場中的作用產生深遠影響。