贝莱德的以太坊 ETF：比特币主导地位中的未来不确定

尽管成功推出了现货比特币 ETF，但贝莱德对现货以太坊 ETF 的追求仍面临挑战，因为与比特币相比，客户需求有限。贝莱德数字资产负责人罗伯特·米奇尼克承认，对以太坊的需求“非常非常少”，这引发了对该公司未来在这一领域的努力的质疑。

BlackRock's Ethereum ETF Application: Uncertain Future Amidst Client Preference for Bitcoin

贝莱德的以太坊 ETF 申请：客户对比特币的偏好中未来不确定

In the wake of its successful launch of the spot Bitcoin exchange-traded fund (ETF) in January 2024, BlackRock, the world's largest asset manager, has been actively pursuing an application for a spot Ethereum ETF. However, the firm's recent statements suggest that it may reconsider its efforts due to "little" demand for Ethereum among its clients compared to Bitcoin.

继2024年1月成功推出现货比特币交易所交易基金（ETF）后，全球最大的资产管理公司贝莱德一直在积极寻求现货以太坊ETF的申请。然而，该公司最近的声明表明，由于与比特币相比，其客户对以太坊的需求“很少”，因此它可能会重新考虑其努力。

During a fireside chat at the Friday Bitcoin Investor Day conference in New York, Robert Mitchnick, BlackRock's head of digital assets, highlighted that the firm's client base is primarily focused on Bitcoin. "I can say that for our client base, bitcoin is overwhelmingly the number one focus and a little bit Ethereum," he noted. He further stated that the demand for all other crypto assets is "very, very little."

周五在纽约举行的比特币投资者日会议上的炉边谈话中，贝莱德数字资产主管罗伯特·米奇尼克强调，该公司的客户群主要集中在比特币上。 “我可以说，对于我们的客户群来说，比特币绝对是第一关注点，还有一点以太坊，”他指出。他进一步表示，对所有其他加密资产的需求“非常非常少”。

Notably, Mitchnick did not provide any definitive comments on whether BlackRock will continue to pursue Ethereum ETF approval. Last week, BlackRock appointed Matt Kunk, Digital Assets Product Strategist, to lead the company's efforts on iShares digital assets ETFs.

值得注意的是，米奇尼克没有就贝莱德是否会继续寻求以太坊 ETF 批准提供任何明确评论。上周，贝莱德任命数字资产产品策略师 Matt Kunk 领导该公司在 iShares 数字资产 ETF 方面的工作。

Industry observers have expressed contrasting opinions on BlackRock's position. Some speculate that the company may be downplaying the demand for Ethereum because it does not yet have an ETH ETF product to offer. Others argue that the low demand for Ethereum at present could indicate significant potential for growth.

行业观察家对贝莱德的立场表达了不同的看法。一些人猜测该公司可能会淡化对以太坊的需求，因为它尚未提供 ETH ETF 产品。其他人则认为，目前对以太坊的低需求可能表明其巨大的增长潜力。

Despite the uncertainty surrounding BlackRock's Ethereum ETF application, the US Securities and Exchange Commission (SEC) has postponed its decision to May 2024. Meanwhile, there have been ongoing discussions that BlackRock may pursue ETFs for other digital assets. However, Mitchnick clarified that the company's primary focus is not on offering a wide range of such products.

尽管贝莱德的以太坊 ETF 申请存在不确定性，但美国证券交易委员会 (SEC) 已将其决定推迟到 2024 年 5 月。与此同时，有关贝莱德可能寻求其他数字资产 ETF 的讨论仍在继续。然而，米奇尼克澄清说，公司的主要重点不是提供广泛的此类产品。

Meanwhile, BlackRock continues to explore the digital asset industry. The asset manager recently announced the launch of its BUIDL stablecoin on the Ethereum blockchain as part of its tokenization efforts.

与此同时，贝莱德继续探索数字资产行业。该资产管理公司最近宣布在以太坊区块链上推出 BUIDL 稳定币，作为其代币化工作的一部分。

Speculation of Security Tag for Ethereum Raises Concerns

以太坊安全标签的猜测引发担忧

Amidst these developments, there have been rumors within the industry that the US SEC may consider classifying Ethereum as a security, similar to its treatment of XRP. This could further reduce the chances of an Ethereum ETF being approved by the securities regulator.

在这些事态发展中，业内有传言称，美国 SEC 可能会考虑将以太坊归类为证券，类似于对待 XRP 的方式。这可能会进一步降低以太坊 ETF 获得证券监管机构批准的机会。

Alex Thorn, head of firmwide research at Galaxy Digital, suggests that if the SEC is investigating crypto firms' interactions with the Ethereum Foundation, it could indicate scrutiny into whether the original Ethereum initial coin offering (ICO) in 2014 was an unregistered securities offering. However, Thorn also notes that taking enforcement action against the Ethereum Foundation nearly a decade later would be "highly unusual."

Galaxy Digital 全公司研究主管 Alex Thorn 表示，如果 SEC 正在调查加密公司与以太坊基金会的互动，这可能表明正在审查 2014 年最初的以太坊首次代币发行 (ICO) 是否是未经注册的证券发行。然而，索恩还指出，近十年后对以太坊基金会采取执法行动将是“极不寻常的”。

Notwithstanding these concerns, crypto industry players such as Coinbase have expressed support for Ethereum, arguing that the CFTC and SEC cannot hold different views on the asset class.

尽管存在这些担忧，Coinbase 等加密行业参与者仍表达了对以太坊的支持，认为 CFTC 和 SEC 不能对该资产类别持有不同的看法。

The future of BlackRock's Ethereum ETF application remains uncertain, contingent on factors such as client demand, regulatory decisions, and the industry's overall sentiment towards Ethereum.

贝莱德以太坊 ETF 申请的未来仍不确定，具体取决于客户需求、监管决策以及行业对以太坊的整体情绪等因素。