加密货币 ETF 的兴起如何重塑金融格局

全球投资者开始认识到金融和技术领域的潮流正在发生变化。虽然传统市场仍然以几十年前的做法为主，但加密货币交易所交易基金 (ETF) 的引入和增长，如 CoinShares Valkyrie 比特币和以太策略 ETF (BTF)，正在开辟一条通向相互融合的未来的道路传统资产与数字创新。

Fresh from the recent U.S. election results, the cryptocurrency market is abuzz with optimism over potential regulatory changes. Both bitcoin and ether have seen notable price increases, energizing the market, especially among crypto investors. Among these developments, the CoinShares Valkyrie Bitcoin and Ether Strategy ETF (BTF) has garnered attention with its dynamic chart action, as analyzed on platforms like YCharts.

从最近的美国大选结果来看，加密货币市场对潜在的监管变化充满了乐观情绪。比特币和以太币的价格均显着上涨，为市场注入活力，尤其是在加密货币投资者中。在这些发展中，CoinShares Valkyrie 比特币和以太策略 ETF (BTF) 因其动态图表行为而受到关注，如 YCharts 等平台上的分析所示。

BTF recently marked three years since its inception in 2021, having gathered assets under management (AUM) amounting to $43 million. The actively managed ETF employs a unique strategy by investing in bitcoin and ether futures, along with a diversified portfolio including Treasuries, corporate bonds, and cash, rather than direct investments in cryptocurrencies.

BTF 自 2021 年成立以来，最近已满三周年，管理资产 (AUM) 已达 4,300 万美元。该主动管理型ETF采用独特的策略，投资比特币和以太坊期货，以及包括国债、公司债券和现金在内的多元化投资组合，而不是直接投资加密货币。

This fund leverages front-month futures contracts through its Cayman Islands subsidiary, providing a level of exposure to digital currencies before the advent of spot ETFs. Advisors and investors curious about cryptocurrencies may view BTF as a viable entry point, especially for those who are interested but hesitant to dive fully into the crypto waters.

该基金通过其开曼群岛子公司利用近月期货合约，在现货 ETF 出现之前提供一定程度的数字货币敞口。对加密货币感到好奇的顾问和投资者可能会将 BTF 视为一个可行的切入点，特别是对于那些有兴趣但又犹豫是否要完全投入加密领域的人来说。

Recently, BTF’s price has shown a strong climb, surpassing its 200- and 50-day simple moving averages, suggesting strong momentum. This upward trajectory, paired with a striking 34.8% return over the past month and an 87% increase over the year, presents an enticing option for those eager to explore the crypto realm.

最近，BTF 的价格强劲攀升，超过了 200 日和 50 日简单移动平均线，表明势头强劲。这种上升轨迹，加上过去一个月惊人的 34.8% 回报率和全年 87% 的增长，为那些渴望探索加密领域的人提供了一个诱人的选择。

Stay informed on the latest developments by visiting our Crypto Channel for extensive news and analysis.

请访问我们的加密货币频道以获取广泛的新闻和分析，了解最新动态。

How the Rise of Crypto ETFs is Reshaping the Financial LandscapeInvestors around the globe are beginning to recognize a shifting tide in the realms of finance and technology. While traditional markets continue to be dominated by decades-old practices, the introduction and growth of cryptocurrency exchange-traded funds (ETFs), like the CoinShares Valkyrie Bitcoin and Ether Strategy ETF (BTF), are forging a path toward an interconnected future that merges conventional assets with digital innovations.

加密货币 ETF 的兴起如何重塑金融格局全球投资者开始认识到金融和技术领域的潮流正在发生变化。虽然传统市场仍然以几十年前的做法为主，但加密货币交易所交易基金 (ETF) 的引入和增长，如 CoinShares Valkyrie 比特币和以太策略 ETF (BTF)，正在开辟一条通向相互融合的未来的道路传统资产与数字创新。

Breaking Down the Crypto ETF PhenomenonCrypto ETFs, which are investment funds that trade on stock exchanges much like regular stocks, offer the chance to invest in a diversified portfolio without buying cryptocurrencies directly. This is becoming increasingly attractive for individuals and organizations averse to the risks associated with direct crypto investments. While the BTF fund, for instance, doesn’t invest directly in crypto, it leverages futures contracts to provide exposure to bitcoin and ether, thus representing a significant bridge between traditional investments and digital assets.

