一波機構採用的新一波通過比特幣生態系統席捲

領導早期SBTC採用者的指控是行業重量級UTXO管理，SNZ和Jump Crypto

A new wave of institutional adoption is sweeping through the Bitcoin ecosystem as Stacks, a prominent Bitcoin Layer 2 solution, celebrates the rapid uptake of its decentralized, Bitcoin-backed asset, sBTC.

作為一個著名的比特幣第2層解決方案堆棧的機構採用浪潮正在通過比特幣生態系統席捲，慶祝了其分散的，比特幣支持的資產SBTC的快速吸收。

Among the early sBTC adopters are UTXO Management, SNZ, and Jump Crypto. UTXO Management, known for its venture arm's support of top Bitcoin companies and liquid fund 210k Capital, has included sBTC in its broader Bitcoin strategy, deploying capital across public and private markets.

早期的SBTC採用者包括UTXO管理，SNZ和Jump Crypto。 UTXO管理以其風險投資對頂級比特幣公司和Liquid Fund 210k Capital的支持而聞名，已將SBTC包括在其更廣泛的比特幣戰略中，在公共和私人市場中部署了資本。

Jump Crypto, a division of Jump Trading Group, brings its expertise as a quantitative trading firm and infrastructure builder to bear in the crypto space.

Jump Crypto是Jump Trading Group的一個部門，它將其作為定量貿易公司和基礎設施建設者的專業知識置於加密貨幣領域。

SNZ, a crypto-native investment firm with a presence in Hong Kong, Singapore, and the US, continues its support for Bitcoin innovation, having been an early investor in Stacks and other public blockchains in Asia.

SNZ是一家加密本地投資公司，在香港，新加坡和美國擁有業務，繼續對比特幣創新的支持，他是亞洲堆棧和其他公共區塊鏈的早期投資者。

Other notable participants include CMS Holdings, an active investor in Bitcoin scaling ventures; RootstockLabs, a pioneer behind the Rootstock sidechain; Sypher Capital, focused on generating native Bitcoin yield; and Asymmetric Research, a security partner to major protocols like Solana and Wormhole.

其他值得注意的參與者包括CMS Holdings，這是一個活躍的比特幣規模投資者； rootstocklabs，rootstock sidechain背後的先驅； Sypher Capital，專注於產生本地比特幣產量；以及不對稱研究，是Solana和蟲洞等主要協議的安全合作夥伴。

Together, these institutions highlight the broad appeal of sBTC to diverse members of the crypto community, from traders and investors to technical developers and security researchers.

這些機構共同強調了SBTC對加密社區的不同成員的廣泛吸引力，從交易者和投資者到技術開發人員和安全研究人員。

Rising enthusiasm for sBTC

SBTC的熱情不斷提高

Launched on the Stacks mainnet in December 2024, sBTC has quickly become a key player in the tokenized Bitcoin space, enabling programmable smart contracts and transactions secured by Bitcoin's robust infrastructure.

SBTC於2024年12月在Mainnet上推出，SBTC迅速成為標記比特幣領域的關鍵參與者，從而實現了可編程的智能合約和由比特幣強大的基礎架構確保的可編程智能合約和交易。

The enthusiasm for sBTC was evident from the start, with its initial capacity cap filled by a roster of influential depositors, prompting a second cap raise that tripled availability on February 25th.

SBTC的熱情從一開始就顯而易見，其最初的容量上限由有影響力的存款人填充，這促使第二次上限提高了2月25日的三倍。

Remarkably, this expanded capacity was fully subscribed in less than 24 hours, showcasing surging demand from institutions, wealth managers, builders, and retail investors.

值得注意的是，這種擴展的產能在不到24小時的時間內得到了充分的認可，這表明了機構，財富管理人員，建築商和零售投資者的需求激增。

Among the standout sBTC use cases driving this momentum is Zest, a fast-growing application that has already captured nearly 40% of the sBTC within the protocol, highlighting the asset's immediate usability and appeal.

