比特币和以太坊 ETF 可能是 2025 年推出的第一批美国加密货币基金

彭博 ETF 分析师 Eric Balchunas 预测，比特币和以太坊交易所交易基金 (ETF) 将成为 2025 年推出的第一支美国加密货币基金

Bloomberg ETF analyst Eric Balchunas predicts that Bitcoin and Ethereum exchange-traded funds (ETFs) will be the first of several U.S. crypto funds launching in 2025.

彭博 ETF 分析师 Eric Balchunas 预测，比特币和以太坊交易所交易基金 (ETF) 将成为 2025 年推出的几只美国加密货币基金中的第一只。

On December 17, Balchunas shared an analysis from fellow ETF analyst James Seyffart. “We expect a wave of cryptocurrency ETFs next year, albeit not all at once,” Balchunas wrote.

12 月 17 日，Balchunas 分享了 ETF 分析师 James Seyffart 的分析。 Balchunas 写道：“我们预计明年会出现一波加密货币 ETF，尽管不是一下子出现。”

We expect a wave of cryptocurrency ETFs next year, albeit not all at once. First out is likely the btc + eth combo ETFs, then prob Litecoin (bc its fork of btc = commodity), then HBAR (bc not labeled security) and then XRP/Solana (which have been labeled securities in pending… pic.twitter.com/29vMdciZxE

我们预计明年将出现一波加密货币 ETF 浪潮，尽管不是一下子出现。首先出现的可能是 btc + eth 组合 ETF，然后是 prob Litecoin（因为它是 btc = 商品的分叉），然后是 HBAR（因为没有标记为证券），然后是 XRP/Solana（已被标记为待定证券……pic.twitter。 com/29vMdciZxE

According to Balchunas and Seyffart, ETFs tracking Litecoin (LTC) or Hedera (HBAR) could follow the Bitcoin and Ether fund. Notably, Seyffart mentioned that the U.S. Securities and Exchange Commission (SEC) previously rejected several Solana ETFs. He also suggested that ETFs for Solana (SOL) and XRP will likely be considered only after President-elect Donald Trump’s chair pick heads the agency.

根据 Balchunas 和 Seyffart 的说法，追踪莱特币 (LTC) 或 Hedera (HBAR) 的 ETF 可以追随比特币和以太基金的脚步。值得注意的是，Seyffart 提到美国证券交易委员会 (SEC) 此前拒绝了几只 Solana ETF。他还表示，只有当选总统唐纳德·特朗普的主席人选领导该机构后，才可能考虑 Solana (SOL) 和 XRP 的 ETF。

Balchunas highlighted that regulators view LTC and HBAR more favorably, which is why he and Seyffart believe these assets could see ETFs approved before larger market-cap assets like XRP and SOL.

Balchunas 强调，监管机构对 LTC 和 HBAR 的看法更为有利，这就是为什么他和 Seyffart 相信这些资产的 ETF 可能会先于 XRP 和 SOL 等市值较大的资产获得批准。

The SEC has classified XRP and SOL as securities, a designation that has led to regulatory challenges for both cryptocurrencies. This classification complicates the approval process for ETFs tied to these assets and could delay their potential launch.

美国证券交易委员会已将 XRP 和 SOL 归类为证券，这一指定给这两种加密货币带来了监管挑战。这种分类使与这些资产相关的 ETF 的审批流程变得复杂，并可能推迟其潜在的推出。

LTC is seen as a stronger candidate for ETF approval due to its status as a Bitcoin fork, which may qualify it as a “commodity.” On the other hand, HBAR has not been categorized as a security by the SEC. This possibly eases the path for an ETF approval compared to other cryptocurrencies facing regulatory hurdles.

LTC 被视为 ETF 批准的更有力候选者，因为它是比特币分叉，这可能使其有资格成为“商品”。另一方面，HBAR 尚未被 SEC 归类为证券。与其他面临监管障碍的加密货币相比，这可能会简化 ETF 的批准之路。

While LTC and HBAR have stronger approval prospects, the analysts noted that it remains uncertain whether there will be significant investor demand for these funds.

虽然 LTC 和 HBAR 的批准前景较好，但分析师指出，投资者对这些基金是否会有大量需求仍不确定。

Many within the crypto community anticipate that the SEC, under the leadership of Paul Atkins, a nominee selected by President-elect Trump, may adopt a more favorable stance toward crypto assets.

加密货币界的许多人预计，在当选总统特朗普提名的保罗·阿特金斯(Paul Atkins)的领导下，美国证券交易委员会可能会对加密资产采取更有利的立场。

Trump stated that Atkins is a strong believer in the potential of dynamic, innovative capital markets that cater to investor needs and drive economic growth to strengthen the U.S. economy.

特朗普表示，阿特金斯坚信充满活力、创新的资本市场具有满足投资者需求并推动经济增长以增强美国经济的潜力。

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

Michaela 没有加密货币仓位，也不持有任何加密资产。本文仅供参考，不应被视为财务建议。 Shib Magazine 和 The Shib Daily 是 Shiba Inu 加密货币项目的官方媒体和出版物。我们鼓励读者在做出任何投资决定之前进行自己的研究并咨询合格的财务顾问。