加密貨幣 ETF：徹底改變投資組合還是創投？

最近加密貨幣交易所交易基金（ETF）的激增表明數位資產正在成為主流投資工具。這一轉變為個人投資者、機構和監管機構帶來了令人興奮的機會和挑戰。

Cryptocurrency investment company Bitwise has made several significant moves recently, including submitting an application to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that would hold its diversified 10 Crypto Index Fund. This fund includes leading cryptocurrencies such as Bitcoin, Ethereum, Solana, and Cardano, among others.

加密貨幣投資公司Bitwise 最近採取了幾項重大舉措，包括向美國證券交易委員會(SEC) 提交了一項交易所交易基金(ETF) 的申請，該基金將持有其多元化的10 加密貨幣指數基金。該基金包括比特幣、以太幣、Solana 和 Cardano 等領先的加密貨幣。

The application marks one of the most comprehensive proposals for a crypto ETF in the United States. If approved, the ETF would trade on Cboe BZX Exchange and be available to a broad range of investors.

該申請標誌著美國最全面的加密 ETF 提案之一。如果獲得批准，該 ETF 將在 Cboe BZX 交易所進行交易，並向廣大投資者開放。

In another development, Ripple has announced its support for Bitwise's Physical XRP ETP, which is designed to provide European investors with direct access to XRP.

另一方面，Ripple 宣布支持 Bitwise 的實體 XRP ETP，旨在為歐洲投資者提供直接獲取 XRP 的機會。

According to industry insiders, the renewed clarity in U.S. cryptocurrency regulations has created an opportunity for such products to flourish.

業內人士表示，美國加密貨幣法規的重新明確為此類產品的蓬勃發展創造了機會。

Furthermore, Bitwise has submitted the necessary regulatory documents to venture into the growing Solana ETF space, joining competitors VanEck and 21Shares.

此外，Bitwise 已提交必要的監管文件，加入競爭對手 VanEck 和 21Shares 的行列，涉足不斷增長的 Solana ETF 領域。

In a related move, WisdomTree has taken steps to prepare an XRP-focused ETF by registering “WisdomTree XRP Fund” in Delaware. This action reflects the growing demand for digital asset investment vehicles.

在一項相關舉措中，WisdomTree 已採取措施，透過在特拉華州註冊「WisdomTree XRP 基金」來準備以 XRP 為重點的 ETF。這項行動反映了對數位資產投資工具不斷增長的需求。

Meanwhile, 21Shares is expanding its offerings with the launch of new ETPs covering tokens like Ondo Finance and Near Protocol.

同時，21Shares 正在擴大其產品範圍，推出涵蓋 Ondo Finance 和 Near Protocol 等代幣的新 ETP。

These initiatives showcase 21Shares' ongoing commitment to providing innovative investment products in the cryptocurrency domain.

這些舉措展示了 21Shares 對在加密貨幣領域提供創新投資產品的持續承諾。

The broader landscape of cryptocurrency ETFs is also rapidly evolving, with several key developments emerging beyond the U.S. and European markets.

加密貨幣 ETF 的更廣泛前景也在迅速發展，美國和歐洲市場之外出現了一些關鍵發展。

In Canada, for instance, Purpose Investments has launched a spot Bitcoin ETF, while Evolve Funds has introduced an Ethereum ETF. Both ETFs have seen strong demand and are now among the largest in the country.

例如，在加拿大，Purpose Investments 推出了現貨比特幣 ETF，而 Evolve Funds 則推出了以太坊 ETF。這兩隻 ETF 的需求強勁，目前已躋身全國最大的 ETF 之列。

Moreover, Brazil has also taken steps to approve an ETF that provides exposure to both Bitcoin and Ethereum.

此外，巴西也採取措施批准了同時提供比特幣和以太坊曝險的 ETF。

The introduction of crypto ETFs in the U.S. is expected to create a ripple effect, encouraging more countries to adopt similar measures, thus fostering a more interconnected global financial system.

美國推出加密貨幣 ETF 預計將產生連鎖反應，鼓勵更多國家採取類似措施，以培養更連結的全球金融體系。

Cryptocurrency ETFs: A Closer Examination

加密貨幣 ETF：仔細檢查

The recent surge in cryptocurrency exchange-traded funds (ETFs) suggests that digital assets are becoming mainstream investment vehicles. This shift presents exciting opportunities and challenges for individual investors, institutions, and regulators.

最近加密貨幣交易所交易基金（ETF）的激增表明數位資產正在成為主流投資工具。這一轉變為個人投資者、機構和監管機構帶來了令人興奮的機會和挑戰。

Here, we'll explore some emerging developments and delve into the broader implications of crypto ETFs.

