加密货币 ETF：彻底改变投资组合还是风险投资？

最近加密货币交易所交易基金（ETF）的激增表明数字资产正在成为主流投资工具。这一转变为个人投资者、机构和监管机构带来了令人兴奋的机遇和挑战。

Cryptocurrency investment company Bitwise has made several significant moves recently, including submitting an application to the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that would hold its diversified 10 Crypto Index Fund. This fund includes leading cryptocurrencies such as Bitcoin, Ethereum, Solana, and Cardano, among others.

加密货币投资公司 Bitwise 最近采取了几项重大举措，包括向美国证券交易委员会 (SEC) 提交了一项交易所交易基金 (ETF) 的申请，该基金将持有其多元化的 10 加密货币指数基金。该基金包括比特币、以太坊、Solana 和 Cardano 等领先的加密货币。

The application marks one of the most comprehensive proposals for a crypto ETF in the United States. If approved, the ETF would trade on Cboe BZX Exchange and be available to a broad range of investors.

该申请标志着美国最全面的加密 ETF 提案之一。如果获得批准，该 ETF 将在 Cboe BZX 交易所进行交易，并向广大投资者开放。

In another development, Ripple has announced its support for Bitwise's Physical XRP ETP, which is designed to provide European investors with direct access to XRP.

另一方面，Ripple 宣布支持 Bitwise 的物理 XRP ETP，旨在为欧洲投资者提供直接获取 XRP 的机会。

According to industry insiders, the renewed clarity in U.S. cryptocurrency regulations has created an opportunity for such products to flourish.

业内人士表示，美国加密货币法规的重新明确为此类产品的蓬勃发展创造了机会。

Furthermore, Bitwise has submitted the necessary regulatory documents to venture into the growing Solana ETF space, joining competitors VanEck and 21Shares.

此外，Bitwise 已提交必要的监管文件，加入竞争对手 VanEck 和 21Shares 的行列，涉足不断增长的 Solana ETF 领域。

In a related move, WisdomTree has taken steps to prepare an XRP-focused ETF by registering “WisdomTree XRP Fund” in Delaware. This action reflects the growing demand for digital asset investment vehicles.

在一项相关举措中，WisdomTree 已采取措施，通过在特拉华州注册“WisdomTree XRP 基金”来准备以 XRP 为重点的 ETF。这一行动反映了对数字资产投资工具不断增长的需求。

Meanwhile, 21Shares is expanding its offerings with the launch of new ETPs covering tokens like Ondo Finance and Near Protocol.

与此同时，21Shares 正在扩大其产品范围，推出涵盖 Ondo Finance 和 Near Protocol 等代币的新 ETP。

These initiatives showcase 21Shares' ongoing commitment to providing innovative investment products in the cryptocurrency domain.

这些举措展示了 21Shares 对在加密货币领域提供创新投资产品的持续承诺。

The broader landscape of cryptocurrency ETFs is also rapidly evolving, with several key developments emerging beyond the U.S. and European markets.

加密货币 ETF 的更广泛前景也在迅速发展，美国和欧洲市场之外出现了一些关键发展。

In Canada, for instance, Purpose Investments has launched a spot Bitcoin ETF, while Evolve Funds has introduced an Ethereum ETF. Both ETFs have seen strong demand and are now among the largest in the country.

例如，在加拿大，Purpose Investments 推出了现货比特币 ETF，而 Evolve Funds 则推出了以太坊 ETF。这两只 ETF 的需求强劲，目前已跻身该国最大的 ETF 之列。

Moreover, Brazil has also taken steps to approve an ETF that provides exposure to both Bitcoin and Ethereum.

此外，巴西还采取措施批准了同时提供比特币和以太坊敞口的 ETF。

The introduction of crypto ETFs in the U.S. is expected to create a ripple effect, encouraging more countries to adopt similar measures, thus fostering a more interconnected global financial system.

美国推出加密货币 ETF 预计将产生连锁反应，鼓励更多国家采取类似措施，从而培育更加互联的全球金融体系。

Cryptocurrency ETFs: A Closer Examination

加密货币 ETF：仔细检查

The recent surge in cryptocurrency exchange-traded funds (ETFs) suggests that digital assets are becoming mainstream investment vehicles. This shift presents exciting opportunities and challenges for individual investors, institutions, and regulators.

最近加密货币交易所交易基金（ETF）的激增表明数字资产正在成为主流投资工具。这一转变为个人投资者、机构和监管机构带来了令人兴奋的机遇和挑战。

Here, we'll explore some emerging developments and delve into the broader implications of crypto ETFs.

