加密貨幣 ETF 的崛起如何重塑金融格局

全球投資者開始意識到金融和科技領域的潮流正在改變。雖然傳統市場仍然以幾十年前的做法為主，但加密貨幣交易所交易基金(ETF) 的引入和增長，如CoinShares Valkyrie 比特幣和以太策略ETF (BTF)，正在開闢一條通往相互融合的未來的道路傳統資產與數位創新。

Fresh from the recent U.S. election results, the cryptocurrency market is abuzz with optimism over potential regulatory changes. Both bitcoin and ether have seen notable price increases, energizing the market, especially among crypto investors. Among these developments, the CoinShares Valkyrie Bitcoin and Ether Strategy ETF (BTF) has garnered attention with its dynamic chart action, as analyzed on platforms like YCharts.

從最近的美國大選結果來看，加密貨幣市場對潛在的監管變化充滿了樂觀。比特幣和以太幣的價格均顯著上漲，為市場注入活力，尤其是在加密貨幣投資者中。在這些發展中，CoinShares Valkyrie 比特幣和以太策略 ETF (BTF) 因其動態圖表行為而受到關注，如 YCharts 等平台上的分析所示。

BTF recently marked three years since its inception in 2021, having gathered assets under management (AUM) amounting to $43 million. The actively managed ETF employs a unique strategy by investing in bitcoin and ether futures, along with a diversified portfolio including Treasuries, corporate bonds, and cash, rather than direct investments in cryptocurrencies.

BTF 自 2021 年成立以來，最近已滿三週年，管理資產 (AUM) 已達 4,300 萬美元。該主動管理型ETF採用獨特的策略，投資比特幣和以太幣期貨，以及包括國債、公司債和現金在內的多元化投資組合，而不是直接投資加密貨幣。

This fund leverages front-month futures contracts through its Cayman Islands subsidiary, providing a level of exposure to digital currencies before the advent of spot ETFs. Advisors and investors curious about cryptocurrencies may view BTF as a viable entry point, especially for those who are interested but hesitant to dive fully into the crypto waters.

該基金透過其開曼群島子公司利用近月期貨合約，在現貨 ETF 出現之前提供一定程度的數位貨幣風險。對加密貨幣感到好奇的顧問和投資者可能會將 BTF 視為一個可行的切入點，特別是對於有興趣但又猶豫是否要完全投入加密領域的人來說。

Recently, BTF’s price has shown a strong climb, surpassing its 200- and 50-day simple moving averages, suggesting strong momentum. This upward trajectory, paired with a striking 34.8% return over the past month and an 87% increase over the year, presents an enticing option for those eager to explore the crypto realm.

最近，BTF 的價格強勁攀升，超過了 200 日和 50 日簡單移動平均線，顯示勢頭強勁。這種上升軌跡，加上過去一個月驚人的 34.8% 回報率和全年 87% 的增長，為那些渴望探索加密領域的人提供了一個誘人的選擇。

Stay informed on the latest developments by visiting our Crypto Channel for extensive news and analysis.

請造訪我們的加密貨幣頻道以獲取廣泛的新聞和分析，以了解最新動態。

How the Rise of Crypto ETFs is Reshaping the Financial LandscapeInvestors around the globe are beginning to recognize a shifting tide in the realms of finance and technology. While traditional markets continue to be dominated by decades-old practices, the introduction and growth of cryptocurrency exchange-traded funds (ETFs), like the CoinShares Valkyrie Bitcoin and Ether Strategy ETF (BTF), are forging a path toward an interconnected future that merges conventional assets with digital innovations.

加密貨幣 ETF 的興起如何重塑金融格局全球投資者開始意識到金融和科技領域的潮流正在轉變。雖然傳統市場仍然以幾十年前的做法為主，但加密貨幣交易所交易基金(ETF) 的引入和增長，如CoinShares Valkyrie 比特幣和以太策略ETF (BTF)，正在開闢一條通往相互融合的未來的道路傳統資產與數位創新。

Breaking Down the Crypto ETF PhenomenonCrypto ETFs, which are investment funds that trade on stock exchanges much like regular stocks, offer the chance to invest in a diversified portfolio without buying cryptocurrencies directly. This is becoming increasingly attractive for individuals and organizations averse to the risks associated with direct crypto investments. While the BTF fund, for instance, doesn’t invest directly in crypto, it leverages futures contracts to provide exposure to bitcoin and ether, thus representing a significant bridge between traditional investments and digital assets.

