以太坊 ETF 会取得比特币的成功吗？ SEC 调查提出质疑

富达投资管理着 4.5 万亿美元的庞大投资组合，已向美国证券交易委员会 (SEC) 申请设立以太坊现货交易所交易基金 (ETF)。继比特币 ETF 最近取得成功之后，富达与几家知名公司一起推出以太坊产品。该 ETF 旨在为投资者提供直接接触以太坊市场的机会，同时结合质押功能。然而，由于潜在的法律挑战和市场波动，以太坊 ETF 的批准路径仍然不确定。

Will Ethereum ETFs Fare as Well as Their Bitcoin Counterparts?

以太坊 ETF 的表现会和比特币 ETF 一样吗？

Could Staking Capabilities Sway the SEC?

质押能力能否影响 SEC？

Fidelity Investments, a behemoth with $4.5 trillion under management, has thrown its hat into the crypto ring by filing paperwork with the Securities and Exchange Commission (SEC) for a spot Ethereum exchange-traded fund (ETF). Hot on the heels of the success of Bitcoin ETFs, industry watchers have been eagerly awaiting a similar offering for Ethereum from heavyweights like Fidelity.

管理着 4.5 万亿美元资产的巨头富达投资公司 (Fidelity Investments) 向美国证券交易委员会 (SEC) 提交了以太坊现货交易所交易基金 (ETF) 的文件，正式进军加密货币领域。继比特币 ETF 的成功之后，行业观察人士一直在热切地等待 Fidelity 等重量级公司推出类似的以太坊产品。

A Rocky Road Ahead for Ethereum ETFs?

以太坊 ETF 的前路坎坷？

While the triumph of Bitcoin ETFs has paved the way for wider institutional adoption of digital assets, the path to an Ethereum ETF is less clear. The SEC has reportedly launched an investigation that could potentially impact Ethereum's classification as a security, throwing a spanner in the approval process.

虽然比特币 ETF 的成功为机构更广泛地采用数字资产铺平了道路，但以太坊 ETF 的发展之路还不太清晰。据报道，美国证券交易委员会发起了一项调查，可能会影响以太坊作为证券的分类，从而阻碍审批过程。

Diminished Optimism Weighs on Approval Prospects

乐观情绪减弱影响批准前景

Market conditions have also taken a turn, with crypto market maker GSR slashing its estimate of a spot Ether ETF approval in May from 75% in January to a mere 20%. This suggests that the once-rosy outlook for Ethereum ETFs may have faded somewhat.

市场状况也发生了转变，加密货币做市商 GSR 将其对 5 月份以太坊现货 ETF 批准率的预估从 1 月份的 75% 大幅下调至仅 20%。这表明以太坊 ETF 一度乐观的前景可能已经有所褪色。

Obstacles Loom over Ethereum ETF Approval

以太坊 ETF 批准面临障碍

The SEC's ongoing investigation and the shifting market dynamics cast doubt on the timeline for Ethereum ETF approval. While Fidelity's filing demonstrates the growing demand for crypto ETFs, it remains to be seen whether Ethereum will join Bitcoin in gaining regulatory acceptance. The SEC's scrutiny of Ethereum's security status will undoubtedly play a pivotal role in determining its fate.

美国证券交易委员会正在进行的调查和不断变化的市场动态使人们对以太坊 ETF 批准的时间表产生了疑问。尽管富达的文件表明对加密 ETF 的需求不断增长，但以太坊是否会加入比特币获得监管机构认可的行列还有待观察。 SEC对以太坊安全状况的审查无疑将在决定其命运方面发挥关键作用。