加密市場發熱持續存在，因為機構堆入ETF，貝萊德計劃歐洲比特幣產品

本週，一系列的ETF申請代表更渴望的資產經理從熱情交流到美國安全交易委員會的門口。

Institutions just can't get enough crypto exchange-traded funds (ETFs). With Trump—“the Crypto President”—now in office, the industry is going full steam ahead with its ambitions to milk the digital asset market at every opportunity.

機構無法獲得足夠的加密交易所交易資金（ETF）。隨著特朗普（“加密貨幣總統”）的任期，該行業正以每一個機會擠滿數字資產市場的雄心壯志。

This week saw a slew of ETF applications reach the doorstep of the U.S. Security Exchange Commission from enthusiastic exchanges on behalf of even more eager asset managers.

本週，一系列的ETF申請代表更渴望的資產管理人員從熱情的交流中到達了美國安全交易委員會的家門口。

Chicago’s Cboe Exchange has submitted four separate applications to the SEC for XRP ETFs from WisdomTree, Bitwise, 21Shares, and Canary. Meanwhile, Franklin Templeton filed for regulatory approval from the SEC to launch a new crypto index ETF, and Crypto.com announced plans to launch an ETF for its native token, Cronos (CRO), while planning its own stablecoin. Even more surprisingly, 21Shares filed for a Polkadot ETF, much to the dismay of the crypto industry.

芝加哥的CBOE Exchange已向SEC提交了四個獨立的應用程序，該應用程序來自WisdomTree，Bitwise，21shares和Canary的XRP ETF。同時，富蘭克林·鄧普頓（Franklin Templeton）向SEC申請了監管機構批准，以啟動新的加密指數ETF，而Crypto.com在計劃自己的stablecoin的同時，宣布了為其本土代幣Cronos（CRO）啟動ETF的計劃。更令人驚訝的是，21shares申請了Polkadot ETF，這使加密貨幣行業感到沮喪。

This all comes as the SEC intends to scale back its crypto enforcement unit. Lawyers from the unit are reportedly being reassigned to other departments within the agency, with one top lawyer being moved out of enforcement. This reassignment has been regarded as an unfair demotion, by some, potentially signaling internal disagreements about the agency’s direction on crypto regulation.

這一切都是因為SEC打算擴大其加密執法單元。據報導，該單位的律師正在將機構內部的其他部門重新分配，其中一名頂級律師被移出執法。這種重新分配被認為是對代理機構在加密監管方向的內部分歧的可能性表達的不公平降級。

It's not just the U.S. that has crypto-institutional fever either. BlackRock this week revealed it plans to introduce an exchange-traded product (ETP) linked to Bitcoin in Europe.

不僅是美國也有加密訓練發燒。 Blackrock本週透露，它計劃引入與歐洲比特幣相關的交易所交易產品（ETP）。

Managing over $4.4 trillion in ETFs globally, the world's largest asset manager has already amassed $58 billion in assets through its U.S. Bitcoin ETF. Its new European fund is reported to be domiciled in Switzerland, with BlackRock expected to begin marketing the product this month.

全球擁有超過4.4萬億美元的ETF，全球最大的資產經理已經通過其美國比特幣ETF積累了580億美元的資產。據報導，其新的歐洲基金在瑞士居住，貝萊德預計將在本月開始營銷該產品。

But not everything is rosy in the world of crypto. MicroStrategy, which unexpectedly rebranded to "Strategy," reported a mixed financial performance in its Q4 earnings.

但是，並非一切都在加密世界中玫瑰色。 MicroStrategy意外地將“戰略”重新命名為“戰略”。

The company posted $120.7 million in revenue, falling short of analyst expectations of $123.25 million. Total revenue declined 3% year-over-year, while subscription services revenue grew 48.4% to $31.9 million. Other revenue streams, including product support and consulting services, saw declines.

該公司的收入為1.207億美元，不超過分析師預期的1.232億美元。總收入同比下降3％，而訂閱服務收入增長了48.4％，達到3190萬美元。其他收入來源，包括產品支持和諮詢服務，也有所下降。

Its stock price, which soared 740% in 2024 alone, has consequently taken a bit of a beating, trading at 20% below its 2024 high.

其股票價格僅在2024年就飆升了740％，因此進行了一些毆打，其交易價格低於其2024年高的20％。

That said, it's not exactly like the market is having a great week either. Perhaps still hungover from the whole DeepSeek market crash last week, both the stock market and crypto market aren't performing at their best this week.

也就是說，這也不是市場度過一個愉快的一周。上週整個DeepSeek市場崩潰的宿舍也許仍然宿醉，本週股市和加密貨幣市場都沒有表現出色。

Bitcoin is down slightly under 1% but is still trading below its celebrated $100K mark. Ethereum is down more than 5%, far below the $3K mark.

比特幣的下跌略低於1％，但仍低於其著名的$ 10萬美元。以太坊的下降超過5％，遠低於$ 3K。

Risk appetites have slipped last week's 76, "Extreme Greed," to 44, "Fear." The Fear & Greed Index uses 5-6 measurements to assess the current sentiment of the market and then rates that level of emotion on a scale of 1-100 – 1 is extreme fear and 100 is extreme greed.

上週的76個“極端貪婪”的風險食慾下滑至44歲，“恐懼”。恐懼和貪婪指數使用5-6個測量值來評估當前市場的情感，然後以1-100 - 1的規模對情感水平進行評估是極端的恐懼，而100是極端貪婪。

But as always, BRN is here to calm your woes. "We anticipate that the numerous positive developments will drive Bitcoin and altcoins to significantly higher levels in 2025. As such, we maintain our recommendation to hold a heavy crypto allocation and buy the dip—continuing to favor Bitcoin over Ethereum," BRN analyst, Valentin Fournier suggests.

但是，與往常一樣，BRN在這里平靜您的煩惱。 “我們預計，眾多積極的發展將使比特幣和山寨幣在2025年達到更高的水平。因此，我們堅持建議進行大量加密分配併購買傾角，併購買- 持續使用比特幣，而不是以太坊， ”瓦倫丁（Valentin），瓦倫丁（Valentin） Fournier建議。

Yesterday, the SEC acknowledged ETF applications for $XRP, $SOL, and $LTC. While this does not guarantee approval, it signals a more favorable stance from the current administration towards lower-cap ETFs.

昨天，SEC確認了$ XRP，$ SOL和$ LTC的ETF申請。儘管這不能保證批准，但它標誌著當前管理部門對低CAP ETF的更有利立場。