加密市场发热持续存在，因为机构堆入ETF，贝莱德计划欧洲比特币产品

本周，一系列的ETF申请代表更渴望的资产经理从热情交流到美国安全交易委员会的门口。

Institutions just can't get enough crypto exchange-traded funds (ETFs). With Trump—“the Crypto President”—now in office, the industry is going full steam ahead with its ambitions to milk the digital asset market at every opportunity.

机构无法获得足够的加密交易所交易资金（ETF）。随着特朗普（“加密货币总统”）的任期，该行业正以每一个机会挤满数字资产市场的雄心壮志。

This week saw a slew of ETF applications reach the doorstep of the U.S. Security Exchange Commission from enthusiastic exchanges on behalf of even more eager asset managers.

本周，一系列的ETF申请代表更渴望的资产管理人员从热情的交流中到达了美国安全交易委员会的家门口。

Chicago’s Cboe Exchange has submitted four separate applications to the SEC for XRP ETFs from WisdomTree, Bitwise, 21Shares, and Canary. Meanwhile, Franklin Templeton filed for regulatory approval from the SEC to launch a new crypto index ETF, and Crypto.com announced plans to launch an ETF for its native token, Cronos (CRO), while planning its own stablecoin. Even more surprisingly, 21Shares filed for a Polkadot ETF, much to the dismay of the crypto industry.

芝加哥的CBOE Exchange已向SEC提交了四个独立的应用程序，该应用程序来自WisdomTree，Bitwise，21shares和Canary的XRP ETF。同时，富兰克林·邓普顿（Franklin Templeton）向SEC申请了监管机构批准，以启动新的加密指数ETF，而Crypto.com在计划自己的stablecoin的同时，宣布了为其本土代币Cronos（CRO）启动ETF的计划。更令人惊讶的是，21shares申请了Polkadot ETF，这使加密货币行业感到沮丧。

This all comes as the SEC intends to scale back its crypto enforcement unit. Lawyers from the unit are reportedly being reassigned to other departments within the agency, with one top lawyer being moved out of enforcement. This reassignment has been regarded as an unfair demotion, by some, potentially signaling internal disagreements about the agency’s direction on crypto regulation.

这一切都是因为SEC打算扩大其加密执法单元。据报道，该单位的律师正在将机构内部的其他部门重新分配，其中一名顶级律师被移出执法。这种重新分配被认为是对代理机构在加密监管方向的内部分歧的可能性表达的不公平降级。

It's not just the U.S. that has crypto-institutional fever either. BlackRock this week revealed it plans to introduce an exchange-traded product (ETP) linked to Bitcoin in Europe.

不仅是美国也有加密训练发烧。 Blackrock本周透露，它计划引入与欧洲比特币相关的交易所交易产品（ETP）。

Managing over $4.4 trillion in ETFs globally, the world's largest asset manager has already amassed $58 billion in assets through its U.S. Bitcoin ETF. Its new European fund is reported to be domiciled in Switzerland, with BlackRock expected to begin marketing the product this month.

全球拥有超过4.4万亿美元的ETF，全球最大的资产经理已经通过其美国比特币ETF积累了580亿美元的资产。据报道，其新的欧洲基金在瑞士居住，贝莱德预计将在本月开始营销该产品。

But not everything is rosy in the world of crypto. MicroStrategy, which unexpectedly rebranded to "Strategy," reported a mixed financial performance in its Q4 earnings.

但是，并非一切都在加密世界中玫瑰色。 MicroStrategy意外地将“战略”重新命名为“战略”。

The company posted $120.7 million in revenue, falling short of analyst expectations of $123.25 million. Total revenue declined 3% year-over-year, while subscription services revenue grew 48.4% to $31.9 million. Other revenue streams, including product support and consulting services, saw declines.

该公司的收入为1.207亿美元，不超过分析师预期的1.232亿美元。总收入同比下降3％，而订阅服务收入增长了48.4％，达到3190万美元。其他收入来源，包括产品支持和咨询服务，也有所下降。

Its stock price, which soared 740% in 2024 alone, has consequently taken a bit of a beating, trading at 20% below its 2024 high.

其股票价格仅在2024年就飙升了740％，因此进行了一些殴打，其交易价格低于其2024年高的20％。

That said, it's not exactly like the market is having a great week either. Perhaps still hungover from the whole DeepSeek market crash last week, both the stock market and crypto market aren't performing at their best this week.

也就是说，这也不是市场度过一个愉快的一周。上周整个DeepSeek市场崩溃的宿舍也许仍然宿醉，本周股市和加密货币市场都没有表现出色。

Bitcoin is down slightly under 1% but is still trading below its celebrated $100K mark. Ethereum is down more than 5%, far below the $3K mark.

比特币的下跌略低于1％，但仍低于其著名的$ 10万美元。以太坊的下降超过5％，远低于$ 3K。

Risk appetites have slipped last week's 76, "Extreme Greed," to 44, "Fear." The Fear & Greed Index uses 5-6 measurements to assess the current sentiment of the market and then rates that level of emotion on a scale of 1-100 – 1 is extreme fear and 100 is extreme greed.

上周的76个“极端贪婪”的风险食欲下滑至44岁，“恐惧”。恐惧和贪婪指数使用5-6个测量值来评估当前市场的情感，然后以1-100 - 1的规模对情感水平进行评估是极端的恐惧，而100是极端贪婪。

But as always, BRN is here to calm your woes. "We anticipate that the numerous positive developments will drive Bitcoin and altcoins to significantly higher levels in 2025. As such, we maintain our recommendation to hold a heavy crypto allocation and buy the dip—continuing to favor Bitcoin over Ethereum," BRN analyst, Valentin Fournier suggests.

但是，与往常一样，BRN在这里平静您的烦恼。 “我们预计，众多积极的发展将使比特币和山寨币在2025年达到更高的水平。因此，我们坚持建议进行大量加密分配并购买倾角，并购买 - 持续使用比特币，而不是以太坊，”瓦伦丁（Valentin），瓦伦丁（Valentin） Fournier建议。

Yesterday, the SEC acknowledged ETF applications for $XRP, $SOL, and $LTC. While this does not guarantee approval, it signals a more favorable stance from the current administration towards lower-cap ETFs.

昨天，SEC确认了$ XRP，$ SOL和$ LTC的ETF申请。尽管这不能保证批准，但它标志着当前管理部门对低CAP ETF的更有利立场。