在這裡，我們將探討一些新興發展，並深入探討加密 ETF 的更廣泛影響。

While Bitwise, Ripple, and WisdomTree focus on U.S. and European markets, other regions are experiencing significant developments in crypto ETFs.

雖然 Bitwise、Ripple 和 WisdomTree 專注於美國和歐洲市場，但其他地區的加密 ETF 正在經歷重大發展。

For example, countries like Canada and Brazil have already approved Bitcoin and Ethereum ETFs, paving the way for global acceptance.

例如，加拿大和巴西等國家已經批准了比特幣和以太坊 ETF，為全球接受鋪平了道路。

The appeal of crypto ETFs lies in their ability to provide a safer and more regulated means of investing in digital currencies, especially for institutional investors who are typically wary of the volatility and security risks associated with direct crypto purchases.

加密貨幣 ETF 的吸引力在於它們能夠提供更安全、更受監管的數位貨幣投資方式，特別是對於通常對直接購買加密貨幣相關的波動性和安全風險持謹慎態度的機構投資者而言。

Additionally, ETFs allow for diversification within one investment vehicle, encompassing multiple cryptocurrencies which might otherwise require separate purchases.

此外，ETF 允許在一種投資工具內實現多元化，包括多種加密貨幣，否則可能需要單獨購買。

However, crypto ETFs are not without controversy. Critics argue that the introduction of ETFs based on volatile digital assets could increase systemic risk within traditional financial systems.

然而，加密 ETF 並非沒有爭議。批評者認為，引入基於波動性數位資產的 ETF 可能會增加傳統金融體系內的系統性風險。

The potential for market manipulation and lack of historical data to assess long-term risks are further points of concern. Moreover, with the regulatory environment still evolving, investors face uncertainty regarding potential future restrictions or changes.

市場操縱的可能性和缺乏評估長期風險的歷史數據是進一步令人擔憂的問題。此外，隨著監管環境仍在不斷發展，投資者面臨未來潛在限製或變化的不確定性。

On the flip side, crypto ETFs can democratize access to digital asset investments. By lowering the barrier to entry, smaller investors can participate in a market once dominated by large, tech-savvy players.

另一方面，加密貨幣 ETF 可以實現數位資產投資的民主化。透過降低進入門檻，小投資者可以參與曾經由精通科技的大型企業主導的市場。

Additionally, ETFs could boost local economies by drawing in foreign investment and enhancing technological infrastructure.

此外，ETF 可以透過吸引外國投資和加強技術基礎設施來促進當地經濟。

FAQs About Crypto ETFs

加密貨幣 ETF 的常見問題解答

1. How do crypto ETFs benefit traditional investors? Crypto ETFs offer exposure to the high-growth potential of cryptocurrencies while providing the familiar structure and security of traditional ETFs.

1. 加密ETF如何讓傳統投資者受益？加密貨幣 ETF 提供了加密貨幣的高成長潛力，同時提供傳統 ETF 的熟悉結構和安全性。

2. Are crypto ETFs safer than direct crypto investment? While they are generally considered less risky due to more stringent regulatory oversight, they still carry the inherent volatility of the underlying assets.

2. 加密貨幣ETF比直接加密貨幣投資更安全嗎？雖然由於更嚴格的監管監督，它們通常被認為風險較小，但它們仍然具有基礎資產固有的波動性。

3. What future developments can we expect? As the regulatory landscape clarifies, we anticipate a broader range of crypto ETFs, potentially including thematic or sector-specific funds (e.g., DeFi-focused ETFs).

3. 我們可以期待哪些未來的發展？隨著監管環境的明確，我們預期加密 ETF 的範圍將更加廣泛，可能包括主題基金或特定產業基金（例如，專注於 DeFi 的 ETF）。

Conclusion

結論

The evolving landscape of cryptocurrency ETFs presents both promising opportunities and significant risks. As financial institutions and regulators work to strike a balance between innovation and protection, the role of digital assets within the global economy will continue to expand and adapt.

加密貨幣 ETF 不斷發展的格局既帶來了光明的機遇，也帶來了巨大的風險。隨著金融機構和監管機構努力在創新和保護之間取得平衡，數位資產在全球經濟中的作用將繼續擴大和適應。

For more information on digital asset investments and ETFs, you might explore these reliable resources: Investopedia and Crypto.com.

有關數位資產投資和 ETF 的更多信息，您可以探索這些可靠的資源：Investopedia 和 Crypto.com。