今年，美国证券交易委员会（SEC）计划审查70多个加密货币交易所交易基金（ETF）

根据彭博分析师Eric Balchunas的说法，该列表包括持有一系列资产的拟议ETF，从山寨币到模因再到衍生工具。

The US Securities and Exchange Commission (SEC) is set to decide on more than 70 cryptocurrency exchange-traded funds (ETFs) this year.

美国证券交易委员会（SEC）将于今年决定70多个加密货币交易所资金（ETF）。

According to Bloomberg analyst Eric Balchunas, the list includes proposed ETFs holding altcoins, memecoins, derivatives instruments and more.

根据彭博分析师Eric Balchunas的说法，该列表包括拟议的ETF，持有Altcoins，Memecoins，Memecoins，衍生工具等。

“Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Balchunas said in an April 21 post on the X platform. “Gonna be a wild year.”

“从XRP，Litecoin和Solana到Penguins，Doge和2x Melania以及两者之间的所有内容，” Balchunas在4月21日的X平台上的一篇文章中说。 “要成为狂野的一年。”

Uncertain institutional demand

不确定的机构需求

The planned funds listings come as institutional investors are becoming increasingly bullish on crypto as an asset class. Upward of 80% of institutions say they plan to increase allocations to crypto in 2025, according to a March report by Coinbase and EY-Parthenon.

随着机构投资者越来越对加密货币作为资产类别的看涨，计划中的资金上市列出了。根据Coinbase和Ey-Parthenon的3月份报告，超过80％的机构表示，他们计划在2025年增加对加密货币的分配。

However, analysts caution that just because ETFs are approved for US listings doesn’t guarantee widespread adoption, especially for funds holding more obscure alternative cryptocurrencies.

但是，分析师警告说，仅仅因为ETF被批准为美国列表，并不能保证广泛采用，尤其是对于拥有更晦涩的替代加密货币的资金。

“Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said.

Balchunas说：“拥有硬币获得ETF的大小就像是在乐队中，并将歌曲添加到所有音乐流媒体服务中。”

“Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”

“不能保证听，但它将您的音乐放在绝大多数听众的位置。”

Sygnum Bank’s research head, Katalin Tischhauser, expects altcoin ETFs to see cumulative inflows of several hundred million to $1 billion, far less than spot Bitcoin funds.

Sygnum Bank的研究负责人Katalin Tischhauser希望Altcoin ETF看到累计流入数亿至10亿美元，远低于现货比特币基金。

Funds holding Bitcoin BTCUSD—the first spot cryptocurrency approved for listing in a US ETF wrapper—attracted upward of $100 billion in net assets last year.

持有比特币BTCUSD的资金是批准在美国ETF包装纸中列出的第一名加密货币，去年净资产净资产为1000亿美元。

However, ETFs using options and other derivatives to provide structured exposure to cryptocurrencies such as Bitcoin and Ether might see more institutional uptake, analysts said.

但是，分析师说，使用选项和其他衍生物的ETF可以提供对比特币和以太等加密货币的结构性暴露，可能会看到更多的机构吸收。

Options on spot cryptocurrencies unlock numerous potential portfolio strategies for investors and could potentially catalyze “explosive” price upside for digital assets such as Bitcoin, Jeff Park, Bitwise Invest’s head of alpha strategies, said in September.

Bitwise Invest的Alpha Strategies负责人杰夫·帕克（Jeff Park）等数字资产（例如比特币，杰夫·帕克（Jeff Park））表示，现货加密货币的期权为投资者提供了许多潜在的投资组合策略，并有可能催化“爆炸性”的价格上涨空间。

Options are contracts granting the right to buy or sell an underlying asset at a certain price.

期权是授予以一定价格购买或出售基础资产的合同。

On April 21, ARK Invest added exposure to staked Solana (SOL) to two of its existing ETFs. The asset manager said it marks the first time spot SOL has been available to US investors in an ETF.

4月21日，方舟投资增加了对其现有ETF中的两个固定溶剂（SOL）的曝光率。资产经理表示，这是美国ETF投资者首次使用Sot Sol。