比特币（BTC）斑点ETF驱动直接加密暴露的机构需求

比特币现场ETF与比特币的价格行动的成功促使投资者需要直接访问或从其服务提供商那里获得加密货币。

The success of bitcoin spot ETFs combined with bitcoin’s price action have driven investors to demand direct access or exposure to crypto from their service providers. Institutional investors and traditional financial services providers now have a responsibility to at the minimum learn about crypto, if not actively look into adoption.

比特币现场ETF与比特币的价格行动的成功促使投资者需要直接访问或从其服务提供商那里获得加密货币。机构投资者和传统金融服务提供商现在有责任最少了解加密货币，即使不是积极考虑采用。

The spotlight now is increasingly on the wealth advisory segment, with BlackRock’s Head of Digital Assets recently telling Bloomberg that the asset manager is starting to see more wealth advisory activity in crypto. At Binance, our VIP & institutional business has likewise received increased interest from high-net-worth individuals and their wealth managers, who have told us they are taking a medium to long-term view as they look to incorporate crypto into their portfolios.

现在，关注的焦点越来越在财富咨询部门上，贝莱德（Blackrock）的数字资产负责人最近告诉彭博社，资产经理开始在加密货币（Crypto）看到更多的财富咨询活动。在Binance时，我们的VIP和机构业务也同样受到了高净值个人及其财富管理人员的兴趣，他们告诉我们，他们希望将加密货币纳入其投资组合中，他们正在长期观察中。

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While the cryptocurrency industry has experienced tremendous growth, the vast majority of institutional capital, of which the private wealth segment makes up a significant portion, has yet to enter the space. There are several reasons why including a lack of understanding of the technology, regulatory uncertainty and concerns about volatility. Above all, private wealth is a traditional segment with its own nuances and high-touch requirements, while crypto can demand a good amount of heavy lifting with respect to due diligence, given the sector’s nascency.

尽管加密货币行业经历了巨大的增长，但绝大多数机构资本（其中私人财富部分都占很大一部分）尚未进入该空间。有几个原因是为什么缺乏对技术的了解，监管不确定性和对波动性的担忧。最重要的是，私人财富是一个具有自己的细微差别和高触摸要求的传统细分市场，而加密货币则可以在尽职调查的情况下进行大量繁重的举重。

High-touch requirements and the DYOR ethos

高点要求和染料精神

Crypto is the first asset class to be developed by a distributed community and one that’s made us rethink our financial systems. Traditional market participants have increasingly bought into bitcoin because they recognize the impact of crypto and how its core ideas of trustlessness, transparency and proof-of-reserves have the potential for new efficiencies and value.

加密是第一个由分布式社区开发的资产类，也是使我们重新考虑金融系统的资产类别。传统的市场参与者越来越多地购买比特币，因为他们认识到加密货币的影响以及其无信任，透明度和居住的核心思想如何具有新的效率和价值的潜力。

But unlike traditional assets that have long been institutionalized, securitized and packaged into off-the-shelf products, the foundational pillars of crypto are still being built. This means crypto has a long way to go with institutionalization and eventual consolidation with the structures of traditional finance. Depending on an investor’s risk profile and investment time horizon, this can represent new opportunities.

但是，与长期以来一直被制度化，证券化并包装到现成产品中的传统资产不同，加密货币的基础支柱仍在建造。这意味着加密与传统金融结构的制度化和最终合并有很长的路要走。根据投资者的风险概况和投资时间范围，这可以代表新的机会。

For private wealth investors who have accepted the volatility of crypto, the DYOR (Do Your Own Research) ethos nonetheless has become a recurring pain point. These investors and their wealth managers have expressed to us their strong interest in crypto, but have found the learning process challenging. To help them unlock access, we have to provide an experience that is similar to that found in traditional finance.

对于接受加密货币波动的私人财富投资者而言，染料（做自己的研究）的精神已经成为一个经常性的疼痛点。这些投资者及其财富管理人员向我们表示对加密货币的浓厚兴趣，但发现学习过程具有挑战性。为了帮助他们解锁访问权限，我们必须提供与传统金融中相似的经验。

Private wealth clients are used to high-touch service throughout the lifecycle of their wealth management needs, supported by their wealth bankers and financial advisors in everything from onboarding to investment recommendations. The crypto industry needs exchange infrastructure solutions for wealth managers to support their high-net-worth investors (HNWI). More must be done to activate this segment, and the success of the crypto ETFs launched last year illustrates that product-market fit is key to meeting the pent up demand.

私人财富客户在其财富管理需求的整个生命周期中都习惯于高调服务，并得到财富银行家和财务顾问的支持，从入职，投资建议到投资建议。加密行业需要为财富管理人员提供交换基础设施解决方案，以支持其高净值投资者（HNWI）。要激活这一细分市场，必须做更多的事情，去年推出的加密ETF的成功表明，产品市场拟合是满足需求需求的关键。

Besides educating investors about crypto, our industry must develop products that are tailored to the needs of HWNIs and family offices to make the onboarding process simpler. Bitwise’s latest survey of financial advisors indicates interest in crypto from the wealth advisory segment is set to increase, but access remains a major blocker. Products that bridge crypto with traditional finance will help engage and unlock private wealth, further legitimizing the asset class.

除了向投资者提供有关加密货币的教育外，我们的行业还必须开发针对HWNIS和家庭办公室需求量身定制的产品，以使入职过程更简单。 BITWISE对财务顾问的最新调查表明，从财富咨询部门对加密货币的兴趣将增加，但访问仍然是主要阻碍者。将加密货币与传统金融桥接的产品将有助于参与并解锁私人财富，从而进一步使资产类别合法化。