比特幣交易所貿易資金的出現為傳統投資者打開了進入加密貨幣行業的閘門

自從第一個位於比特幣交易所交易的資金上線以來，已經一年多了，他們的出現為傳統投資者打開了閘門，以便將其堆入加密貨幣行業

It's now been just over a year since the first spot Bitcoin exchange-traded funds went live, and their emergence finally opened the floodgates for traditional investors to pile into the crypto industry like never before.

自從第一個席位比特幣交易所交易的資金上線以來，現在已經一年多了，他們的出現終於為傳統投資者打開了閘門，使傳統投資者像以前從未像現在這樣堆積進入加密貨幣行業。

The first spot Bitcoin ETFs began trading in January 2024, and they emerged after a lengthy period of anticipation. They were also viewed as a major moment for the broader digital asset industry.

第一個位置比特幣ETF開始於2024年1月進行交易，在很長一段時間的期待之後，它們出現了。他們也被視為更廣泛的數字資產行業的主要時刻。

This is because they enabled traditional investors, who were previously very cautious about digital assets, to enter the crypto market for the first time.

這是因為他們使以前對數字資產非常謹慎的傳統投資者能夠首次進入加密市場。

They’re also credited with fuelling the astonishing gains in Bitcoin’s value over the last year, sending it beyond the $100,000 barrier for the first time.

他們還認為，去年，比特幣價值的驚人收益促進了首次超過100,000美元的障礙。

More Accessible Than Ever Before

比以往任何時候都更容易

Perhaps the biggest single impact of the first Bitcoin ETFs was making it much easier for traditional investors to gain exposure to the world’s most popular crypto asset.

也許第一個比特幣ETF的最大唯一影響是使傳統投資者更容易獲得世界上最受歡迎的加密資產的曝光率。

Before the ETFs, the only way to buy Bitcoin was to create an account at an exchange or purchase it privately from an individual. That also meant creating a crypto wallet and putting up with the hassles of securing it, which is a step too far for cautious investors.

在ETF之前，購買比特幣的唯一方法是在交易所創建一個帳戶或從個人私下購買帳戶。這也意味著要製作一個加密錢包，並忍受確保它的麻煩，這對謹慎的投資者來說太遠了。

Conversely, ETFs allow investors to buy BTC through a traditional brokerage, just as they would acquire stocks and shares or commodities. By easing access this way, ETFs won over thousands of investors, who poured billions of dollars into these new funds. It wasn’t just institutional investors who were showing interest; many retail investors displayed enthusiasm, too.

相反，ETF允許投資者通過傳統經紀公司購買BTC，就像他們將獲取股票，股票或商品一樣。通過這種方式，ETF贏得了成千上萬的投資者，他們向這些新資金投入了數十億美元。不僅僅是表現出興趣的機構投資者；許多零售投資者也表現出熱情。

The most popular Bitcoin ETF by far is BlackRock’s iShares Bitcoin Trust, which has amassed a stunning $37 billion net inflow.

到目前為止，最受歡迎的比特幣ETF是貝萊德的iShares比特幣信託基金，它積累了370億美元的淨流入。

As of early March 2025, it controls more than $52 billion in net assets, surpassing the $33 billion held in the 20-year-old iShares gold ETF and not far off of the $75 million held in the world’s largest gold ETF, the SPDR Gold Shares.

截至2025年3月初，它控制了超過520億美元的淨資產，超過了20歲的Ishares Gold ETF中持有的330億美元，並且與世界上最大的黃金ETF（SPDR Gold Shares）持有的7500萬美元相距不遠。

The crypto exchange GRVT astutely points out in a recent blog post that the growth of Bitcoin ETFs far outpaced that of the first gold ETFs during their first year of trading. When they launched in 2024, the gold ETFs accumulated just $3.45 billion in capital in the first 12 months,

加密交易所GRVT在最近的博客文章中敏銳地指出，比特幣ETF的增長遠遠超過了交易第一年的第一年黃金ETF。當他們在2024年推出時，黃金ETF在頭12個月內僅積累了34.5億美元的資本

A Stunning Price Impact

驚人的價格影響

Although it’s always challenging to understand what’s driving Bitcoin’s price action, most analysts agree that the ETFs were one of the major factors powering the token’s incredible gains over the last year. As the ETF operators began bulk-buying Bitcoin to support these new funds, BTC rapidly became more scarce, and its price shot up to record-breaking levels.

