新報告發現

Crypto Insight Group報告說，“勢頭”“仍然比[基金]經理在新的特朗普政府所期望的要慢，” Crypto Insight Group報告說。

Fundraising for sophisticated crypto investment vehicles has yet to fully experience the anticipated positive headwind of the Donald Trump presidency, according to a new report by the Crypto Insight Group.

Crypto Insight Group的一份新報告顯示，為複雜的加密投資工具籌款尚未充分體驗唐納德·特朗普（Donald Trump）總統職位的積極逆風。

Momentum "remains positive but slower than [fund] managers anticipated under the new Trump administration," the Hedge Fund Outlook 2Q25 report said.

對沖基金Outlook 2q25報告說，勢頭“仍然比[基金]經理在新的特朗普政府預期的要慢。”

"Net inflows continue, yet the pace lags early-year projections as allocators calibrate risk budgets," it added.

它補充說：“淨流入仍在繼續，但隨著分配者校準風險預算，速度滯後了預測。”

The ostensibly pro-crypto position of the Trump administration brought about optimism across the digital asset industry of bullish momentum thanks to the increased regulatory clarity that was expected in the U.S.

表面上，特朗普政府的親克賴特（Crypto）立場在美國的數字資產行業中帶來了樂觀，這要歸功於美國預期的更加明確

Hopes of some sort of clear regulatory framework by June "may have been a bit optimistic," Laura Vidiella del Blanco, head of investor relations for digital assets at VanEck, said in the report.

報告在報告中說，到6月的某種明確的監管框架“可能有些樂觀”。

"While net new capital continues to flow into private funds, the first few months of 2025 brought a series of surprised that have clearly influenced allocators' sense of urgency around deployment and the speed at which many fund managers expected things to happen," she added.

她補充說：“雖然淨新資本繼續流入私人資金，但2025年的前幾個月引起了一系列驚訝，這顯然影響了分配者對部署的緊迫感以及許多基金經理期望發生的事情的速度。”

Trump giveth and Trump taketh away?

特朗普送去，特朗普拿走了？

Despite the optimism for what a pro-crypto administration in Washington, D.C. could bring, President Trump's unveiling of his aggressive plans for tariffs on imports to the U.S. brought about volatility in financial markets from which crypto suffered as much as any other asset class.

儘管對華盛頓特區的親克萊特多政府可以帶來樂觀，但特朗普總統揭幕了他對進口徵收關稅的積極計劃，在金融市場中引起了加密貨幣與任何其他資產類別的遭受的損失。

Bitcoin fell to a six-month low of around $76,000 in the days after new tariffs initially went into effect early this month. For the crypto community, this may have been a indicator that Trump giveth and Trump taketh away.

在本月初新關稅最初生效後的幾天中，比特幣跌至六個月低約76,000美元。對於加密社區而言，這可能是特朗普和特朗普拿走的指標。

"Trump's tariffs have already unleashed mayhem in global market and destroyed trillions of dollars in value," Chris Solarz, chief investment officer of Amitis Capital, said in the report.

Amitis Capital首席投資官Chris Solarz在報告中說：“特朗普的關稅已經在全球市場上釋放了混亂，並摧毀了數万億美元的價值。”

"His inconsistent and unpredictable rhetoric has shaken investor confidence and raised fears of a full-blown return to 1930s-style protectionism."

“他的不一致和不可預測的言論激起了投資者的信心，並提出了人們對1930年代風格的保護主義的全面返回的擔憂。”

However, the overall sentiment toward the Trump administration from fund managers is "overwhelmingly constructive," based on the report's surveys.

但是，根據該報告的調查，基金經理對特朗普政府的總體情緒是“絕大多數的建設性”。

Over half (52%) of respondents said they expect more positive surprises than expected from policy decisions in the next 12 months, compared to less than 10% saying they expected more negative surprises and about 40% saying decisions would align with their expectations.

超過一半（52％）的受訪者表示，他們期望在未來12個月內對政策決策預期的積極意外，而不到10％的人表示，他們期望的負面意外更多，約有40％的人說決策將與他們的期望保持一致。

Managers expect upside surprises such as clearer token classifications, stablecoin legislation and a credible route to spot market products, the report said.

報告說，經理們期望諸如更清晰的令牌分類，Stablecoin立法和可靠的發現市場產品的途徑等令人驚訝的驚喜。

"Trump's recent geopolitical moves reinforce this view: by underscoring U.S. competitiveness in strategic tech, they are seen as catalysts that could accelerate institutional adoption rather than impede it."

“特朗普最近的地緣政治舉動加劇了這一觀點：通過強調美國在戰略技術方面的競爭力，它們被視為可以加速機構採用而不是阻礙它的催化劑。”

Respondents were fairly evenly split on whether Trump's geopolitical moves would have an effect on institutional adoption of crypto. About 36% said they would delay adoption, compared to about 34% believing they would accelerate adoption and 30% saying they would have no impact.

受訪者在特朗普的地緣政治舉動是否會影響加密的機構採用方面相當平均。大約36％的人表示他們會推遲採用，而大約34％的人認為他們會加速採用，而30％的人說他們不會產生任何影響。