在驅動此勢頭的傑出SBTC用例中，Zest是一個快速增長的應用程序，已經在協議中捕獲了近40％的SBTC，突出了資產的直接可用性和吸引力。

For Bitcoin enthusiasts, sBTC represents a bridge between the cryptocurrency's unparalleled security and the dynamic possibilities of decentralized finance (DeFi).

對於比特幣愛好者，SBTC代表了加密貨幣無與倫比的安全性與分散融資的動態可能性之間的橋樑（DEFI）。

Unlike traditional staking or locking of Bitcoin on its base layer, sBTC activates capital by enabling a wide range of financial applications, such as yield generation, lending, and decentralized exchanges.

與傳統的比特幣在基礎層上鎖定或鎖定比特幣不同，SBTC通過實現廣泛的財務應用（例如產量產生，貸款和分散交易所）來激活資本。

Alex Miller, CEO of Hiro, a developer tooling company within the Stacks ecosystem, emphasized the growing adoption of sBTC provides essential liquidity for developers building and scaling applications.

堆棧生態系統中開發人員工具公司Hiro的首席執行官Alex Miller強調，SBTC的採用日益增長為開發人員的建設和擴展應用提供了必不可少的流動性。

"We're seeing a natural progression as DeFi institutions and institutions in broader financial markets recognize the potential of sBTC," Miller said.

米勒說：“我們認為自然的進步是在更廣泛的金融市場中的挑戰機構和機構認識到SBTC的潛力。”

Notably, the rise of sBTC comes amid a broader surge in Bitcoin Layers, which have seen their total value locked (TVL) increase by over 460% in the past year.

值得注意的是，SBTC的興起是在比特幣層的激增中出現的，在過去的一年中，其總價值鎖定（TVL）增加了460％以上。

CoinGecko data shows that TVL in Bitcoin Layers rose from approximately $500 million in 2024 to $2.8 billion by February 2025.

Coingecko數據顯示，比特幣層的TVL從2024年的約5億美元增加到2025年2月的28億美元。

This growth reflects a growing recognition among Bitcoin (BTC) holders that Layer 2 solutions like Stacks can enhance functionality without compromising the core principles of security and decentralization.

這種增長反映了比特幣（BTC）持有人的認識日益認識，即堆棧等第2層解決方案可以增強功能性，而不會損害安全性和權力下放的核心原則。

With tokenized Bitcoin assets now accounting for 1.67% of BTC's circulating supply, the highest level since October 2022, sBTC is poised to play a central role in this evolving narrative.

現在，由於標記比特幣資產佔BTC循環供應量的1.67％，這是2022年10月以來的最高水平，因此SBTC準備在這種不斷發展的敘述中發揮核心作用。

Looking ahead, Stacks is preparing to roll out withdrawal functionality for sBTC in March 2025, a milestone that will further solidify its utility.

展望未來，Stacks準備在2025年3月推出SBTC的撤回功能，這是一個將進一步鞏固其實用程序的里程碑。

As the leading Bitcoin Layer 2 by developer traction and market cap, Stacks is driving a movement to transform Bitcoin's $1 trillion in passive capital into a fully programmable, productive asset.

作為開發人員牽引力和市值的領先比特幣第2層，堆棧正在推動將比特幣的1萬億美元被動資本轉變為完全可編程的生產資產的運動。

With support from top staking providers, custodians, and ecosystems like Solana and Aptos, sBTC is not just connecting Bitcoin to DeFi—it's paving the way for a future where all roads in crypto lead back to Bitcoin.

在索拉納（Solana）和Aptos（例如Solana and Aptos）（例如Solana and Aptos）等頂級股份提供商，保管人和生態系統的支持下，SBTC不僅將比特幣連接到Defi，還為未來的未來鋪平了道路，在這種情況下，加密貨幣的所有道路都帶回了比特幣。