Bitwise 预测随着机构拥抱加密货币，将有数万亿美元通过 ETF 流入比特币

Bitwise 首席投资官 Matthew Hougan 表示，随着机构投资者逐渐接受加密货币，预计他们将通过交易所交易基金 (ETF) 向比特币 (BTC) 注入高达 1 万亿美元。

Bitwise Predicts Trillion-Dollar Institutional Inflow into Bitcoin via ETFs

Bitwise 预测机构将通过 ETF 流入比特币

In a comprehensive memo to investment professionals, Bitwise Chief Investment Officer Matthew Hougan has outlined a compelling case for the future of Bitcoin (BTC), emphasizing the pivotal role of exchange-traded funds (ETFs) in attracting institutional capital.

在给投资专业人士的一份综合备忘录中，Bitwise 首席投资官 Matthew Hougan 为比特币 (BTC) 的未来概述了一个令人信服的案例，强调了交易所交易基金 (ETF) 在吸引机构资本方面的关键作用。

ETF Revolution Unlocking Institutional Interest

ETF革命释放机构利益

Hougan anticipates a staggering $1 trillion influx into Bitcoin through ETFs as institutional investors embrace cryptocurrencies. The recent approvals of spot Bitcoin ETFs in January have marked a watershed moment, opening up the asset class to a broader investor base.

Hougan 预计，随着机构投资者拥抱加密货币，将有 1 万亿美元通过 ETF 流入比特币。最近在一月份批准的现货比特币 ETF 标志着一个分水岭，向更广泛的投资者群体开放了该资产类别。

Long-Term Outlook Trumps Short-Term Volatility

长期前景胜过短期波动

Acknowledging the short-term price volatility that characterizes Bitcoin, Hougan urges a long-term perspective, dismissing it as a transient phenomenon. He highlights a series of upcoming events, including the Bitcoin halving and the potential approval of spot Bitcoin ETFs on major platforms like Morgan Stanley and Wells Fargo, as catalysts for sustained growth.

霍根承认比特币的特点是短期价格波动，因此他主张从长远角度看待，并将其视为一种短暂现象。他强调了一系列即将发生的事件，包括比特币减半以及摩根士丹利和富国银行等主要平台可能批准现货比特币 ETF，作为持续增长的催化剂。

Due Diligence Delaying Institutional Commitments

尽职调查延迟了机构承诺

Hougan emphasizes that investment committees and consultants are meticulously conducting due diligence on Bitcoin, a necessary step before formal investments can be made. This process, he notes, takes time, and institutional inflows will materialize gradually.

Hougan 强调，投资委员会和顾问正在认真地对比特币进行尽职调查，这是进行正式投资之前的必要步骤。他指出，这个过程需要时间，机构资金流入将逐渐实现。

Bull Market Raging, Supported by Strong Fundamentals

牛市汹涌，基本面支撑强劲

Despite the current price fluctuations, Hougan maintains an unwavering belief in Bitcoin's long-term bull market status. Supported by a nearly 300% surge in the past 15 months, he cites compelling reasons for this optimism to continue.

尽管当前价格波动，Hougan仍对比特币的长期牛市地位保持坚定不移的信念。在过去 15 个月近 300% 的飙升的支撑下，他列举了令人信服的理由来维持这种乐观情绪。

Trillion-Dollar Inflow Potential from Wealth Managers

财富管理机构带来数万亿美元的流入潜力

Hougan believes that the $12 billion invested in Bitcoin ETFs since their inception is merely a down payment. Once global wealth managers begin allocating even 1% of their portfolios to Bitcoin, it would translate into a $1 trillion inflow into the space.

Hougan 认为，自比特币 ETF 成立以来投资的 120 亿美元只是首付。一旦全球财富管理机构开始将其投资组合的 1% 分配给比特币，这将意味着 1 万亿美元流入该领域。

Patience and Long-Term Perspective Crucial

耐心和长远眼光至关重要

Hougan acknowledges the potential for short-term price swings as sentiment shifts. However, he counsels patience, emphasizing that Bitcoin's long-term trajectory remains bullish. He urges investors to "keep calm and take the long view," recognizing that the onboarding of professional investors is a gradual process that will take years to fully materialize.

霍根承认，随着情绪的变化，价格可能会出现短期波动。不过，他建议保持耐心，并强调比特币的长期轨迹仍然看涨。他敦促投资者“保持冷静，着眼长远”，并认识到专业投资者的加入是一个渐进的过程，需要数年时间才能完全实现。