比特币ETF热蔓延，中国黄金ETF溢价飙升

在市场波动的情况下，中国投资者纷纷涌向黄金股票ETF，将溢价推高至前所未有的30%，导致交易暂停。这一激增归因于比特币 ETF FOMO（害怕错过），因为投资者寻求躲避经济不确定性并探索另类资产。中国缺乏比特币 ETF 放大了这种需求，分析师表示，比特币 ETF 的推出可能会激发中国投资者的广泛热情。

China's Gold ETF Premium Soars Amid Bitcoin ETF Fever

比特币ETF热潮中中国黄金ETF溢价飙升

In an unprecedented surge of trading activity, domestic investors in China have pushed the premium of a gold stock exchange-traded fund (ETF) to an astonishing 30%, triggering a temporary halt in trading. Bloomberg analyst Eric Balchunas has attributed the phenomenon to a widespread fear of missing out (FOMO) on Bitcoin ETFs.

在前所未有的交易活动激增中，中国国内投资者将一只黄金股票交易所交易基金（ETF）的溢价推高至惊人的30%，引发交易暂时停止。彭博社分析师埃里克·巴尔丘纳斯 (Eric Balchunas) 将这一现象归因于人们普遍担心错过比特币 ETF (FOMO)。

Chinese Investors Flee Domestic Economy for Safe Havens

中国投资者逃离国内经济寻求避风港

In a recent social media post, Balchunas highlighted the desperation among Chinese investors to diversify their portfolios away from a struggling domestic economy and stock market. "Investors there are so desperate to buy things that are not linked to their own economy/stock [market], which has been in the gutter," Balchunas wrote.

在最近的社交媒体帖子中，巴尔丘纳斯强调了中国投资者迫切希望将投资组合多元化，以摆脱陷入困境的国内经济和股市。巴尔丘纳斯写道：“那里的投资者非常渴望购买与本国经济/股票[市场]无关的东西，而这些市场已经陷入困境。”

This sentiment reflects a growing appetite for assets perceived as less correlated with local economic conditions. The absence of Bitcoin ETFs in China has further amplified this trend. "For those wondering, buying Bitcoin ETFs is not allowed there," Balchunas noted.

这种情绪反映出人们对与当地经济状况相关性较低的资产的兴趣日益增长。中国缺乏比特币ETF进一步放大了这一趋势。 “对于那些想知道的人来说，那里不允许购买比特币 ETF，”巴尔丘纳斯指出。

FOMO Drives Gold ETF Premium to Record High

FOMO 推动黄金 ETF 溢价创历史新高

"If it were my guess is they'd be going gaga for them given how much FOMO they have been showing for gold and US stocks (btc easily outperforming both)," Balchunas added, emphasizing the potential enthusiasm for Bitcoin ETFs among Chinese investors. This pent-up demand has channeled into gold and US stocks, propelling the gold ETF premium to an unprecedented 30.49%.

Balchunas 补充道：“如果按照我的猜测，考虑到他们对黄金和美国股票表现出的 FOMO 情绪（比特币很容易跑赢两者），他们会为他们疯狂。”他强调了中国投资者对比特币 ETF 的潜在热情。这种被压抑的需求已流入黄金和美股，推动黄金ETF溢价达到前所未有的30.49%。

Spot Bitcoin ETFs: A Glimmer of Hope

现货比特币 ETF：一线希望

Chinese investors may soon gain indirect access to Spot Bitcoin ETFs through mainland fund managers' Hong Kong-based subsidiaries. However, these ETFs will not be directly available to investors residing in mainland China.

中国投资者可能很快就会通过内地基金管理公司的香港子公司间接获得现货比特币 ETF。然而，居住在中国大陆的投资者将无法直接购买这些ETF。

Hong Kong Emerges as Bitcoin ETF Hub

香港成为比特币 ETF 中心

Hong Kong is poised to become a major hub for Bitcoin ETFs. According to industry reports, hedge fund firms are strategically leveraging their Hong Kong subsidiaries to access Spot Bitcoin ETFs. Harvest Fund and Southern Fund's Hong Kong subsidiaries have already filed applications for Bitcoin ETFs with the Hong Kong Securities Regulatory Commission.

香港有望成为比特币 ETF 的主要中心。据行业报告称，对冲基金公司正在战略性地利用其香港子公司来获取现货比特币 ETF。嘉实基金和南方基金香港子公司已向香港证监会提交比特币ETF申请。

Southern Fund Pioneers Bitcoin ETF Revolution

南方基金开创比特币ETF革命

Southern Dongying, a subsidiary of Southern Fund, has emerged as a pioneer in the Bitcoin ETF market. It launched the first crypto ETF in Asia and plans to introduce two more Bitcoin and Ethereum futures ETFs in Hong Kong. These initiatives aim to enhance Bitcoin adoption and potentially drive up BTC prices.

南方基金旗下南方东营已成为比特币ETF市场的先行者。它在亚洲推出了首只加密货币ETF，并计划在香港再推出两只比特币和以太坊期货ETF。这些举措旨在提高比特币的采用率，并可能推高比特币的价格。

Conclusion

结论

China's gold ETF premium surge illustrates the intense demand for safe-haven assets among Chinese investors. The absence of Bitcoin ETFs in China has exacerbated this trend, leading to significant FOMO. As Hong Kong positions itself as a Bitcoin ETF hub, Chinese investors may gain indirect access to these products, further fueling the global crypto market revolution.

中国黄金ETF溢价飙升表明中国投资者对避险资产的强烈需求。中国缺乏比特币 ETF 加剧了这一趋势，导致严重的 FOMO 现象。由于香港将自己定位为比特币 ETF 中心，中国投资者可能会间接获得这些产品，从而进一步推动全球加密货币市场革命。