儘管了解什麼是驅動比特幣的價格行動總是很具有挑戰性的，但大多數分析師都同意，ETF是去年為代幣令人難以置信的收益提供動力的主要因素之一。隨著ETF運營商開始批量購買比特幣以支持這些新基金，BTC迅速變得更加稀缺，其價格達到了創紀錄的水平。

On January 10, when the U.S. Securities and Exchange Commission announced it had approved the first Bitcoin ETFs, BTC was priced at just $46,000. The price then dipped below $40,000, only to recover and surge to a new record of just over $73,000 by the middle of March.

1月10日，當美國證券交易委員會宣布批准了第一批比特幣ETF時，BTC的價格僅為46,000美元。然後，價格低於40,000美元，直到3月中旬才能恢復和湧現到73,000美元以上的新記錄。

Other factors, such as the much-vaunted “Bitcoin halving”, have also been credited with the surging price of Bitcoin, as it slowed the pace at which new Bitcoins are minted by the “miners” that power its decentralized network. With fewer new coins entering circulation and the soaring demand created by the ETFs, Bitcoin’s price increased.

其他因素，例如備受競爭的“比特幣減半”，也因比特幣的價格上漲而歸功於它的速度，因為它減慢了新的比特幣被其分散網絡的“礦工”鑄造的新比特幣的速度。隨著進入流通的新硬幣和ETF產生的飆升需求，比特幣的價格上漲。

Further impetus came after Donald Trump’s November U.S. election victory, with his promise of a friendlier attitude to crypto sending the market into overdrive. Bitcoin rapidly soared to over $100,000 in November, hitting a record of $109,114 on January 20.

在唐納德·特朗普（Donald Trump）11月的美國大選勝利之後，他對加密貨幣的態度更加友好地將市場推向了超速行駛之後，進一步推動了推動力。比特幣在11月迅速飆升至100,000美元以上，在1月20日達到了109,114美元的記錄。

More Crypto ETFs On The Way

途中更多的加密ETF

Bitcoin EFTs were widely seen as a big success, and it was only a matter of time before the SEC was asked to approve additional products for rival cryptocurrencies such as Ethereum.

比特幣EFT被廣泛認為是巨大的成功，這只是時間問題，要求SEC批准其他產品以競爭以太坊等競爭對手的加密貨幣。

Late last year, we saw the arrival of the first spot ether ETF, which gives investors similarly easy exposure to ETH. Many more are on the table, such as the first Solana and hybrid BTC/ETH ETFs.

去年年底，我們看到了第一位Ether ETF的到來，這使投資者同樣容易接觸ETH。桌子上還有更多的東西，例如第一個Solana和Hybrid BTC/ETH ETF。

The Trump administration is likely to relax crypto’s regulatory rules even further, and many believe we’ll see many more crypto ETFs emerge in the coming months, such as XRP, Cardano, Hedera, and Litecoin. Trump’s recent announcement that he wants to create a “strategic reserve” that includes several tokens only adds fuel to the fire, increasing demand for such products.

特朗普政府可能會進一步放鬆加密的監管規則，許多人認為，在接下來的幾個月中，我們會看到更多的加密ETF出現，例如XRP，Cardano，Hedera和Litecoin。特朗普最近宣布他想創建一個“戰略儲備”，其中包括幾個令牌只會增加火災的燃料，從而增加了對這種產品的需求。

Crypto Goes Mainstream

加密成為主流

The incredible success of the first Bitcoin ETFs adds to the growing consensus that crypto is no longer some kind of speculative asset but rather a viable, mainstream investment with just as much potential as some of the hottest tech stocks available on the public markets today.

第一個比特幣ETF的成功增加了加密不再是某種投機資產的共識，而是可行的主流投資，其潛力與當今公共市場上一些最熱門的技術股票一樣多。

This potential, along with the fact that ETFs make

這種潛力，以及ETF的事實