以太坊交換基金（ETF）的景觀正在發生地震轉變

這一發展具有徹底改變以太坊ETF市場的潛力，吸引了新的投資者，並為現有持有人釋放了可觀的價值。

The landscape of Ethereum exchange-traded funds (ETFs) is undergoing a seismic shift, with the prospect of these funds being able to stake the cryptocurrency gaining significant momentum.

以太坊交換基金（ETF）的景觀正在發生地震轉變，這些資金的前景能夠將加密貨幣帶來顯著的勢頭。

A confluence of events, including a global investment management giant's vocal advocacy for staking's potential and a U.S. exchange's filing on behalf of a renowned digital asset firm's ether ETF, signals a growing consensus that yield-generating staking could soon become a reality for these investment vehicles.

事件的融合，包括全球投資管理巨頭對Stataking的潛力的聲音倡導以及代表一家著名的數字資產公司的Ether ETEF提交的美國交易所提交的文件，這表明越來越多的共識表明，產生產生的Staking可能很快就會成為這些投資工具的現實。

This development holds the potential to revolutionize the Ethereum ETF market, attracting a new wave of investors and unlocking substantial value for existing holders. The ability to earn yield through staking, a process that involves locking up Ethereum tokens to support the network and validate transactions, would significantly enhance the appeal of these ETFs, bridging the gap between traditional investment vehicles and the burgeoning world of decentralized finance (DeFi).

這一發展具有徹底改變以太坊ETF市場的潛力，吸引了新的投資者，並為現有持有人釋放了可觀的價值。通過Staking賺取收益的能力，該過程涉及鎖定以太坊代幣以支持網絡並驗證交易，這將大大提高這些ETF的吸引力，從而彌合傳統投資工具與新興的分散財務世界（DEFI）之間的差距。

BlackRock's Endorsement: A Catalyst for Change

貝萊德的認可：變革的催化劑

Among those who have spoken out in favor of staking for Ethereum ETFs is investment management giant BlackRock (BLK).

投資管理巨頭貝萊德（BLK），在那些支持以太坊ETF的人中表示讚賞的人中。

During a recent digital assets conference, Robert Mitchnick, the company's Head of Digital Assets, highlighted the potential benefits of allowing ETF issuers to simultaneously stake Ethereum, noting that it could generate "added demand" for the cryptocurrency.

在最近的數字資產會議上，該公司數字資產負責人羅伯特·米奇尼克（Robert Mitchnick）強調了允許ETF發行人同時利用以太坊的潛在好處，並指出它可以為加密貨幣產生“增加需求”。

Mitchnick's remarks highlight the growing recognition that staking yield is a "meaningful part" of generating investment returns in the Ethereum space. He also pointed out that the initial launch of Ethereum ETFs in July 2024, operating within the regulatory constraints of the time, did not include staking.

米奇尼克（Mitchnick）的言論強調了越來越多的認識，即放養產量是在以太坊領域產生投資回報的“有意義的部分”。他還指出，2024年7月在當時的監管限制內運行的以太坊ETF的最初發射不包括股權。

"We're not able to participate in the yield opportunities that are presented in crypto markets today, such as staking, liquidity provision, or yield enhancement strategies," Mitchnick explained.

米奇尼克解釋說：“我們無法參與當今加密市場中提供的收益機會，例如積分，流動性提供或增強策略。”

He further stated that while the existing generation of ETFs is focused on providing broad market exposure, the next generation of ETFs will offer more specialized investment opportunities within the cryptocurrency market.

他進一步指出，儘管現有的ETF側重於提供廣泛的市場敞口，但下一代ETF將在加密貨幣市場中提供更多專業的投資機會。

"We believe that the next generation of products will offer more specialized exposures and factor-based strategies, and we're actively exploring opportunities to launch new types of ETFs that cater to the evolving needs of investors."

“我們認為，下一代產品將提供更多的專業風險和基於因素的策略，我們正在積極探索推出新型的ETF的機會，以滿足投資者不斷發展的需求。”

NYSE Arca Files for Bitwise Ether ETF to Stake Ethereum

NYSE ARCA檔案for Bitwise EthET ETF以利用以太坊

In a move that brings the prospect of staking for Ethereum ETFs closer to reality, NYSE Arca has filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC).

