高盛在比特币 ETF 狂潮中坚持对加密货币持怀疑态度

尽管华尔街对比特币 ETF 的兴趣日益浓厚，但高盛仍持怀疑态度，Sharmin Mossavar-Rahmani 表示，她的公司认为，加密货币由于其不可估量的价值和投机性质而缺乏投资价值。

Goldman Sachs Maintains Crypto Skepticism Amidst Bitcoin ETF Hype

高盛在比特币 ETF 炒作中保持加密货币怀疑态度

Despite the recent surge in interest surrounding Bitcoin exchange-traded funds (ETFs), Goldman Sachs is expressing caution towards the cryptocurrency as a viable investment option. This stance stands in sharp contrast to the growing embrace of cryptocurrencies by other notable financial institutions on Wall Street.

尽管最近人们对比特币交易所交易基金（ETF）的兴趣激增，但高盛对加密货币作为可行的投资选择表示谨慎。这一立场与华尔街其他著名金融机构日益接受加密货币形成鲜明对比。

Sharmin Mossavar-Rahmani, Chief Investment Officer of Goldman Sachs Wealth Management, recently stated in an interview with the Wall Street Journal that the firm remains unconvinced about cryptocurrencies as an investment class. She emphasized the difficulty in valuing such assets, as they do not generate earnings, dividends, or cash flow. This, she believes, makes it challenging to justify a bullish or bearish stance.

高盛财富管理首席投资官 Sharmin Mossavar-Rahmani 最近在接受《华尔街日报》采访时表示，该公司仍然不相信加密货币作为一种投资类别。她强调了对此类资产进行估值的困难，因为它们不产生收益、股息或现金流。她认为，这使得证明看涨或看跌立场的合理性变得具有挑战性。

Mossavar-Rahmani's skepticism stems from the firm's commitment to regulated markets and systems of checks and balances. She believes that the lack of regulation in the cryptocurrency space poses significant risks. Notably, Goldman Sachs clients are aware of the firm's anti-crypto stance and generally avoid seeking advice on investing in the sector.

莫萨瓦尔-拉赫马尼的怀疑源于该公司对受监管的市场和制衡体系的承诺。她认为，加密货币领域缺乏监管会带来重大风险。值得注意的是，高盛的客户了解该公司的反加密货币立场，并且通常避免寻求有关该行业投资的建议。

However, Goldman Sachs' stance contrasts with that of other traditional financial institutions. Rumors have surfaced suggesting that behind the scenes, Goldman Sachs may be more open to cryptocurrencies. Matt Ballensweig of BitGo's Go Network, Goldman Sachs' digital asset research unit, acknowledged that while the firm may not have a fully developed view of Bitcoin as a long-term investment, it is actively exploring the cryptocurrency ecosystem from an infrastructure perspective.

然而，高盛的立场与其他传统金融机构形成鲜明对比。有传言表明，高盛可能在幕后对加密货币更加开放。高盛数字资产研究部门 BitGo 旗下 Go Network 的 Matt Ballensweig 承认，虽然该公司可能还没有完全成熟地将比特币视为长期投资，但它正在从基础设施的角度积极探索加密货币生态系统。

Mathew McDermott, Goldman Sachs' Global Head of Digital Assets, expressed optimism about the future of blockchain-based asset trading. He anticipates a significant increase in trading volumes over the next couple of years, along with growing client interest in crypto derivatives.

高盛数字资产全球主管 Mathew McDermott 对基于区块链的资产交易的未来表示乐观。他预计未来几年交易量将大幅增加，同时客户对加密货币衍生品的兴趣也会不断增长。

Despite Goldman Sachs' skepticism, the popularity of Bitcoin ETFs on Wall Street has surged. BlackRock and Fidelity, two prominent asset managers, have launched their respective Bitcoin ETFs, which have rapidly accumulated billions of dollars in assets under management. These ETFs, due to their accessibility to mainstream investors and established client bases, are leading the competitive Bitcoin ETF race.

尽管高盛对此表示怀疑，但比特币 ETF 在华尔街的受欢迎程度仍在飙升。贝莱德和富达这两家著名的资产管理公司推出了各自的比特币 ETF，这些基金管理的资产迅速积累了数十亿美元。这些 ETF 由于能够吸引主流投资者并拥有成熟的客户群，因此在比特币 ETF 竞争中处于领先地位。

Several major Wall Street firms and exchanges have also expressed support for Bitcoin ETFs, signaling a potential major expansion in the ETF market. The Nasdaq, CBOE, and NYSE Arca have all filed 19b-4s with the SEC to allow the trading of related options on ETFs. Additionally, investment bank Morgan Stanley is reportedly considering adding spot Bitcoin ETFs to its brokerage platform.

华尔街几家主要公司和交易所也表示支持比特币 ETF，这表明 ETF 市场可能会大幅扩张。纳斯达克、芝加哥期权交易所和纽约证券交易所 Arca 均已向 SEC 提交了 19b-4，以允许 ETF 的相关期权交易。此外，据报道，投资银行摩根士丹利正在考虑将现货比特币 ETF 添加到其经纪平台中。

If approved, Morgan Stanley would become the first large registered investment advisor (RIA) network and broker-dealer platform to list Bitcoin ETFs. This move could potentially pave the way for other financial giants such as Merrill Lynch and Wells Fargo to follow suit, significantly boosting inflows into the ETF market.

如果获得批准，摩根士丹利将成为第一家上市比特币 ETF 的大型注册投资顾问 (RIA) 网络和经纪自营商平台。此举可能为美林和富国银行等其他金融巨头效仿铺平道路，从而显着增加ETF市场的资金流入。

Analysts believe that the approval of more Bitcoin ETFs will open up the market to a broader range of investors. "These networks and platforms are the addressable market for Bitcoin that the ETFs were always supposed to open up," said Bloomberg analyst James Seyffart. "I think eventually the vast majority of platforms, if not all, will approve these things."

分析师认为，更多比特币ETF的批准将为更广泛的投资者开放市场。彭博社分析师詹姆斯·塞法特 (James Seyffart) 表示：“这些网络和平台是 ETF 一直应该开放的比特币潜在市场。” “我认为最终绝大多数平台（如果不是全部）都会批准这些事情。”

As the Bitcoin ETF market continues to evolve, it remains to be seen whether Goldman Sachs will alter its stance on cryptocurrencies. The firm's skepticism serves as a reminder of the ongoing debate surrounding the viability of digital assets as long-term investments. However, the growing acceptance of Bitcoin ETFs by other financial institutions suggests that the trend towards mainstream adoption is likely to continue, regardless of Goldman Sachs' reservations.

随着比特币ETF市场的不断发展，高盛是否会改变其对加密货币的立场还有待观察。该公司的怀疑态度提醒人们，围绕数字资产作为长期投资的可行性正在进行的争论。然而，其他金融机构对比特币 ETF 的接受度不断提高，这表明，无论高盛持保留态度，主流采用的趋势可能会持续下去。