以太坊交换基金（ETF）的景观正在发生地震转变

这一发展具有彻底改变以太坊ETF市场的潜力，吸引了新的投资者，并为现有持有人释放了可观的价值。

The landscape of Ethereum exchange-traded funds (ETFs) is undergoing a seismic shift, with the prospect of these funds being able to stake the cryptocurrency gaining significant momentum.

以太坊交换基金（ETF）的景观正在发生地震转变，这些资金的前景能够将加密货币带来显着的势头。

A confluence of events, including a global investment management giant's vocal advocacy for staking's potential and a U.S. exchange's filing on behalf of a renowned digital asset firm's ether ETF, signals a growing consensus that yield-generating staking could soon become a reality for these investment vehicles.

事件的融合，包括全球投资管理巨头对Stataking的潜力的声音倡导以及代表一家著名的数字资产公司的Ether ETEF提交的美国交易所提交的文件，这表明越来越多的共识表明，产生产生的Staking可能很快就会成为这些投资工具的现实。

This development holds the potential to revolutionize the Ethereum ETF market, attracting a new wave of investors and unlocking substantial value for existing holders. The ability to earn yield through staking, a process that involves locking up Ethereum tokens to support the network and validate transactions, would significantly enhance the appeal of these ETFs, bridging the gap between traditional investment vehicles and the burgeoning world of decentralized finance (DeFi).

这一发展具有彻底改变以太坊ETF市场的潜力，吸引了新的投资者，并为现有持有人释放了可观的价值。通过Staking赚取收益的能力，该过程涉及锁定以太坊代币以支持网络并验证交易，这将大大提高这些ETF的吸引力，从而弥合传统投资工具与新兴的分散财务世界（DEFI）之间的差距。

BlackRock's Endorsement: A Catalyst for Change

贝莱德的认可：变革的催化剂

Among those who have spoken out in favor of staking for Ethereum ETFs is investment management giant BlackRock (BLK).

投资管理巨头贝莱德（BLK），在那些支持以太坊ETF的人中表示赞赏的人中。

During a recent digital assets conference, Robert Mitchnick, the company's Head of Digital Assets, highlighted the potential benefits of allowing ETF issuers to simultaneously stake Ethereum, noting that it could generate "added demand" for the cryptocurrency.

在最近的数字资产会议上，该公司数字资产负责人罗伯特·米奇尼克（Robert Mitchnick）强调了允许ETF发行人同时利用以太坊的潜在好处，并指出它可以为加密货币产生“增加需求”。

Mitchnick's remarks highlight the growing recognition that staking yield is a "meaningful part" of generating investment returns in the Ethereum space. He also pointed out that the initial launch of Ethereum ETFs in July 2024, operating within the regulatory constraints of the time, did not include staking.

米奇尼克（Mitchnick）的言论强调了越来越多的认识，即放养产量是在以太坊领域产生投资回报的“有意义的部分”。他还指出，2024年7月在当时的监管限制内运行的以太坊ETF的最初发射不包括股权。

"We're not able to participate in the yield opportunities that are presented in crypto markets today, such as staking, liquidity provision, or yield enhancement strategies," Mitchnick explained.

Mitchnick解释说：“我们无法参与当今加密市场中提供的收益机会，例如积分，流动性提供或增强策略。”

He further stated that while the existing generation of ETFs is focused on providing broad market exposure, the next generation of ETFs will offer more specialized investment opportunities within the cryptocurrency market.

他进一步指出，尽管现有的ETF侧重于提供广泛的市场敞口，但下一代ETF将在加密货币市场中提供更多专业的投资机会。

"We believe that the next generation of products will offer more specialized exposures and factor-based strategies, and we're actively exploring opportunities to launch new types of ETFs that cater to the evolving needs of investors."

“我们认为，下一代产品将提供更多的专业风险和基于因素的策略，我们正在积极探索推出新型的ETF的机会，以满足投资者不断发展的需求。”

NYSE Arca Files for Bitwise Ether ETF to Stake Ethereum

NYSE ARCA档案for Bitwise EthET ETF以利用以太坊

In a move that brings the prospect of staking for Ethereum ETFs closer to reality, NYSE Arca has filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC).

为了使以太坊ETF的潜在客户更接近现实，纽约证券交易所ARCA已向美国证券交易委员会（SEC）提出了拟议的规则更改。

If approved, this proposal would permit Bitwise's ether ETF to earn yield from staking Ethereum. The filing follows similar proposals from other ETF issuers, including Grayscale, 21Shares, and Fidelity.

