以太坊 ETF 會獲得比特幣的成功嗎？ SEC 調查提出質疑

富達投資管理著 4.5 兆美元的龐大投資組合，已向美國證券交易委員會 (SEC) 申請設立以太坊現貨交易所交易基金 (ETF)。繼比特幣 ETF 最近取得成功之後，富達與幾家知名公司一起推出以太坊產品。該 ETF 旨在為投資者提供直接接觸以太坊市場的機會，同時結合質押功能。然而，由於潛在的法律挑戰和市場波動，以太坊 ETF 的批准路徑仍然不確定。

Will Ethereum ETFs Fare as Well as Their Bitcoin Counterparts?

以太幣 ETF 的表現會和比特幣 ETF 一樣嗎？

Could Staking Capabilities Sway the SEC?

質押能力能否影響 SEC？

Fidelity Investments, a behemoth with $4.5 trillion under management, has thrown its hat into the crypto ring by filing paperwork with the Securities and Exchange Commission (SEC) for a spot Ethereum exchange-traded fund (ETF). Hot on the heels of the success of Bitcoin ETFs, industry watchers have been eagerly awaiting a similar offering for Ethereum from heavyweights like Fidelity.

管理 4.5 兆美元資產的巨頭富達投資公司 (Fidelity Investments) 向美國證券交易委員會 (SEC) 提交了以太坊現貨交易所交易基金 (ETF) 的文件，正式進軍加密貨幣領域。繼比特幣 ETF 的成功之後，產業觀察家一直在熱切地等待 Fidelity 等重量級公司推出類似的以太坊產品。

A Rocky Road Ahead for Ethereum ETFs?

以太坊 ETF 的前路坎坷？

While the triumph of Bitcoin ETFs has paved the way for wider institutional adoption of digital assets, the path to an Ethereum ETF is less clear. The SEC has reportedly launched an investigation that could potentially impact Ethereum's classification as a security, throwing a spanner in the approval process.

雖然比特幣 ETF 的成功為機構更廣泛地採用數位資產鋪平了道路，但以太坊 ETF 的發展之路還不太清晰。據報道，美國證券交易委員會發起了一項調查，可能會影響以太坊作為證券的分類，從而阻礙審批過程。

Diminished Optimism Weighs on Approval Prospects

樂觀情緒減弱影響批准前景

Market conditions have also taken a turn, with crypto market maker GSR slashing its estimate of a spot Ether ETF approval in May from 75% in January to a mere 20%. This suggests that the once-rosy outlook for Ethereum ETFs may have faded somewhat.

市場狀況也發生了轉變，加密貨幣做市商 GSR 將其對 5 月以太坊現貨 ETF 批准率的預估從 1 月的 75% 大幅下調至僅 20%。這顯示以太坊 ETF 一度樂觀的前景可能已經褪色。

Obstacles Loom over Ethereum ETF Approval

以太坊 ETF 核准面臨障礙

The SEC's ongoing investigation and the shifting market dynamics cast doubt on the timeline for Ethereum ETF approval. While Fidelity's filing demonstrates the growing demand for crypto ETFs, it remains to be seen whether Ethereum will join Bitcoin in gaining regulatory acceptance. The SEC's scrutiny of Ethereum's security status will undoubtedly play a pivotal role in determining its fate.

美國證券交易委員會正在進行的調查和不斷變化的市場動態使人們對以太坊 ETF 批准的時間表產生了疑問。儘管富達的文件表明對加密 ETF 的需求不斷增長，但以太坊是否會加入比特幣獲得監管機構認可的行列還有待觀察。 SEC對以太坊安全狀況的審查無疑將在決定其命運方面發揮關鍵作用。