到 2025 年可能擁有 ETF 的 3 種加密貨幣

隨著加密貨幣市場的不斷成熟，機構對數位資產的興趣正在迅速增長。最重要的里程碑之一

As 2025 approaches, the cryptocurrency market is poised for continued growth and institutional adoption. Among the key developments that could shape the industry's future is the potential approval of exchange-traded funds (ETFs) for major cryptocurrencies.

隨著 2025 年的臨近，加密貨幣市場預計將持續成長和機構採用。可能塑造該行業未來的關鍵發展之一是主要加密貨幣的交易所交易基金（ETF）的潛在批准。

ETFs offer a convenient and regulated mechanism for traditional investors to gain exposure to the price movements of assets like Bitcoin or Ethereum without directly owning the underlying digital asset. While Bitcoin has already seen a few ETFs approved in various countries, the landscape is ripe for more cryptocurrencies to gain ETF status by 2025.

ETF 為傳統投資者提供了一種便捷且受監管的機制，讓他們無需直接擁有基礎數位資產即可了解比特幣或以太坊等資產的價格變動。雖然比特幣已經在多個國家獲得了批准，但到 2025 年，更多加密貨幣獲得 ETF 地位的時機已經成熟。

Here are three cryptocurrencies that could potentially have ETFs in the coming years:

以下是未來幾年可能擁有 ETF 的三種加密貨幣：

1. Bitcoin (BTC)

1. 比特幣（BTC）

As the flagship cryptocurrency, Bitcoin boasts the highest market capitalization and is naturally a prime candidate for further ETF developments. In fact, Bitcoin made history with the approval of the first cryptocurrency ETF in the United States in 2021. The ProShares Bitcoin Strategy ETF (BITO) tracks Bitcoin futures, but it still doesn’t provide direct exposure to Bitcoin itself. This product relies on futures contracts, which can sometimes lead to tracking errors.

作為旗艦加密貨幣，比特幣擁有最高的市值，自然是進一步發展 ETF 的主要候選人。事實上，隨著 2021 年美國首支加密貨幣 ETF 的批准，比特幣創造了歷史。該產品依賴期貨合約，這有時會導致追蹤錯誤。

However, as Bitcoin continues to lead the market with a market capitalization that far outstrips any other cryptocurrency, the push for a physically backed Bitcoin ETF is likely to intensify. A Bitcoin spot ETF, which directly tracks the price of BTC rather than Bitcoin futures, is expected by many industry experts to become a reality by 2025.

然而，隨著比特幣繼續以遠遠超過任何其他加密貨幣的市值引領市場，對實體支持的比特幣 ETF 的推動可能會加劇。許多行業專家預計，直接追蹤 BTC 而不是比特幣期貨價格的比特幣現貨 ETF 將在 2025 年成為現實。

A spot ETF would provide more accurate exposure to Bitcoin’s price movements and likely attract a significant amount of institutional capital, boosting the legitimacy of Bitcoin in the global financial system.

現貨ETF將提供更準確的比特幣價格走勢敞口，並可能吸引大量機構資本，從而提高比特幣在全球金融體系中的合法性。

2. Ethereum (ETH)

2.以太坊（ETH）

Ethereum, the second-largest cryptocurrency by market capitalization, has long been a favorite among developers and institutional investors. The recent shift to Ethereum 2.0 and its transition to a proof-of-stake (PoS) consensus mechanism has further solidified its role as a leader in the blockchain space.

以太坊是市值第二大的加密貨幣，長期以來一直受到開發商和機構投資者的青睞。最近向以太坊 2.0 的轉變以及向權益證明 (PoS) 共識機制的過渡進一步鞏固了其作為區塊鏈領域領導者的角色。

Ethereum's smart contract capabilities have led to its dominance in decentralized finance (DeFi), NFTs, and decentralized applications (dApps), making it a strong candidate for an ETF in the near future.

以太坊的智慧合約功能使其在去中心化金融（DeFi）、NFT 和去中心化應用程式（dApp）領域佔據主導地位，使其成為近期 ETF 的有力候選者。

Ethereum’s potential ETF approval is closely tied to its growing institutional adoption and the maturation of the Ethereum network post-merge. The creation of an Ethereum ETF would provide investors with exposure to the blockchain that powers a majority of DeFi applications and dApps, appealing to those seeking diversified exposure within the broader cryptocurrency space.

以太坊 ETF 的潛在批准與其不斷增長的機構採用率以及合併後以太坊網路的成熟度密切相關。以太坊 ETF 的創建將為投資者提供對區塊鏈的投資，該區塊鏈為大多數 DeFi 應用程式和 dApp 提供動力，吸引了那些在更廣泛的加密貨幣領域尋求多元化投資的人。

With growing interest in Ethereum from both retail and institutional investors, a Ethereum spot ETF could be a realistic possibility by 2025, providing a more straightforward method for investing in Ethereum compared to owning and staking ETH directly.

