由於機構需求和網路活動，以太坊 (ETH) 可能突破 5000 美元（7800 澳元）：CryptoQuant

CryptoQuant 發布了一份報告，指出由於機構需求和網路活動，以太坊的 ETH 價格可能會超過 5000 美元（7800 澳元）。

CryptoQuant has released a report stating that institutional demand and network activity could propel Ethereum’s (CRYPTO: ETH) price to over $5,000 this year.

CryptoQuant 發布了一份報告，指出機構需求和網路活動可能會推動以太坊 (CRYPTO: ETH) 的價格今年突破 5,000 美元。

According to the firm, inflows into spot Ethereum exchange-traded funds (ETFs) have “broken records” with over $1.9 billion being poured into the funds in the last 13 days, bringing total net assets to $13.18 billion, as per data from SoSo Value.

據該公司稱，根據 SoSo Value 的數據，流入現貨以太坊交易所交易基金 (ETF) 的資金“打破了記錄”，過去 13 天內流入基金的資金超過 19 億美元，使總淨資產達到 131.8 億美元。

What Happened: Ethereum has also seen increased activity, with total daily transactions averaging between 6.5 and 7.5 million for most of this year, compared to an average of around 5 million per day in 2023.

發生了什麼事：以太坊的活動也有所增加，今年大部分時間平均每日交易總量在 650 至 750 萬筆之間，而 2023 年平均每日交易總量約為 500 萬筆。

“This activity level is a key driver of ETH's scarcity and could contribute to price appreciation,” the report said.

報告指出：“這種活動水平是 ETH 稀缺性的關鍵驅動因素，並可能導致價格上漲。”

Institutions have been flocking to Ethereum ETFs, with Microsoft (NASDAQ:MSFT) also being open to investing in the funds, according to a report by Blockworks.

根據 Blockworks 的報告，機構紛紛湧向以太坊 ETF，微軟（NASDAQ：MSFT）也對投資這些基金持開放態度。

This的消息 comes as a blow to Bitcoin (CRYPTO: BTC) maximalists like Michael Saylor, who have been advocating for apex crypto to be included in these funds.

這一消息對像邁克爾·塞勒這樣的比特幣（加密貨幣：BTC）極端主義者來說是一個打擊，他們一直主張將頂級加密貨幣納入這些基金。

The speculation started after Matthew Sigel, VanEck's head of digital assets research, said on X post that Microsoft might consider investing in an Ethereum ETF if it includes staking features.

VanEck 數位資產研究主管 Matthew Sigel 在 X post 上表示，如果以太坊 ETF 包含質押功能，微軟可能會考慮投資以太坊 ETF，之後引發了這個猜測。

This possibility was suggested following comments by Microsoft CFO Amy Hood during the company's annual shareholder meeting, where the Bitcoin proposal was overwhelmingly rejected (less than one percent of shareholders voted in favor).

微軟財務長艾米·胡德(Amy Hood) 在公司年度股東大會上發表評論後提出了這種可​​能性，會上比特幣提案遭到壓倒性否決（不到1% 的股東投了贊成票） 。

Sounds to me like $MSFT is open to an #ETH ETF as long as they can collect staking income 🤷‍♂️ pic.twitter.com/qtZ2InSZhV

在我看來，$MSFT 對 #ETH ETF 開放，只要他們能收取質押收入🤷‍♂️ pic.twitter.com/qtZ2InSZhV

Hood said that Microsoft has been accepting cryptocurrency payments since 2014 and considers crypto an asset class, but its investment priorities are centered on liquidity, capital preservation and income generation.

胡德表示，微軟自 2014 年以來一直接受加密貨幣支付，並將加密貨幣視為一種資產類別，但其投資重點集中在流動性、資本保值和創收上。

“We have been accepting cryptocurrency as a payment method since 2014. Crypto is an asset class that we follow, but our investment priorities are centered on liquidity, capital preservation and income generation,” Hood said.

「自 2014 年以來，我們一直接受加密貨幣作為支付方式。加密貨幣是我們遵循的一種資產類別，但我們的投資重​​點是流動性、資本保值和創收，」胡德說。

Staking, Ethereum ETFs' Missing Piece: While this sounds promising, it may be more complicated.

質押，以太坊 ETF 的缺失部分：雖然這聽起來很有希望，但它可能會更加複雜。

The Securities and Exchange Commission (SEC) has demanded that Ethereum ETFs exclude staking features due to regulatory and compliance concerns.

出於監管和合規性的考慮，美國證券交易委員會 (SEC) 要求以太坊 ETF 排除質押功能。

Specifically, the SEC views staking services as constituting unregistered securities offerings.

具體來說，美國證券交易委員會將質押服務視為構成未經註冊的證券發行。

This view could change under a new SEC administration, but it would still be complicated for the SEC to allow staking services without a new regulatory framework.

在新的 SEC 管理下，這種觀點可能會改變，但對於 SEC 來說，在沒有新監管框架的情況下允許質押服務仍然會很複雜。

Moreover, current spot Ethereum ETFs process redemptions in 24 hours, while staking often involves lock-up periods.

此外，目前的現貨以太坊 ETF 會在 24 小時內處理贖回，而質押通常會涉及鎖定期。

Integrating staking services into Ethereum ETFs would be a massive advantage.

將質押服務整合到以太坊 ETF 將是一個巨大的優勢。

Analysts say it could significantly lower management fees, making them more attractive to investors by combining income generation with minimal costs.

分析師表示，這可以顯著降低管理費，透過將創收與最低成本結合起來，對投資者更具吸引力。

This move would also enhance Ethereum ETFs’ competitiveness against Bitcoin ETFs, which currently dominate the market.

此舉也將增強以太坊 ETF 相對於目前主導市場的比特幣 ETF 的競爭力。

For instance, Nate Geraci, president of the ETF Store, said that he believes Ethereum ETFs with staking capabilities are a question of “when, not if.”

例如，ETF Store 總裁 Nate Geraci 表示，他認為具有質押功能的以太坊 ETF 只是「何時出現，而不是是否出現」的問題。