比特币 ETF 推动增长，20 万美元的预测势头强劲

由于机构投资者需求不断增长，美国比特币 ETF 现货持有总量目前已接近 1100 亿美元

The total United States-based spot Bitcoin ETF holdings now stand at nearly $110 billion, an all-time high accounting for more than 5.7% of the circulating supply, in an accumulation attributed to growing institutional investors’ demand.

美国现货比特币 ETF 持有量目前接近 1100 亿美元，创历史新高，占流通供应量的 5.7% 以上，这一积累归因于机构投资者需求的不断增长。

The spot Bitcoin ETFs in the U.S. grew exponentially during 2024, when Bitcoin soared past the price of $100,000. As per Dune Analytics, the present ETFs require an additional $2.2 billion to touch the $110 billion mark.

2024 年，美国现货比特币 ETF 呈指数级增长，比特币价格飙升至 10 万美元以上。根据 Dune Analytics 的数据，现有 ETF 需要额外 22 亿美元才能达到 1100 亿美元大关。

BlackRock, being the world’s largest asset manager, continues to lead the Bitcoin ETF market with its iShares Bitcoin Trust ETF. The fund currently holds more than 542,000 BTC, valued at $51.5 billion, which is 47.9% of the market share of U.S.-based Bitcoin ETFs. That makes BlackRock’s ETF the 34th largest in the world across both cryptocurrency and traditional finance markets, according to ETF Database.

作为全球最大的资产管理公司，贝莱德凭借其 iShares 比特币信托 ETF 继续引领比特币 ETF 市场。该基金目前持有超过54.2万枚比特币，价值515亿美元，占美国比特币ETF市场份额的47.9%。根据 ETF 数据库的数据，这使得贝莱德的 ETF 在加密货币和传统金融市场上名列全球第 34 位。

These ETFs have been instrumental in Bitcoin’s surge, especially at its peak of $100,000. For instance, U.S. spot ETFs accounted for about 75% of new Bitcoin investments that pushed the price past $50,000 by mid-February 2024.

这些 ETF 在比特币的飙升中发挥了重要作用，尤其是在其 10 万美元的峰值时。例如，美国现货 ETF 约占新比特币投资的 75%，到 2024 年 2 月中旬，比特币价格已突破 50,000 美元。

Some analysts are optimistic about its further growth, predicting as much as $200,000 in 2025. According to Ryan Lee, chief analyst at Bitget Research, BlackRock’s ETF will make access easier for institutional investors and thus catalyze wider adoption and significant price appreciation.

一些分析师对其进一步增长持乐观态度，预计 2025 年将达到 20 万美元。 Bitget Research 首席分析师 Ryan Lee 表示，贝莱德的 ETF 将使机构投资者更容易参与，从而促进更广泛的采用和价格大幅上涨。

“Long-term projections suggest sustained growth, with some forecasts placing Bitcoin’s value at $200,000 by 2025.”

“长期预测表明比特币将持续增长，一些预测到 2025 年比特币的价值将达到 20 万美元。”

However, Lee also noted that while the $200,000 projection is plausible, it ultimately depends on regulatory clarity, market condition, and global economic trend.

不过，Lee 还指出，虽然 20 万美元的预测是合理的，但它最终取决于监管的清晰度、市场状况和全球经济趋势。

The current price is hovering around the psychological level of $100,000, with heavy resistance at $97,600 and $99,000. According to data provided by CoinGlass, a continuation above $99,000 may induce the liquidation of over $1 billion worth of leveraged short positions, which could allow for a more confident rally.

目前价格徘徊在10万美元心理关口附近，阻力位在97,600美元和99,000美元。根据 CoinGlass 提供的数据，如果价格持续高于 99,000 美元，可能会导致价值超过 10 亿美元的杠杆空头头寸被清算，这可能会让反弹更有信心。

While institutional investments in Bitcoin ETFs continue unabated, their impact on the cryptocurrency market has become increasingly evident. At the forefront of this institutional adoption is BlackRock’s massive entry into the Bitcoin ETF scene. With over $10 billion in ETF holdings, the asset management giant's involvement in the cryptocurrency space is now undeniable. As Bitcoin continues to gain mainstream acceptance, and with the ETF being a key channel for institutional participation, this development bodes well for the long-term trajectory of crypto in mainstream finance.

尽管机构对比特币 ETF 的投资继续有增无减，但它们对加密货币市场的影响也越来越明显。处于这一机构采用前沿的是贝莱德大规模进入比特币 ETF 领域。凭借超过 100 亿美元的 ETF 持有量，这家资产管理巨头对加密货币领域的参与现在是不可否认的。随着比特币继续获得主流接受，并且 ETF 成为机构参与的关键渠道，这一发展预示着加密货币在主流金融领域的长期发展轨迹。

Whether Bitcoin will ultimately reach that ambitious $200,000 target in 2025 is anyone’s guess. Still, its trajectory does reflect the increasingly confident stances institutional players are taking on the cryptocurrency’s long-term potential.

比特币最终是否会在 2025 年达到 20 万美元的雄心勃勃的目标，谁也说不准。尽管如此，它的发展轨迹确实反映出机构参与者对加密货币的长期潜力越来越有信心。