iShares 比特幣信託 ETF (IBIT)：深入探討

最近推出的多種加密貨幣 ETF 席捲了投資者的視野，流入這些基金的資金數量也不容忽視。

iShares Bitcoin Trust ETF (NASDAQ:IBIT) provides a unique opportunity for investors to gain exposure to Bitcoin, the world's largest cryptocurrency. With net assets exceeding $18b, IBIT ETF has become a popular choice among those seeking to participate in the crypto market without the hassle of setting up a cryptocurrency wallet. In this article, we will delve into the key aspects of IBIT ETF, exploring its advantages and disadvantages to help investors make an informed decision.

iShares 比特幣信託 ETF（納斯達克股票代碼：IBIT）為投資者提供了投資全球最大加密貨幣比特幣的獨特機會。 IBIT ETF 的淨資產超過 18b 美元，已成為那些尋求參與加密貨幣市場而無需設置加密貨幣錢包的人們的熱門選擇。在本文中，我們將深入探討IBIT ETF的關鍵方面，探討其優點和缺點，以幫助投資者做出明智的決定。

Advantages of IBIT ETF

IBIT ETF的優勢

The primary advantage of IBIT ETF is its ability to offer investors exposure to Bitcoin's price movements without the need to directly purchase, store, or trade the cryptocurrency. This can be particularly beneficial for those who are new to the crypto space or who prefer the convenience and safety of investing through a regulated exchange.

IBIT ETF 的主要優勢是它能夠讓投資者了解比特幣的價格走勢，而無需直接購買、儲存或交易加密貨幣。這對於那些剛接觸加密貨幣領域的人或喜歡透過受監管的交易所進行投資的便利性和安全性的人來說尤其有利。

Moreover, IBIT ETF is managed by BlackRock (NYSE:BLK), the world's largest asset manager. This provides a strong level of credibility and experience in managing large-scale funds. BlackRock's entry into the Bitcoin ETF market is also significant, considering that the firm had previously expressed skepticism towards cryptocurrencies.

此外，IBIT ETF由全球最大的資產管理公司貝萊德（NYSE：BLK）管理。這提供了管理大型基金的強大可信度和經驗。考慮到貝萊德先前曾對加密貨幣表示懷疑，該公司進入比特幣 ETF 市場也意義重大。

Another key aspect to consider is the growth in BlackRock's Bitcoin spot ETF holdings, which surpassed 38000 Bitcoins in early July. This substantial holding is noteworthy, especially considering that BlackRock's total AUM in crypto-related products stood at 24000 Bitcoins at the end of Q1 2024.

另一個需要考慮的關鍵方面是貝萊德比特幣現貨 ETF 持有量的成長，7 月初超過了 38,000 個比特幣。這種大量持有值得注意，特別是考慮到截至 2024 年第一季末，貝萊德在加密相關產品中的總資產管理規模為 24,000 個比特幣。

Disadvantages of IBIT ETF

IBIT ETF 的缺點

While IBIT ETF offers several advantages, there are also a few aspects that investors should be aware of.

雖然 IBIT ETF 具有多種優勢，但投資者也應該注意一些方面。

One potential drawback is the expense fees associated with IBIT ETF, which are not the most competitive in the market. For instance, counterparts from Franklin Templeton, Bitwise, and VanEck offer lower expense ratios.

一個潛在的缺點是與 IBIT ETF 相關的費用，這在市場上並不是最具競爭力的。例如，富蘭克林鄧普頓、Bitwise 和 VanEck 的同行提供較低的費用比率。

Another point to consider is the correlation between IBIT ETF and BTC-USD, which stands at 0.77. While this correlation is strong, it is not perfect, and there may be periods where the ETF's price movements deviate from that of Bitcoin.

另一點需要考慮的是 IBIT ETF 和 BTC-USD 之間的相關性，該相關性為 0.77。雖然這種相關性很強，但並不完美，在某些時期 ETF 的價格走勢可能會偏離比特幣的價格走勢。

Finally, a broader concern with IBIT ETF and cryptocurrencies in general is the lack of fundamentals. Unlike traditional investment instruments such as equities or bonds, which can be evaluated based on metrics like earnings, cash flow, or interest rates, cryptocurrencies like Bitcoin do not possess tangible underlying fundamentals.

最後，對 IBIT ETF 和加密貨幣的更廣泛擔憂是缺乏基本面。與股票或債券等可以根據收益、現金流量或利率等指標進行評估的傳統投資工具不同，比特幣等加密貨幣不具備有形的基本面。

Overall, IBIT ETF provides a convenient and well-known avenue for investors to gain exposure to Bitcoin. However, it is crucial to consider the specific investment goals, risk tolerance, and broader market conditions before making a decision.

總體而言，IBIT ETF 為投資者投資比特幣提供了一個便利且眾所周知的途徑。然而，在做出決定之前，考慮具體的投資目標、風險承受能力和更廣泛的市場條件至關重要。