新提议的 ETF 旨在将比特币融入传统金融

2024 年现货比特币交易所交易基金的成功催生了一些新的创意衍生品。

Several new exchange-traded fund (ETF) proposals aim to combine Bitcoin with traditional financial assets, offering a unique way to integrate crypto into mainstream markets.

几项新的交易所交易基金（ETF）提案旨在将比特币与传统金融资产结合起来，提供一种将加密货币融入主流市场的独特方式。

ProShares has proposed three ETFs that would provide Bitcoin-denominated returns on the S&P 500, Nasdaq-100, or gold prices. These ETFs would essentially take a long position in the respective stock indices or gold and a short position in USD/long BTC using Bitcoin futures.

ProShares 提议推出三款 ETF，以比特币计价，以标准普尔 500 指数、纳斯达克 100 指数或黄金价格提供回报。这些 ETF 实质上将持有各自股票指数或黄金的多头头寸，以及使用比特币期货的美元/多头 BTC 的空头头寸。

According to ETF Store president Nate Geraci, these funds can be described as “BTC hedged ETFs,” and they highlight how “Bitcoin is starting to eat traditional finance.”

ETF Store 总裁 Nate Geraci 表示，这些基金可以被描述为“比特币对冲 ETF”，它们强调了“比特币正在开始蚕食传统金融”。

Another proposed ETF, the REX Bitcoin Corporate Treasury Convertible Bond ETF, would invest in convertible bonds issued by companies like MicroStrategy. These bonds can be swapped for shares of the company's stock if its value rises.

另一项拟议的 ETF 是 REX 比特币企业国库可转换债券 ETF，将投资于 MicroStrategy 等公司发行的可转换债券。如果公司股票价值上涨，这些债券可以交换为公司股票。

This debt strategy has been successful for MicroStrategy, which has used it to increase its Bitcoin holdings and boost its stock price by about 2,000% since 2020.

这种债务策略对于 MicroStrategy 来说是成功的，自 2020 年以来，该公司利用该策略增加了比特币持有量，并将其股价推高了约 2,000%。

Other companies, like MARA Holdings, have also raised funds through convertible bonds to buy Bitcoin. MARA currently holds over 40,000 Bitcoins.

MARA Holdings 等其他公司也通过可转换债券筹集资金购买比特币。 MARA 目前持有超过 40,000 个比特币。

Another ETF proposal from Bitwise would track publicly listed companies holding Bitcoin, such as MicroStrategy, Block, and Tesla, with the aim of targeting companies stacking Bitcoin as a reserve asset.

Bitwise 的另一项 ETF 提案将追踪持有比特币的上市公司，例如 MicroStrategy、Block 和 Tesla，其目标是将比特币作为储备资产的公司。