比特币交易所贸易资金的出现为传统投资者打开了进入加密货币行业的闸门

自从第一个位于比特币交易所交易的资金上线以来，已经一年多了，他们的出现为传统投资者打开了闸门，以便将其堆入加密货币行业

It's now been just over a year since the first spot Bitcoin exchange-traded funds went live, and their emergence finally opened the floodgates for traditional investors to pile into the crypto industry like never before.

自从第一个席位比特币交易所交易的资金上线以来，现在已经一年多了，他们的出现终于为传统投资者打开了闸门，使传统投资者像以前从未像现在这样堆积进入加密货币行业。

The first spot Bitcoin ETFs began trading in January 2024, and they emerged after a lengthy period of anticipation. They were also viewed as a major moment for the broader digital asset industry.

第一个位置比特币ETF开始于2024年1月进行交易，在很长一段时间的期待之后，它们出现了。他们也被视为更广泛的数字资产行业的主要时刻。

This is because they enabled traditional investors, who were previously very cautious about digital assets, to enter the crypto market for the first time.

这是因为他们使以前对数字资产非常谨慎的传统投资者能够首次进入加密市场。

They’re also credited with fuelling the astonishing gains in Bitcoin’s value over the last year, sending it beyond the $100,000 barrier for the first time.

他们还认为，去年，比特币价值的惊人收益促进了首次超过100,000美元的障碍。

More Accessible Than Ever Before

比以往任何时候都更容易

Perhaps the biggest single impact of the first Bitcoin ETFs was making it much easier for traditional investors to gain exposure to the world’s most popular crypto asset.

也许第一个比特币ETF的最大唯一影响是使传统投资者更容易获得世界上最受欢迎的加密资产的曝光率。

Before the ETFs, the only way to buy Bitcoin was to create an account at an exchange or purchase it privately from an individual. That also meant creating a crypto wallet and putting up with the hassles of securing it, which is a step too far for cautious investors.

在ETF之前，购买比特币的唯一方法是在交易所创建一个帐户或从个人私下购买帐户。这也意味着要制作一个加密钱包，并忍受确保它的麻烦，这对谨慎的投资者来说太远了。

Conversely, ETFs allow investors to buy BTC through a traditional brokerage, just as they would acquire stocks and shares or commodities. By easing access this way, ETFs won over thousands of investors, who poured billions of dollars into these new funds. It wasn’t just institutional investors who were showing interest; many retail investors displayed enthusiasm, too.

相反，ETF允许投资者通过传统经纪公司购买BTC，就像他们将获取股票，股票或商品一样。通过这种方式，ETF赢得了成千上万的投资者，他们向这些新资金投入了数十亿美元。不仅仅是表现出兴趣的机构投资者；许多零售投资者也表现出热情。

The most popular Bitcoin ETF by far is BlackRock’s iShares Bitcoin Trust, which has amassed a stunning $37 billion net inflow.

到目前为止，最受欢迎的比特币ETF是贝莱德的iShares比特币信托基金，它积累了370亿美元的净流入。

As of early March 2025, it controls more than $52 billion in net assets, surpassing the $33 billion held in the 20-year-old iShares gold ETF and not far off of the $75 million held in the world’s largest gold ETF, the SPDR Gold Shares.

截至2025年3月初，它控制了超过520亿美元的净资产，超过了20岁的Ishares Gold ETF中持有的330亿美元，并且与世界上最大的黄金ETF（SPDR Gold Shares）持有的7500万美元相距不远。

The crypto exchange GRVT astutely points out in a recent blog post that the growth of Bitcoin ETFs far outpaced that of the first gold ETFs during their first year of trading. When they launched in 2024, the gold ETFs accumulated just $3.45 billion in capital in the first 12 months,

加密交易所GRVT在最近的博客文章中敏锐地指出，比特币ETF的增长远远超过了交易第一年的第一年黄金ETF。当他们在2024年推出时，黄金ETF在头12个月内仅积累了34.5亿美元的资本

A Stunning Price Impact

惊人的价格影响

Although it’s always challenging to understand what’s driving Bitcoin’s price action, most analysts agree that the ETFs were one of the major factors powering the token’s incredible gains over the last year. As the ETF operators began bulk-buying Bitcoin to support these new funds, BTC rapidly became more scarce, and its price shot up to record-breaking levels.