打破加密 ETF 現象加密 ETF 是一種在證券交易所交易的投資基金，就像普通股票一樣，提供了投資多元化投資組合的機會，而無需直接購買加密貨幣。對於厭惡直接加密投資相關風險的個人和組織來說，這變得越來越有吸引力。例如，雖然 BTF 基金並未直接投資於加密貨幣，但它利用期貨合約來提供比特幣和以太幣的曝險，代表了傳統投資和數位資產之間的重要橋樑。

Implications for Investors and EconomiesAdvantages:

對投資者和經濟體的影響優點：

1. Risk Management: By investing in crypto futures and a mix of other assets like bonds and cash, ETFs such as BTF allow investors to mitigate direct exposure risk to volatile digital currencies.

1. 風險管理：透過投資加密貨幣期貨以及債券和現金等其他資產的組合，BTF 等 ETF 可以讓投資者減輕對波動性數位貨幣的直接暴露風險。

2. Market Accessibility: Crypto ETFs democratize access to the world of digital currencies, allowing even hesitant investors to partake without an extensive knowledge of blockchain technology.

2. 市場可及性：加密貨幣 ETF 使進入數位貨幣世界變得民主化，即使是猶豫不決的投資者也可以在沒有廣泛了解區塊鏈技術的情況下參與其中。

3. Regulatory Benefits: Given the structured nature of ETFs, these financial products are often seen as more secure and transparent compared to direct crypto investments.

3. 監理優勢：鑑於 ETF 的結構化性質，與直接加密投資相比，這些金融產品通常被視為更安全和透明。

Disadvantages:

缺點：

1. Indirect Ownership: Investors aren’t buying the actual cryptocurrencies, which means they miss out on potential profits from price changes in the spot market.

1. 間接所有權：投資者沒有購買實際的加密貨幣，這意味著他們錯過了現貨市場價格變化的潛在利潤。

2. Complex Structures: The use of derivative contracts can be complex and may not fully capture the potential gains of direct crypto investing.

2. 複雜的結構：衍生性商品合約的使用可能很複雜，並且可能無法完全捕捉直接加密貨幣投資的潛在收益。

3. Regulatory Risks: Although currently positioned as a regulatory safety net, unforeseen changes in financial regulations could challenge the integrity of crypto ETFs.

3. 監管風險：儘管目前被定位為監管安全網，但金融監管中不可預見的變化可能會挑戰加密貨幣 ETF 的完整性。

Impact on Local and Global CommunitiesCrypto ETFs have the potential to influence both local and global financial ecosystems in several ways. For local investors, they provide an avenue to access global markets and diversify portfolios beyond geographical confines. Globally, the rise of such funds could encourage cross-border financial activity, fostering a more interconnected economic landscape.

對本地和全球社區的影響加密 ETF 有可能以多種方式影響本地和全球金融生態系統。對於本地投資者來說，它們提供了進入全球市場並超越地域限制實現投資組合多元化的途徑。在全球範圍內，此類基金的興起可能會鼓勵跨國金融活動，從而培養更相互關聯的經濟格局。

However, questions linger about the environmental impact of cryptocurrencies, including the energy-intensive processes involved in mining bitcoins and ether. As more countries consider green energy policies, the role of crypto ETFs in promoting digital currencies raises interesting debates regarding sustainability.

然而，關於加密貨幣對環境影響的問題仍然存在，包括開採比特幣和以太幣所涉及的能源密集過程。隨著越來越多的國家考慮綠色能源政策，加密貨幣 ETF 在推廣數位貨幣方面的作用引發了有關永續性的有趣爭論。

What’s Next for Crypto ETFs?As the market continues to evolve, will crypto ETFs take a predominant role in shaping investment strategies? Are they merely a stepping stone toward full-fledged acceptance of cryptocurrencies in institutional finance? Investors and policymakers alike need to contemplate the future trajectory.

加密貨幣 ETF 的下一步是什麼？它們只是機構金融領域全面接受加密貨幣的墊腳石嗎？投資者和政策制定者都需要思考未來的軌跡。

Ultimately, as more traditional financial institutions and countries recognize these digital assets’ value, the role of crypto ETFs is poised to expand, influencing regulations and potentially paving the way for other innovative products.

最終，隨著越來越多的傳統金融機構和國家認識到這些數位資產的價值，加密貨幣 ETF 的角色必將擴大，影響監管並可能為其他創新產品鋪平道路。

For further details about cryptocurrency developments and finance news, visit CoinShares or Valkyrie. These platforms provide additional resources and insights into the ongoing integration of crypto technologies within the financial sector.

有關加密貨幣發展和財經新聞的更多詳細信息，請訪問 CoinShares 或 Valkyrie。這些平台為加密技術在金融領域的持續整合提供了額外的資源和見解。