如果获得批准，该提案将允许Bitwise的Ether ETF从堆放以太坊中赚取收益。该文件遵循其他ETF发行人的类似建议，包括灰度，21shares和Fidelity。

"This proposal seeks to create a new category of Section 12(b)(1) Trust covered ETFs that may, subject to limitations and conditions, engage in staking activity in accordance with the terms of the Trust's investment mandate and applicable law," stated NYSE Arca in its proposal.

NYSE ARCA在其提案中说：“该提案旨在创建第12（b）（1）条的新类别涵盖的ETF，但可能会受到限制和条件的影响，根据信托基金的投资授权和适用法律的条款进行积分活动。”

"The Commission may grant the proposal if it finds that the proposed rule change is consistent with the provisions of Section 15A(b)(6) of the Exchange Act, and that it is otherwise appropriate in furtherance of the purposes of the Exchange Act."

“如果委员会发现拟议的规则更改与《交换法》第15A（b）（6）条的规定一致，并且委员会可以批准该提案，并且为了促进《交换法》的目的，则否则是适当的。”

The proposed rule change would allow Bitwise's ether ETF to participate in the staking process, locking up its ether holdings to validate transactions on the Ethereum network and earning rewards for this service. This would enhance the ETF's appeal to investors seeking yield-generating opportunities in the cryptocurrency market.

拟议的规则更改将使Bitwise的Ether ETF能够参与放入过程，锁定其以太持有量以验证以太坊网络上的交易并为此服务获得奖励。这将增强ETF对寻求加密货币市场中产生产生机会的投资者的吸引力。

The proposal outlines the types of staking activity that the ether ETF may undertake, emphasizing that it must be consistent with the ETF's investment mandate and legal obligations.

该提案概述了Ether ETF可能从事的放电活动类型，强调必须与ETF的投资授权和法律义务一致。

"The Trust will not engage in any staking activity unless and until (i) such activity is permitted by applicable U.S. federal securities law and (ii) the Trust determines that it can undertake such activity in a manner that complies with applicable law and the Trust's obligations as a fiduciary and otherwise in the best interest of the Trust's unitholders," stated NYSE Arca.

“除非和（i）适用的美国联邦证券法允许此类活动，否则该信托不会从事任何积累活动，并且（ii）信托决定它可以以符合适用的律师和信托作为受托人的义务，否则以信托的最大利益而从事此类活动，” NYSE ARCA。”

Shift in Regulatory Landscape: From Antagonism to Acceptance

监管景观的转变：从对抗到接受

The prospect of staking for Ethereum ETFs marks a significant shift in the regulatory landscape. Last year, under the leadership of Gary Gensler, the SEC adopted a more antagonistic stance towards cryptocurrencies, and the possibility of allowing staking for Ethereum ETFs seemed bleak.

以太坊ETF的赌注的前景标志着监管景观的重大转变。去年，在加里·贡斯勒（Gary Gensler）的领导下，SEC对加密货币采取了更具对立的立场，允许允许以太坊ETF队率的可能性似乎是黯淡的。

However, with a more crypto-friendly government in place, the consensus appears to be that ETFs could soon be allowed to stake. This shift in regulatory sentiment is likely to accelerate the adoption of cryptocurrencies and foster innovation in the digital asset space.

但是，有了一个更加加密友好的政府，共识似乎很快就可以允许ETF持有。监管情绪的这种转变很可能会加速采用加密货币并促进数字资产领域的创新。

The SEC's potential approval of the proposed rule changes would signal a significant step towards regulatory clarity and acceptance of staking as a legitimate activity for Ethereum ETFs. This would create a more level playing field for these investment vehicles, allowing them to compete with other yield-generating opportunities in the cryptocurrency market.

SEC对拟议规则更改的潜在批准将指出朝着调节性清晰度和接受作为以太坊ETF的合法活动的重要一步。这将为这些投资工具创造一个更高的竞争环境，使他们能够与加密货币市场中的其他产生机会竞争。

"The Commission notes that, in recent years, there has been growing interest in investing in digital assets, and the SEC has taken steps to facilitate this

“委员会指出，近年来，人们对投资数字资产的兴趣越来越多，而SEC已采取措施来促进这一措施