尽管了解什么是驱动比特币的价格行动总是很具有挑战性的，但大多数分析师都同意，ETF是去年为代币令人难以置信的收益提供动力的主要因素之一。随着ETF运营商开始批量购买比特币以支持这些新基金，BTC迅速变得更加稀缺，其价格达到了创纪录的水平。

On January 10, when the U.S. Securities and Exchange Commission announced it had approved the first Bitcoin ETFs, BTC was priced at just $46,000. The price then dipped below $40,000, only to recover and surge to a new record of just over $73,000 by the middle of March.

1月10日，当美国证券交易委员会宣布批准了第一批比特币ETF时，BTC的价格仅为46,000美元。然后，价格低于40,000美元，直到3月中旬才能恢复和涌现到73,000美元以上的新记录。

Other factors, such as the much-vaunted “Bitcoin halving”, have also been credited with the surging price of Bitcoin, as it slowed the pace at which new Bitcoins are minted by the “miners” that power its decentralized network. With fewer new coins entering circulation and the soaring demand created by the ETFs, Bitcoin’s price increased.

其他因素，例如备受竞争的“比特币减半”，也因比特币的价格上涨而归功于它的速度，因为它减慢了新的比特币被其分散网络的“矿工”铸造的新比特币的速度。随着进入流通的新硬币和ETF产生的飙升需求，比特币的价格上涨。

Further impetus came after Donald Trump’s November U.S. election victory, with his promise of a friendlier attitude to crypto sending the market into overdrive. Bitcoin rapidly soared to over $100,000 in November, hitting a record of $109,114 on January 20.

在唐纳德·特朗普（Donald Trump）11月的美国大选胜利之后，他对加密货币的态度更加友好地将市场推向了超速行驶之后，进一步推动了推动力。比特币在11月迅速飙升至100,000美元以上，在1月20日达到了109,114美元的记录。

More Crypto ETFs On The Way

途中更多的加密ETF

Bitcoin EFTs were widely seen as a big success, and it was only a matter of time before the SEC was asked to approve additional products for rival cryptocurrencies such as Ethereum.

比特币EFT被广泛认为是巨大的成功，这只是时间问题，要求SEC批准其他产品以竞争以太坊等竞争对手的加密货币。

Late last year, we saw the arrival of the first spot ether ETF, which gives investors similarly easy exposure to ETH. Many more are on the table, such as the first Solana and hybrid BTC/ETH ETFs.

去年年底，我们看到了第一位Ether ETF的到来，这使投资者同样容易接触ETH。桌子上还有更多的东西，例如第一个Solana和Hybrid BTC/ETH ETF。

The Trump administration is likely to relax crypto’s regulatory rules even further, and many believe we’ll see many more crypto ETFs emerge in the coming months, such as XRP, Cardano, Hedera, and Litecoin. Trump’s recent announcement that he wants to create a “strategic reserve” that includes several tokens only adds fuel to the fire, increasing demand for such products.

特朗普政府可能会进一步放松加密的监管规则，许多人认为，在接下来的几个月中，我们会看到更多的加密ETF出现，例如XRP，Cardano，Hedera和Litecoin。特朗普最近宣布他想创建一个“战略储备”，其中包括几个令牌只会增加火灾的燃料，从而增加了对这种产品的需求。

Crypto Goes Mainstream

加密成为主流

The incredible success of the first Bitcoin ETFs adds to the growing consensus that crypto is no longer some kind of speculative asset but rather a viable, mainstream investment with just as much potential as some of the hottest tech stocks available on the public markets today.

第一个比特币ETF的成功增加了加密不再是某种投机资产的共识，而是可行的主流投资，其潜力与当今公共市场上一些最热门的技术股票一样多。

This potential, along with the fact that ETFs make

这种潜力，以及ETF的事实