唐纳德·特朗普 2024 年连任引发加密货币牛市

唐纳德·特朗普 (Donald Trump) 于 2024 年 11 月当选，在他作为支持加密货币领袖的声誉的推动下，引发了加密货币牛市。

Donald Trump’s return to the White House in November 2024 sparked a cryptocurrency bull run, thanks to his pro-crypto stance. His campaign promises, like setting up a strategic Bitcoin reserve for the U.S. and launching his own meme coin on January 17, fueled the optimism.

由于支持加密货币的立场，唐纳德·特朗普 (Donald Trump) 于 2024 年 11 月重返白宫，引发了加密货币牛市。他的竞选承诺，比如为美国建立比特币战略储备，以及于 1 月 17 日推出自己的模因币，都加剧了乐观情绪。

However, Trump’s inaugural address and initial executive orders had no mention of cryptocurrency, leaving investors guessing about his specific policies. But despite this, the market enthusiasm remained strong, with both retail and institutional players driving the rally.

然而，特朗普的就职演说和最初的行政命令都没有提及加密货币，这让投资者对他的具体政策产生了猜测。但尽管如此，市场热情依然强劲，散户和机构参与者都推动了涨势。

Institutions, usually more conservative in their approach, showed surprising enthusiasm for the ongoing excitement. A recent Securities and Exchange Commission (SEC) filing on January 21 revealed plans by REX Shares and Osprey Funds to launch seven new cryptocurrency exchange-traded funds (ETFs).

机构通常在做法上较为保守，但对持续的兴奋表现出令人惊讶的热情。最近，美国证券交易委员会 (SEC) 于 1 月 21 日提交的文件显示，REX Shares 和 Osprey Funds 计划推出七只新的加密货币交易所交易基金 (ETF)。

Of these, two ETFs are particularly noteworthy and unprecedented in the market: ones based on Dogecoin (DOGE) and Trump’s meme coin (TRUMP). Along with the meme coin ETFs, the filing also outlines plans for Bitcoin, Ethereum (ETH), Solana (SOL), and XRP ETFs.

其中，有两款 ETF 特别值得注意且在市场上前所未有：基于狗狗币 (DOGE) 和特朗普模因币 (TRUMP) 的 ETF。除了 Meme 币 ETF 之外，该文件还概述了比特币、以太坊 (ETH)、Solana (SOL) 和 XRP ETF 的计划。

According to analyst James Seyffart, these funds will be filed under the 1940 Act, similar to the crypto futures ETFs. This structure allows the ETFs to include a mix of derivatives and direct asset holdings, managed through a Cayman Islands-based subsidiary.

分析师 James Seyffart 表示，这些基金将根据 1940 年法案进行备案，类似于加密货币期货 ETF。这种结构允许 ETF 包含衍生品和直接资产持有的组合，并通过位于开曼群岛的子公司进行管理。

While the introduction of meme coin ETFs is a first for the market, it raises questions about how these funds will navigate the extreme volatility inherent in meme-based assets. Large-cap cryptocurrency ETFs have historically attracted significant inflows, but whether these new offerings can capture similar interest—or fit within the risk tolerance of most investors—remains to be seen.

虽然 Meme 币 ETF 的推出在市场上尚属首次，但它引发了人们的疑问：这些基金将如何应对基于 Meme 的资产固有的极端波动性。大型加密货币 ETF 历来吸引了大量资金流入，但这些新产品是否能够吸引类似的兴趣，或者是否符合大多数投资者的风险承受能力，仍有待观察。