隨著散戶和機構投資者對以太坊的興趣日益濃厚，到 2025 年，以太坊現貨 ETF 可能成為現實，與直接擁有和質押 ETH 相比，它為投資以太坊提供了一種更直接的方法。

3. Solana (SOL)

3. 索拉納 (SUN)

Solana has emerged as one of the most prominent contenders for future growth in the cryptocurrency and blockchain ecosystem. Known for its high transaction speeds and low fees, Solana has gained significant attention in the DeFi, NFT, and decentralized application spaces.

Solana 已成為加密貨幣和區塊鏈生態系統未來成長的最重要競爭者之一。 Solana 以其高交易速度和低費用而聞名，在 DeFi、NFT 和去中心化應用領域獲得了廣泛關注。

Although Solana has not yet reached the same level of recognition as Bitcoin and Ethereum, it has grown rapidly, attracting institutional investors and developers alike. Solana's high-performance capabilities and its growing ecosystem of dApps and DeFi projects make it a strong candidate for an ETF.

儘管 Solana 尚未達到與比特幣和以太坊相同的認可度，但它已經快速增長，吸引了機構投資者和開發人員。 Solana 的高效能能力及其不斷發展的 dApp 和 DeFi 專案生態系統使其成為 ETF 的有力候選者。

With increased interest from institutional players, Solana could become a valuable asset for investors looking for exposure to alternative blockchain technologies. By 2025, if Solana continues to build on its use cases and maintains its technical advantages over other blockchains, an ETF tracking Solana’s price or a basket of top Solana-based projects could become a reality, offering investors an opportunity to tap into one of the fastest-growing blockchain networks.

隨著機構參與者興趣的增加，Solana 可能成為尋求替代區塊鏈技術的投資者的寶貴資產。到2025 年，如果Solana 繼續發展其用例並保持其相對於其他區塊鏈的技術優勢，那麼追蹤Solana 價格的ETF 或一籃子基於Solana 的頂級項目可能會成為現實，為投資者提供利用其中一個項目的機會。

Why ETFs Matter for Cryptocurrencies

為什麼 ETF 對加密貨幣很重要

In the world of traditional finance, exchange-traded funds (ETFs) have played a pivotal role, enabling both retail and institutional investors to effortlessly gain exposure to assets ranging from gold and oil to stock indices, all without the hassle of owning the underlying assets directly. Now, this same concept is poised to revolutionize the cryptocurrency market.

在傳統金融領域，交易所交易基金（ETF）發揮了關鍵作用，使散戶和機構投資者能夠輕鬆獲得從黃金、石油到股票指數等資產的投資，而無需擁有基礎資產的麻煩直接地。現在，同樣的概念也有望徹底改變加密貨幣市場。

ETFs provide a simpler and more regulated avenue for mainstream investors to venture into the world of digital assets, without the need to navigate the complexities of setting up wallets, managing private keys, or dealing with the intricacies of cryptocurrency exchanges.

ETF 為主流投資者進入數位資產世界提供了一種更簡單、更受監管的途徑，而無需處理設定錢包、管理私鑰或處理複雜的加密貨幣交易的複雜問題。

The approval of cryptocurrency ETFs could lead to greater institutional adoption, as they would make it easier for hedge funds, mutual funds, and pension funds to include digital assets in their portfolios. This influx of institutional capital could boost the legitimacy of cryptocurrencies, reduce volatility, and lead to more widespread adoption by mainstream investors.

加密貨幣 ETF 的批准可能會導致更多機構採用，因為它們將使對沖基金、共同基金和退休基金更容易將數位資產納入其投資組合。機構資本的湧入可以提高加密貨幣的合法性，減少波動性，並導致主流投資者更廣泛地採用。

As we move toward 2025, cryptocurrencies like Bitcoin, Ethereum, and Solana are well-positioned to potentially see ETFs that would allow traditional investors to tap into the digital asset class. Bitcoin is already leading the way, with the possibility of a spot Bitcoin ETF becoming a reality in the near future.

隨著我們邁向 2025 年，比特幣、以太幣和 Solana 等加密貨幣處於有利位置，有可能出現 ETF，讓傳統投資者能夠進入數位資產類別。比特幣已經處於領先地位，現貨比特幣 ETF 有可能在不久的將來成為現實。

Meanwhile, Ethereum's growth and increasing institutional adoption make it a strong contender for an ETF launch as well. And

同時，以太坊的成長和機構採用率的不斷提高也使其成為 ETF 推出的有力競爭者。和