比特币 ETF 管理资产规模超过黄金 ETF，标志着市场发生历史性转变

对于加密货币和传统投资市场来说，这是一个具有里程碑意义的发展，美国的比特币交易所交易基金（ETF）在管理资产（AUM）方面已经超过了黄金 ETF。

A recent development in the United States financial markets has seen Bitcoin Exchange-Traded Funds (ETFs) surpass Gold ETFs in terms of assets under management (AUM). This shift marks a significant turning point in the growing acceptance of Bitcoin and other digital assets as legitimate investment vehicles, signaling a broader change in investor sentiment toward cryptocurrencies.

美国金融市场最近的发展表明，比特币交易所交易基金 (ETF) 在管理资产 (AUM) 方面超过了黄金 ETF。这一转变标志着人们越来越接受比特币和其他数字资产作为合法投资工具的一个重大转折点，标志着投资者对加密货币的情绪发生了更广泛的变化。

Bitcoin ETFs, which allow investors to gain exposure to Bitcoin without directly holding the cryptocurrency, have gained substantial traction in recent years. The launch of Bitcoin futures ETFs in 2021, followed by the approval of the first Bitcoin spot ETF in 2023, played a crucial role in expanding the availability of Bitcoin investment products in traditional financial markets. These ETFs provide an easy and regulated way for institutional and retail investors alike to participate in Bitcoin’s price movements, making it an attractive option for those seeking exposure to the digital asset.

比特币 ETF 允许投资者在不直接持有加密货币的情况下获得比特币敞口，近年来获得了巨大的关注。 2021 年比特币期货 ETF 的推出，以及 2023 年首只比特币现货 ETF 的批准，为扩大传统金融市场中比特币投资产品的可用性发挥了至关重要的作用。这些 ETF 为机构和散户投资者提供了一种简单且受监管的方式来参与比特币的价格变动，使其成为那些寻求数字资产投资的人的有吸引力的选择。

As Bitcoin’s price surged to new highs and more investment products became available, the demand for Bitcoin ETFs continued to grow. In particular, institutional investors, looking to diversify their portfolios and hedge against inflation, have increasingly embraced Bitcoin as a store of value. This has been a key factor in the explosive growth of Bitcoin ETFs, which now collectively hold more assets than their gold counterparts.

随着比特币价格飙升至新高以及更多投资产品的出现，对比特币ETF的需求持续增长。特别是，机构投资者为了实现投资组合多元化和对冲通胀，越来越多地接受比特币作为价值储存手段。这是比特币 ETF 爆炸性增长的一个关键因素，目前比特币 ETF 持有的资产总量比黄金 ETF 还要多。

Gold has traditionally been viewed as a safe haven asset and a store of value, especially during times of economic uncertainty. For decades, Gold ETFs have been a popular choice for investors seeking to hedge against inflation and global market volatility. Gold ETFs have been one of the largest and most established types of commodity ETFs, with billions of dollars in assets under management.

黄金传统上被视为避险资产和价值储存手段，尤其是在经济不确定时期。几十年来，黄金ETF一直是寻求对冲通胀和全球市场波动的投资者的热门选择。黄金ETF是规模最大、最成熟的商品ETF类型之一，管理着数十亿美元的资产。

However, in recent years, Bitcoin has garnered increasing interest as an alternative to gold, particularly among younger investors and those with a higher risk tolerance. Bitcoin’s decentralized nature, capped supply, and potential for high returns have positioned it as a digital version of gold, often referred to as “digital gold.” As institutional investors and large funds poured capital into Bitcoin ETFs, the gap between the assets held in Bitcoin ETFs and Gold ETFs narrowed, eventually surpassing the gold market.

然而，近年来，比特币作为黄金的替代品越来越受到人们的关注，特别是在年轻投资者和风险承受能力较高的投资者中。比特币的去中心化性质、供应上限和高回报潜力使其成为黄金的数字版本，通常被称为“数字黄金”。随着机构投资者和大型基金向比特币ETF注入资金，比特币ETF和黄金ETF持有的资产差距缩小，最终超越黄金市场。

According to recent reports, Bitcoin ETFs now hold over $60 billion in assets, surpassing Gold ETFs which are valued at just under $50 billion. This marks a historic shift in the market, highlighting Bitcoin’s growing prominence and the increasing demand for cryptocurrency-based investment products.

根据最近的报告，比特币 ETF 目前持有超过 600 亿美元的资产，超过了价值略低于 500 亿美元的黄金 ETF。这标志着市场的历史性转变，凸显了比特币的日益突出以及对基于加密货币的投资产品不断增长的需求。

The surpassing of Gold ETFs by Bitcoin ETFs in assets under management showcases the growing acceptance of Bitcoin and other digital assets in traditional financial markets. This shift, driven largely by the institutional adoption of cryptocurrencies, signals a brighter future for cryptocurrencies and could pave the way for further integration of crypto assets into broader investment strategies.

比特币ETF在管理资产方面超越黄金ETF，表明传统金融市场对比特币和其他数字资产的接受度不断提高。这种转变主要是由加密货币的机构采用推动的，标志着加密货币的光明未来，并可能为加密资产进一步整合到更广泛的投资策略中铺平道路。