分析師稱 SEC 領導層可能發生變動，預計加密貨幣 ETF 到 2025 年將激增

彭博分析師 Eric Balchunas 和 James Seyffart 預測，到2025 年，加密貨幣ETF 數量將激增，理由是SEC 領導層可能會因支持加密貨幣而發生變化。

Bloomberg analysts Eric Balchunas and James Seyffart are predicting a surge in cryptocurrency ETFs by 2025, thanks in part to potential SEC leadership changes with pro-crypto advocate Paul Atkins' nomination. They expect a more favorable environment for ETFs linked to major tokens like Bitcoin, Ethereum, XRP, and others.

彭博分析師 Eric Balchunas 和詹姆斯·塞法特(James Seyffart) 預測，到2025 年，加密貨幣ETF 數量將激增，部分原因是支持加密貨幣倡導者保羅·阿特金斯(Paul Atkins) 提名後，美國證券交易委員會(SEC) 領導層可能發生變動。他們預計，與比特幣、以太坊、XRP 等主要代幣相關的 ETF 將會有更有利的環境。

Here's what to expect in the next few years:

以下是未來幾年的預期：

Bitcoin and Ethereum ETFs will likely lead the way in 2025. These products are aligned with existing regulatory frameworks, increasing their chances of approval. Companies like Hashdex, Franklin Templeton, and Bitwise are expected to introduce Bitcoin and Ethereum ETFs.

比特幣和以太坊 ETF 可能會在 2025 年引領潮流。 Hashdex、富蘭克林鄧普頓和 Bitwise 等公司預計將推出比特幣和以太坊 ETF。

Don't expect Solana and XRP ETFs right away. Both cryptocurrencies are entangled in legal disputes regarding their classification as securities. XRP's parent company, Ripple, has been engaged in a lengthy legal battle with the SEC, while Solana faces similar scrutiny. Any ETF tied to these tokens will likely be delayed until the new SEC leadership clarifies the regulatory status.

不要指望 Solana 和 XRP ETF 會立即出現。這兩種加密貨幣都捲入了有關其證券分類的法律糾紛。 XRP 的母公司 Ripple 一直在與 SEC 進行長期的法律鬥爭，而 Solana 也面臨類似的審查。任何與這些代幣相關的 ETF 都可能會被推遲，直到新的 SEC 領導層澄清監管狀況。

In contrast, Litecoin and HBAR ETFs are more likely to gain approval. Litecoin's close association with Bitcoin—a fork of the Bitcoin blockchain—gives it a distinct advantage in regulatory discussions. Similarly, HBAR has avoided classification as a security, so it faces fewer legal problems.

相比之下，萊特幣和 HBAR ETF 更有可能獲得批准。萊特幣與比特幣（比特幣區塊鏈的一個分支）的密切聯繫使其在監管討論中具有明顯的優勢。同樣，HBAR 避免了被歸類為證券，因此面臨的法律問題較少。

However, the demand for these ETFs remains uncertain. Only a few issuers have expressed interest in launching Litecoin and HBAR ETFs, which may limit their market impact.

然而，對這些 ETF 的需求仍然不確定。只有少數發行人表示有興趣推出萊特幣和 HBAR ETF，這可能會限制它們的市場影響。

The approval of cryptocurrency ETFs in the U.S. has been a slow and winding road, largely due to the regulatory uncertainty surrounding digital assets. While the SEC has approved several Bitcoin futures ETFs, the highly anticipated spot Bitcoin ETFs faced significant delays.

美國加密貨幣 ETF 的批准是一條緩慢而曲折的道路，很大程度上是由於數位資產的監管不確定性。儘管 SEC 已批准了幾隻比特幣期貨 ETF，但備受期待的比特幣現貨 ETF 卻面臨嚴重延誤。

The Trump administration had appointed several pro-cryptocurrency figures to the SEC, including Commissioner Hester Peirce, who has been a vocal advocate for approving spot Bitcoin ETFs. However, the Biden administration has yet to fill key positions at the SEC, and the nominees are expected to face scrutiny from both parties in the Senate.

川普政府已向 SEC 任命了幾位支持加密貨幣的人士，包括委員 Hester Peirce，她一直大力倡導批准現貨比特幣 ETF。不過，拜登政府尚未填補美國證券交易委員會的關鍵職位，提名者預計將面臨參議院兩黨的審查。

Despite the delays, the growing demand from investors and the changing regulatory landscape are setting the stage for a potential breakthrough in the approval of altcoin ETFs in the next few years.

儘管出現了延誤，但投資者不斷增長的需求和不斷變化的監管環境正在為未來幾年山寨幣 ETF 審批的潛在突破奠定基礎。