投资者关注监管，比特币（BTC）等待特朗普的监管

比特币和加密资产在价格大幅上涨后在投资者投资组合中很受欢迎。今年，比特币创下了两个历史新高

Bitcoin and crypto assets have seen increasing popularity among investors following the recent price surge and record highs. This year, Bitcoin has set two new all-time highs, following the approval of spot ETFs in January and Donald Trump's victory in the U.S. presidential election.

在近期价格飙升并创下历史新高之后，比特币和加密资产越来越受到投资者的欢迎。继1月份现货ETF获得批准以及唐纳德·特朗普在美国总统大选中获胜之后，今年比特币创下了两个历史新高。

Bullish price highs and institutional inflows have driven retail adoption, turning attention to a key issue.

看涨的价格高点和机构资金流入推动了散户的采用，将注意力转向了一个关键问题。

Investors’ Gaze Turns to Regulation

投资者的目光转向监管

A new institutional survey by CoinShares shows that regulation is a major factor limiting a larger influx of investors. The survey included participants covering a total of around $900 billion in assets under management (AUM). According to the report, concerns over the United States' leanings have held back some in the space.

CoinShares 的一项新机构调查显示，监管是限制投资者大量涌入的主要因素。该调查涵盖的参与者管理资产总额 (AUM) 总计约 9,000 亿美元。报告称，对美国倾向的担忧阻碍了该领域的一些发展。

Over 30% of participants said that regulation prevents them from investing more, while 19% cited frequent market volatility. Other factors included corporate restrictions, reputational risk, and custody. Many of these factors, as the report suggests, could be addressed following a Trump victory.

超过 30% 的参与者表示，监管阻碍了他们进行更多投资，而 19% 的参与者则表示市场波动频繁。其他因素包括公司限制、声誉风险和托管。正如报告所暗示的，其中许多因素可以在特朗普获胜后得到解决。

This analysis from wealth managers comes despite the approval of spot Bitcoin ETFs in January, which brought an additional layer of legitimacy to the asset class. Now, following the election, regulation has taken center stage, with market participants hoping to shift the narrative.

尽管现货比特币 ETF 在 1 月份获得批准，为该资产类别增添了一层额外的合法性，但财富管理机构还是做出了上述分析。现在，选举之后，监管已成为焦点，市场参与者希望改变这种说法。

“For those investors who already have invested, regulation and political concerns remain stubbornly at the top of investor concerns despite the significant strides made in regulatory approval of Bitcoin and Ethereum ETPs,” CoinShares wrote. “Investors seem much less concerned with protocol design and hash power concentration.”

CoinShares 写道：“对于那些已经投资的投资者来说，尽管监管部门对比特币和以太坊 ETP 的批准取得了重大进展，但监管和政治问题仍然是投资者最关心的问题。” “投资者似乎不太关心协议设计和算力集中度。”

Markets Await Trump’s Crypto Regulations

市场等待特朗普的加密货币法规

In the lead-up to the election, former U.S. President Donald Trump touched on key issues, including Bitcoin regulation and the administration's approach to the asset. At the 2024 Bitcoin Conference, Trump hinted at a strategic reserve, pledging to end the government's war on Bitcoin.

在选举前夕，美国前总统唐纳德·特朗普谈到了关键问题，包括比特币监管和政府对该资产的态度。在 2024 年比特币大会上，特朗普暗示要建立战略储备，承诺结束政府对比特币的战争。

The current administration has been largely hostile to the market, with regulators filing several lawsuits against crypto firms. This dampened market sentiment and bullish continuation on price charts.

现任政府在很大程度上对市场抱有敌意，监管机构对加密货币公司提起了几起诉讼。这抑制了市场情绪和价格图表上的看涨持续。

However, market experts have tipped a Republican victory to usher in a range of pro-crypto regulations, covering asset listings, custody, and taxation. The Markets in Crypto Assets (MiCA) regulation was a landmark legislation in the EU, and pro-market observers are hoping for a similar law in the United States.

然而，市场专家预计共和党的胜利将带来一系列支持加密货币的监管，包括资产上市、托管和税收。加密资产市场（MiCA）监管是欧盟的一项里程碑式立法，支持市场的观察人士希望美国也能出台类似的法律。

The survey also highlighted Bitcoin's increasing popularity within the ecosystem, which is attracting new users. While price surges contribute to this, macro factors like inflation have also pushed BTC to new all-time highs.

该调查还强调了比特币在生态系统中越来越受欢迎，这正在吸引新用户。虽然价格飙升促成了这一点，但通胀等宏观因素也将比特币推至历史新高。