今年，美國證券交易委員會（SEC）計劃審查70多個加密貨幣交易所交易基金（ETF）

根據彭博分析師Eric Balchunas的說法，該列表包括持有一系列資產的擬議ETF，從山寨幣到模因再到衍生工具。

The US Securities and Exchange Commission (SEC) is set to decide on more than 70 cryptocurrency exchange-traded funds (ETFs) this year.

美國證券交易委員會（SEC）將於今年決定70多個加密貨幣交易所資金（ETF）。

According to Bloomberg analyst Eric Balchunas, the list includes proposed ETFs holding altcoins, memecoins, derivatives instruments and more.

根據彭博分析師Eric Balchunas的說法，該列表包括擬議的ETF，持有Altcoins，Memecoins，Memecoins，衍生工具等。

“Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Balchunas said in an April 21 post on the X platform. “Gonna be a wild year.”

“從XRP，Litecoin和Solana到Penguins，Doge和2x Melania以及兩者之間的所有內容，” Balchunas在4月21日的X平台上的一篇文章中說。 “要成為狂野的一年。”

Uncertain institutional demand

不確定的機構需求

The planned funds listings come as institutional investors are becoming increasingly bullish on crypto as an asset class. Upward of 80% of institutions say they plan to increase allocations to crypto in 2025, according to a March report by Coinbase and EY-Parthenon.

隨著機構投資者越來越對加密貨幣作為資產類別的看漲，計劃中的資金上市列出了。根據Coinbase和Ey-Parthenon的3月份報告，超過80％的機構表示，他們計劃在2025年增加對加密貨幣的分配。

However, analysts caution that just because ETFs are approved for US listings doesn’t guarantee widespread adoption, especially for funds holding more obscure alternative cryptocurrencies.

但是，分析師警告說，僅僅因為ETF被批准為美國列表，並不能保證廣泛採用，尤其是對於擁有更晦澀的替代加密貨幣的資金。

“Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said.

Balchunas說：“擁有硬幣獲得ETF的大小就像是在樂隊中，並將歌曲添加到所有音樂流媒體服務中。”

“Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”

“不能保證聽，但它將您的音樂放在絕大多數聽眾的位置。”

Sygnum Bank’s research head, Katalin Tischhauser, expects altcoin ETFs to see cumulative inflows of several hundred million to $1 billion, far less than spot Bitcoin funds.

Sygnum Bank的研究負責人Katalin Tischhauser希望Altcoin ETF看到累計流入數億至10億美元，遠低於現貨比特幣基金。

Funds holding Bitcoin BTCUSD—the first spot cryptocurrency approved for listing in a US ETF wrapper—attracted upward of $100 billion in net assets last year.

持有比特幣BTCUSD的資金是批准在美國ETF包裝紙中列出的第一名加密貨幣，去年淨資產淨資產為1000億美元。

However, ETFs using options and other derivatives to provide structured exposure to cryptocurrencies such as Bitcoin and Ether might see more institutional uptake, analysts said.

但是，分析師說，使用選項和其他衍生物的ETF可以提供對比特幣和以太等加密貨幣的結構性暴露，可能會看到更多的機構吸收。

Options on spot cryptocurrencies unlock numerous potential portfolio strategies for investors and could potentially catalyze “explosive” price upside for digital assets such as Bitcoin, Jeff Park, Bitwise Invest’s head of alpha strategies, said in September.

Bitwise Invest的Alpha Strategies負責人傑夫·帕克（Jeff Park）等數字資產（例如比特幣，傑夫·帕克（Jeff Park））表示，現貨加密貨幣的期權為投資者提供了許多潛在的投資組合策略，並有可能催化“爆炸性”的價格上漲空間。

Options are contracts granting the right to buy or sell an underlying asset at a certain price.

期權是授予以一定價格購買或出售基礎資產的合同。

On April 21, ARK Invest added exposure to staked Solana (SOL) to two of its existing ETFs. The asset manager said it marks the first time spot SOL has been available to US investors in an ETF.

4月21日，方舟投資增加了對其現有ETF中的兩個固定溶劑（SOL）的曝光率。資產經理表示，這是美國ETF投資者首次使用Sot Sol。