為了使以太坊ETF的潛在客戶更接近現實，紐約證券交易所ARCA已向美國證券交易委員會（SEC）提出了擬議的規則更改。

If approved, this proposal would permit Bitwise's ether ETF to earn yield from staking Ethereum. The filing follows similar proposals from other ETF issuers, including Grayscale, 21Shares, and Fidelity.

如果獲得批准，該提案將允許Bitwise的Ether ETF從堆放以太坊中賺取收益。該文件遵循其他ETF發行人的類似建議，包括灰度，21shares和Fidelity。

"This proposal seeks to create a new category of Section 12(b)(1) Trust covered ETFs that may, subject to limitations and conditions, engage in staking activity in accordance with the terms of the Trust's investment mandate and applicable law," stated NYSE Arca in its proposal.

NYSE ARCA在其提案中說：“該提案旨在創建第12（b）（1）條的新類別涵蓋的ETF，但可能會受到限制和條件的影響，根據信託基金的投資授權和適用法律的條款進行積分活動。”

"The Commission may grant the proposal if it finds that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Exchange Act, and that it is otherwise appropriate in furtherance of the purposes of the Exchange Act."

“如果委員會發現擬議的規則更改與《交換法》第15A（b）（6）條的規定一致，並且委員會可以批准該提案，並且為了促進《交換法》的目的，則否則是適當的。”

The proposed rule change would allow Bitwise's ether ETF to participate in the staking process, locking up its ether holdings to validate transactions on the Ethereum network and earning rewards for this service. This would enhance the ETF's appeal to investors seeking yield-generating opportunities in the cryptocurrency market.

擬議的規則更改將使Bitwise的Ether ETF能夠參與放入過程，鎖定其以太持有量以驗證以太坊網絡上的交易並為此服務獲得獎勵。這將增強ETF對尋求加密貨幣市場中產生產生機會的投資者的吸引力。

The proposal outlines the types of staking activity that the ether ETF may undertake, emphasizing that it must be consistent with the ETF's investment mandate and legal obligations.

該提案概述了Ether ETF可能從事的放電活動類型，強調必須與ETF的投資授權和法律義務一致。

"The Trust will not engage in any staking activity unless and until (i) such activity is permitted by applicable U.S. federal securities law and (ii) the Trust determines that it can undertake such activity in a manner that complies with applicable law and the Trust's obligations as a fiduciary and otherwise in the best interest of the Trust's unitholders," stated NYSE Arca.

“除非和（i）適用的美國聯邦證券法允許此類活動，否則該信託不會從事任何積累活動，並且（ii）信託決定它可以以符合適用的律師和信託作為受託人的義務，否則以信託的最大利益而從事此類活動，” NYSE ARCA。”

Shift in Regulatory Landscape: From Antagonism to Acceptance

監管景觀的轉變：從對抗到接受

The prospect of staking for Ethereum ETFs marks a significant shift in the regulatory landscape. Last year, under the leadership of Gary Gensler, the SEC adopted a more antagonistic stance towards cryptocurrencies, and the possibility of allowing staking for Ethereum ETFs seemed bleak.

以太坊ETF的賭注的前景標誌著監管景觀的重大轉變。去年，在加里·貢斯勒（Gary Gensler）的領導下，SEC對加密貨幣採取了更具對立的立場，允許允許以太坊ETF隊率的可能性似乎是黯淡的。

However, with a more crypto-friendly government in place, the consensus appears to be that ETFs could soon be allowed to stake. This shift in regulatory sentiment is likely to accelerate the adoption of cryptocurrencies and foster innovation in the digital asset space.

但是，有了一個更加加密友好的政府，共識似乎很快就可以允許ETF持有。監管情緒的這種轉變很可能會加速採用加密貨幣並促進數字資產領域的創新。

The SEC's potential approval of the proposed rule changes would signal a significant step towards regulatory clarity and acceptance of staking as a legitimate activity for Ethereum ETFs. This would create a more level playing field for these investment vehicles, allowing them to compete with other yield-generating opportunities in the cryptocurrency market.

SEC對擬議規則更改的潛在批准將指出朝著調節性清晰度和接受作為以太坊ETF的合法活動的重要一步。這將為這些投資工具創造一個更高的競爭環境，使他們能夠與加密貨幣市場中的其他產生機會競爭。

"The Commission notes that, in recent years, there has been growing interest in investing in digital assets, and the SEC has taken steps to facilitate this

“委員會指出，近年來，人們對投資數字資產的興趣越來越多，而SEC已採取措施來促進這一措施