BlackRock将其BTC ETF（Ishares Bitcoin Trust（IBIT））纳入其模型组合中

当比特币ETF面临一系列资本外流时，贝莱德通过合并其BTC ETF采取了违反直觉的方法，iShares比特币信托（IBIT）

As Bitcoin ETFs continue to face capital outflows, BlackRock is taking a counterintuitive approach by incorporating its BTC ETF, the iShares Bitcoin Trust (IBIT), into its model portfolios. A first for the asset management giant, which could spark a domino effect among its competitors. But what exactly is this strategy encompassing?

随着比特币ETF继续面对资本流出，贝莱德通过将其BTC ETF（ISHARES BITCOIN TRUST（IBIT））纳入其模型投资组合中，采取了违反直觉的方法。资产管理巨头的第一个可能会激发其竞争对手之间的多米诺骨牌效应。但是，这种策略到底是什么？

A Measured Yet Symbolic Breakthrough on Bitcoin ETFs

比特币ETF的测量但象征性的突破

With over $10 trillion in assets under management, BlackRock's choice of Bitcoin is no coincidence. IBIT's model, valued at $48 billion and holding nearly 576,046 BTC, is now entering its model portfolios, with an allocation of 1 to 2%.

由于管理的资产超过100万亿美元，贝莱德对比特币的选择绝非易事。 IBIT的车型价值为480亿美元，持有近576,046 BTC，现在正在进入其模型投资组合，分配为1％至2％。

While this share may appear modest, it sends a strong signal to the market. According to James Seyffart, an ETF analyst at Bloomberg Intelligence, this decision could encourage other asset managers to follow suit. But the main question remains: will IBIT ever become part of BlackRock's main models? Some view it as a revolution, while others see it as a simple experiment. What's your take on this?

尽管此份额可能显得适中，但它向市场传达了强烈的信号。彭博情报公司ETF分析师詹姆斯·塞弗特（James Seyffart）表示，这一决定可以鼓励其他资产经理效仿。但是主要的问题仍然存在：伊比特会成为贝莱德主要模型的一部分吗？有些人将其视为一场革命，而另一些人则将其视为一个简单的实验。您对此有何看法？

BlackRock: A Strategic Game of Chess in the Crypto Market

贝莱德：加密货币市场中国际象棋的战略游戏

BlackRock's initiative goes beyond the speculative appeal of BTC. Michael Gates, head of allocation models at BlackRock, justifies this decision by presenting several strengths of Bitcoin: its scarcity, its status as a store of value, and its role as a hedge against dollar hegemony.

贝莱德的倡议超出了BTC的投机性吸引力。贝莱德（Blackrock）分配模型负责人迈克尔·盖茨（Michael Gates）通过提出了几种比特币的优势来证明这一决定：它的稀缺性，其作为价值存储的地位以及作为对美元霸权的树篱的作用。

“Collectively, these characteristics can provide unique and additive sources of diversification,” he writes in a note.

他在一份注释中写道：“总的来说，这些特征可以提供独特的多元化来源。”

The timing also favors the asset manager. Despite the recent drop in the BTC price to $79,000, regulations are easing and institutional interest in cryptos remains high. Some analysts believe that this decision could strengthen Bitcoin's adoption within major investment funds.

时间安排也有利于资产经理。尽管最近的BTC价格下跌至79,000美元，但法规正在放松，而对加密货币的机构兴趣仍然很高。一些分析师认为，这一决定可以加强比特币在主要投资基金中的采用。

However, the story is not so simple. As Keegan, a decentralized finance specialist, points out:

但是，这个故事并不是那么简单。正如分散的财务专家基甘（Keegan）指出的那样：

“If realized, the flows may not shift the needle immediately, but the signal of risk reduction sent to other model managers, with over $5 trillion under management, is crucial.”

“如果意识到，流量可能不会立即转移针，但是降低了向其他模型经理的风险降低信号，管理超过5万亿美元，这至关重要。”

Is BlackRock initiating a normalization of Bitcoin in institutional allocations? In short, it's no surprise that Michael Saylor is concerned about BlackRock's footprint in the crypto sphere. The CEO of MicroStrategy openly expresses his apprehension about the giant's appetite and urges investors not to yield their BTC to this financial behemoth. But it's important to note that BlackRock is not limited to BTC and ETH ETFs; it also offers a Bitcoin ETP in Europe, expanding its influence on the global crypto market. Could this be the beginning of a revolution?

贝莱德在制度分配中启动了比特币的归一化吗？简而言之，迈克尔·塞勒（Michael Saylor）担心贝莱德（BlackRock）在加密球体中的足迹也就不足为奇了。 MicroStrategy的首席执行官公开表示对巨人的胃口的担心，并敦促投资者不要将其BTC屈服于这一金融巨头。但重要的是要注意，贝莱德不仅限于BTC和ETH ETF。它还在欧洲提供了比特币ETP，扩大了对全球加密市场的影响。这可能是革命的开始吗？

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l'économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j'y étais pour quelque chose

区块链和加密革命正在进行中！而那一天，将对这个世界上最脆弱的经济感受到影响的那一天，我会说我在那里是为了某事