密歇根养老基金青睐以太坊 ETF 而不是 BTC

一份新的 13-F 文件显示，密歇根州退休系统持有大量以太坊 ETF。养老金机构持有46万股

The State of Michigan Retirement System disclosed in a new 13-F filing that it has a large stake in the Ethereum ETF. The pension agency had 460,000 shares in the Grayscale Ethereum Trust (ETHE). The stake was valued at over $10 million by the end of the third quarter.

密歇根州退休系统在一份新的 13-F 文件中披露，它拥有以太坊 ETF 的大量股份。该养老金机构持有灰度以太坊信托（ETHE）46万股。截至第三季度末，该股份价值超过 1000 万美元。

Michigan Pension Fund Prefers Ethereum ETF Over BTC

密歇根养老基金更喜欢以太坊 ETF 而不是 BTC

This new investment makes it the first pension fund to take such an action since the launch of Ethereum ETFs in the U.S.

这项新投资使其成为自美国推出以太坊 ETF 以来首个采取此类行动的养老基金

Moreover, the Michigan Pension Fund has become one of the top five holders of the fund. In addition to the ETHE stake, the agency had 460,000 shares in the Grayscale Ethereum Mini Trust ETF (ETH). Notably, its exposure to ETH amounted to around $1.1 million.

而且，密歇根养老基金已成为该基金前五名持有者之一。除了 ETHE 股份外，该机构还拥有灰度以太坊迷你信托 ETF (ETH) 的 460,000 股。值得注意的是，其 ETH 风险敞口约为 110 万美元。

As pointed out by Eric Balchunas, a Senior ETF analyst at Bloomberg, the Michigan Pension Funds’ Ether ETF holdings far outweighed its Bitcoin ETF holdings. Hence, he described it as a big win, which Ethereum needed.

正如彭博社高级 ETF 分析师 Eric Balchunas 指出的那样，密歇根养老基金的以太 ETF 持有量远远超过了比特币 ETF 持有量。因此，他将其描述为以太坊所需要的一场巨大胜利。

“Not only did Michigan’s pension buy ether ETFs, but they bought more than they did of bitcoin ETFs, $10 million vs $7 million, this despite BTC being up a ton and ether in the gutter,” Balchunas noted.

Balchunas 指出：“密歇根州的养老金不仅购买了以太坊 ETF，而且购买的金额也超过了比特币 ETF，分别为 1000 万美元和 700 万美元，尽管 BTC 价格上涨了很多，而以太坊已经跌入谷底。”

Reactions To Michigan Pension Fund Buildup

对密歇根养老基金建设的反应

Interestingly, one user noted that the Michigan Pension Fund’s decision to acquire more Ethereum ETFs than its Bitcoin counterpart did not alter the level of dominance between the two underlying cryptocurrencies. He highlighted that Bitcoin ETF products had a higher share of dominance, which was evident in the volume of inflows that it consistently recorded.

有趣的是，一位用户指出，密歇根养老基金购买的以太坊 ETF 数量多于比特币 ETF 的决定并没有改变两种基础加密货币之间的主导地位。他强调，比特币 ETF 产品拥有更高的主导地位，这从其持续记录的资金流入量中可以看出。

Several U.S. states and pension funds have shown an appetite for crypto-based investments over the past months. About six months ago, news emerged about the State of Wisconsin Investment Board’s exposure to a spot Bitcoin ETF. Notably, the board held up to $100 million of the product, which was approved by the U.S. SEC in January.

过去几个月，美国几个州和养老基金表现出了对基于加密货币的投资的兴趣。大约六个月前，有消息称威斯康星州投资委员会投资了现货比特币 ETF。值得注意的是，董事会持有该产品高达 1 亿美元的资金，该产品已于 1 月份获得美国 SEC 批准。

According to Florida’s Chief Financial Officer Jimmy Patronis, the state also had around $800 million in “crypto-related” investments. It even planned to increase the stash, although this move largely depended on the outcome of the upcoming presidential election, which was only hours away.

佛罗里达州首席财务官 Jimmy Patronis 表示，该州还有约 8 亿美元的“加密相关”投资。它甚至计划增加储备，尽管此举很大程度上取决于即将到来的总统选举的结果，而距离选举只有几个小时了。

Moreover, the State of Michigan Retirement System also disclosed owning around $7 million of a spot Bitcoin ETF.

此外，密歇根州退休系统还披露拥有约 700 万美元的现货比特币 ETF。

Growth Catalysts To Watch For Ethereum

以太坊值得关注的增长催化剂

Judging by the public’s reaction, it was clear that Ethereum had not yet reached its full potential, despite the launch of an ETF. For instance, ETH price was currently trading at $2,427.46, which was far from the $4,000 price that was anticipated for the coin. According to analysts, a few catalysts could propel ETH towards a price rally.

从公众的反应来看，尽管推出了 ETF，但以太坊显然尚未充分发挥其潜力。例如，ETH 目前的交易价格为 2,427.46 美元，与预期的 4,000 美元价格相去甚远。分析师表示，一些催化剂可能会推动 ETH 价格上涨。

The U.S. Federal Reserve is preparing to inject an estimated $800 billion in liquidity into the market. This move was expected to provide a significant boost to the second-largest cryptocurrency by market cap. Furthermore, the outcome of the elections could play a role in advancing Ethereum’s market position.

美联储正准备向市场注入约8000亿美元的流动性。预计此举将为市值第二大的加密货币带来显着提振。此外，选举结果可能会在提升以太坊的市场地位方面发挥作用。

Apart from this, the digital currency is undergoing intensive upgrades that could drive its adoption. Overall, its Layer-2 ecosystem could also contribute to making it more attractive for further ETF adoptions.

除此之外，数字货币正在进行密集升级，这可能会推动其采用。总体而言，其 Layer-2 生态系统也可能有助于使其对 ETF 的进一步采用更具吸引力。