唐納德·川普 2024 年連任引發加密貨幣牛市

唐納德·川普 (Donald Trump) 於 2024 年 11 月當選，在他作為支持加密貨幣領袖的聲譽的推動下，引發了加密貨幣牛市。

Donald Trump’s return to the White House in November 2024 sparked a cryptocurrency bull run, thanks to his pro-crypto stance. His campaign promises, like setting up a strategic Bitcoin reserve for the U.S. and launching his own meme coin on January 17, fueled the optimism.

由於支持加密貨幣的立場，唐納德·川普 (Donald Trump) 於 2024 年 11 月重返白宮，引發了加密貨幣牛市。他的競選承諾，例如為美國建立戰略性比特幣儲備，以及於 1 月 17 日推出自己的迷因幣，都加劇了樂觀情緒。

However, Trump’s inaugural address and initial executive orders had no mention of cryptocurrency, leaving investors guessing about his specific policies. But despite this, the market enthusiasm remained strong, with both retail and institutional players driving the rally.

然而，川普的就職演說和最初的行政命令都沒有提及加密貨幣，這讓投資人對他的具體政策產生了猜測。但儘管如此，市場熱情依然強勁，散戶和機構參與者都推動了漲勢。

Institutions, usually more conservative in their approach, showed surprising enthusiasm for the ongoing excitement. A recent Securities and Exchange Commission (SEC) filing on January 21 revealed plans by REX Shares and Osprey Funds to launch seven new cryptocurrency exchange-traded funds (ETFs).

機構通常在做法上較為保守，但對持續的興奮表現出令人驚訝的熱情。最近，美國證券交易委員會 (SEC) 於 1 月 21 日提交的文件顯示，REX Shares 和 Osprey Funds 計劃推出七隻新的加密貨幣交易所交易基金 (ETF)。

Of these, two ETFs are particularly noteworthy and unprecedented in the market: ones based on Dogecoin (DOGE) and Trump’s meme coin (TRUMP). Along with the meme coin ETFs, the filing also outlines plans for Bitcoin, Ethereum (ETH), Solana (SOL), and XRP ETFs.

其中，有兩款 ETF 特別值得注意且在市場上前所未有：基於狗狗幣 (DOGE) 和川普模因幣 (TRUMP) 的 ETF。除了 Meme 幣 ETF 之外，該文件還概述了比特幣、以太幣 (ETH)、Solana (SOL) 和 XRP ETF 的計劃。

According to analyst James Seyffart, these funds will be filed under the 1940 Act, similar to the crypto futures ETFs. This structure allows the ETFs to include a mix of derivatives and direct asset holdings, managed through a Cayman Islands-based subsidiary.

分析師 James Seyffart 表示，這些基金將根據 1940 年法案進行備案，類似於加密貨幣期貨 ETF。這種結構允許 ETF 包含衍生性商品和直接資產持有的組合，並透過位於開曼群島的子公司進行管理。

While the introduction of meme coin ETFs is a first for the market, it raises questions about how these funds will navigate the extreme volatility inherent in meme-based assets. Large-cap cryptocurrency ETFs have historically attracted significant inflows, but whether these new offerings can capture similar interest—or fit within the risk tolerance of most investors—remains to be seen.

雖然 Meme 幣 ETF 的推出在市場上尚屬首次，但它引發了人們的疑問：這些基金將如何應對基於 Meme 的資產固有的極端波動性。大型加密貨幣 ETF 歷來吸引了大量資金流入，但這些新產品是否能夠吸引類似的興趣，或者是否符合大多數投資者的風險承受能力，仍有待觀察。