打破加密 ETF 现象加密 ETF 是一种在证券交易所交易的投资基金，就像普通股票一样，提供了投资多元化投资组合的机会，而无需直接购买加密货币。对于厌恶直接加密投资相关风险的个人和组织来说，这变得越来越有吸引力。例如，虽然 BTF 基金并不直接投资于加密货币，但它利用期货合约来提供比特币和以太币的敞口，从而代表了传统投资和数字资产之间的重要桥梁。

Implications for Investors and EconomiesAdvantages:

对投资者和经济体的影响优点：

1. Risk Management: By investing in crypto futures and a mix of other assets like bonds and cash, ETFs such as BTF allow investors to mitigate direct exposure risk to volatile digital currencies.

1. 风险管理：通过投资加密货币期货以及债券和现金等其他资产的组合，BTF 等 ETF 可以让投资者减轻对波动性数字货币的直接暴露风险。

2. Market Accessibility: Crypto ETFs democratize access to the world of digital currencies, allowing even hesitant investors to partake without an extensive knowledge of blockchain technology.

2. 市场可及性：加密货币 ETF 使进入数字货币世界变得民主化，即使是犹豫不决的投资者也可以在没有广泛了解区块链技术的情况下参与其中。

3. Regulatory Benefits: Given the structured nature of ETFs, these financial products are often seen as more secure and transparent compared to direct crypto investments.

3. 监管优势：鉴于 ETF 的结构化性质，与直接加密投资相比，这些金融产品通常被视为更安全和透明。

Disadvantages:

缺点：

1. Indirect Ownership: Investors aren’t buying the actual cryptocurrencies, which means they miss out on potential profits from price changes in the spot market.

1. 间接所有权：投资者没有购买实际的加密货币，这意味着他们错过了现货市场价格变化的潜在利润。

2. Complex Structures: The use of derivative contracts can be complex and may not fully capture the potential gains of direct crypto investing.

2. 复杂的结构：衍生品合约的使用可能很复杂，并且可能无法完全捕捉直接加密货币投资的潜在收益。

3. Regulatory Risks: Although currently positioned as a regulatory safety net, unforeseen changes in financial regulations could challenge the integrity of crypto ETFs.

3. 监管风险：尽管目前被定位为监管安全网，但金融监管中不可预见的变化可能会挑战加密货币 ETF 的完整性。

Impact on Local and Global CommunitiesCrypto ETFs have the potential to influence both local and global financial ecosystems in several ways. For local investors, they provide an avenue to access global markets and diversify portfolios beyond geographical confines. Globally, the rise of such funds could encourage cross-border financial activity, fostering a more interconnected economic landscape.

对本地和全球社区的影响加密 ETF 有可能以多种方式影响本地和全球金融生态系统。对于本地投资者来说，它们提供了进入全球市场并超越地域限制实现投资组合多元化的途径。在全球范围内，此类基金的兴起可能会鼓励跨境金融活动，从而培育更加相互关联的经济格局。

However, questions linger about the environmental impact of cryptocurrencies, including the energy-intensive processes involved in mining bitcoins and ether. As more countries consider green energy policies, the role of crypto ETFs in promoting digital currencies raises interesting debates regarding sustainability.

然而，关于加密货币对环境影响的问题仍然存在，包括开采比特币和以太币所涉及的能源密集型过程。随着越来越多的国家考虑绿色能源政策，加密货币 ETF 在推广数字货币方面的作用引发了有关可持续性的有趣争论。

What’s Next for Crypto ETFs?As the market continues to evolve, will crypto ETFs take a predominant role in shaping investment strategies? Are they merely a stepping stone toward full-fledged acceptance of cryptocurrencies in institutional finance? Investors and policymakers alike need to contemplate the future trajectory.

加密货币 ETF 的下一步是什么？随着市场的不断发展，加密货币 ETF 会在制定投资策略方面发挥主导作用吗？它们仅仅是机构金融领域全面接受加密货币的垫脚石吗？投资者和政策制定者都需要思考未来的轨迹。

Ultimately, as more traditional financial institutions and countries recognize these digital assets’ value, the role of crypto ETFs is poised to expand, influencing regulations and potentially paving the way for other innovative products.

最终，随着越来越多的传统金融机构和国家认识到这些数字资产的价值，加密货币 ETF 的作用必将扩大，影响监管并可能为其他创新产品铺平道路。

For further details about cryptocurrency developments and finance news, visit CoinShares or Valkyrie. These platforms provide additional resources and insights into the ongoing integration of crypto technologies within the financial sector.

有关加密货币发展和财经新闻的更多详细信息，请访问 CoinShares 或 Valkyrie。这些平台为加密技术在金融领域的持续整合提供了额外的资源和见解。