在这里，我们将探讨一些新兴发展，并深入探讨加密 ETF 的更广泛影响。

While Bitwise, Ripple, and WisdomTree focus on U.S. and European markets, other regions are experiencing significant developments in crypto ETFs.

虽然 Bitwise、Ripple 和 WisdomTree 专注于美国和欧洲市场，但其他地区的加密 ETF 正在经历重大发展。

For example, countries like Canada and Brazil have already approved Bitcoin and Ethereum ETFs, paving the way for global acceptance.

例如，加拿大和巴西等国家已经批准了比特币和以太坊 ETF，为全球接受铺平了道路。

The appeal of crypto ETFs lies in their ability to provide a safer and more regulated means of investing in digital currencies, especially for institutional investors who are typically wary of the volatility and security risks associated with direct crypto purchases.

加密货币 ETF 的吸引力在于它们能够提供更安全、更受监管的数字货币投资方式，特别是对于通常对直接购买加密货币相关的波动性和安全风险持谨慎态度的机构投资者而言。

Additionally, ETFs allow for diversification within one investment vehicle, encompassing multiple cryptocurrencies which might otherwise require separate purchases.

此外，ETF 允许在一种投资工具内实现多元化，包括多种加密货币，否则可能需要单独购买。

However, crypto ETFs are not without controversy. Critics argue that the introduction of ETFs based on volatile digital assets could increase systemic risk within traditional financial systems.

然而，加密 ETF 并非没有争议。批评者认为，引入基于波动性数字资产的 ETF 可能会增加传统金融体系内的系统性风险。

The potential for market manipulation and lack of historical data to assess long-term risks are further points of concern. Moreover, with the regulatory environment still evolving, investors face uncertainty regarding potential future restrictions or changes.

市场操纵的可能性和缺乏评估长期风险的历史数据是进一步令人担忧的问题。此外，随着监管环境仍在不断发展，投资者面临未来潜在限制或变化的不确定性。

On the flip side, crypto ETFs can democratize access to digital asset investments. By lowering the barrier to entry, smaller investors can participate in a market once dominated by large, tech-savvy players.

另一方面，加密货币 ETF 可以实现数字资产投资的民主化。通过降低进入门槛，小投资者可以参与曾经由精通技术的大型企业主导的市场。

Additionally, ETFs could boost local economies by drawing in foreign investment and enhancing technological infrastructure.

此外，ETF 可以通过吸引外国投资和加强技术基础设施来促进当地经济。

FAQs About Crypto ETFs

有关加密货币 ETF 的常见问题解答

1. How do crypto ETFs benefit traditional investors? Crypto ETFs offer exposure to the high-growth potential of cryptocurrencies while providing the familiar structure and security of traditional ETFs.

1. 加密ETF如何让传统投资者受益？加密货币 ETF 提供了加密货币的高增长潜力，同时提供传统 ETF 的熟悉结构和安全性。

2. Are crypto ETFs safer than direct crypto investment? While they are generally considered less risky due to more stringent regulatory oversight, they still carry the inherent volatility of the underlying assets.

2. 加密货币ETF比直接加密货币投资更安全吗？虽然由于更严格的监管监督，它们通常被认为风险较小，但它们仍然具有基础资产固有的波动性。

3. What future developments can we expect? As the regulatory landscape clarifies, we anticipate a broader range of crypto ETFs, potentially including thematic or sector-specific funds (e.g., DeFi-focused ETFs).

3. 我们可以期待哪些未来的发展？随着监管环境的明晰，我们预计加密 ETF 的范围将更加广泛，可能包括主题基金或特定行业基金（例如，专注于 DeFi 的 ETF）。

Conclusion

结论

The evolving landscape of cryptocurrency ETFs presents both promising opportunities and significant risks. As financial institutions and regulators work to strike a balance between innovation and protection, the role of digital assets within the global economy will continue to expand and adapt.

加密货币 ETF 不断发展的格局既带来了光明的机遇，也带来了巨大的风险。随着金融机构和监管机构努力在创新和保护之间取得平衡，数字资产在全球经济中的作用将继续扩大和适应。

For more information on digital asset investments and ETFs, you might explore these reliable resources: Investopedia and Crypto.com.

有关数字资产投资和 ETF 的更多信息，您可以探索这些可靠的资源：Investopedia 和 Crypto.com。