现货以太坊 ETF：推动以太坊的崛起

现货比特币 ETF 推动了比特币的增长，吸引了数十亿美元，并为其他加密货币的类似 ETF 奠定了基础。以太坊是按市值计算的第二大代币，由于其在去中心化金融（DeFi）中的作用以及使投资者能够赚取费用的独特质押机制，使其成为潜在的有吸引力的投资机会，因此吸引了潜在现货 ETF 的关注。

Spot Ethereum Exchange-Traded Funds: A Catalyst for Ethereum's Growth

现货以太坊交易所交易基金：以太坊增长的催化剂

Introduction

介绍

The emergence of spot Bitcoin exchange-traded funds (ETFs) has had a profound impact on the cryptocurrency market, bringing billions of dollars of investment and propelling Bitcoin to new heights. These ETFs, the first of their kind, have enabled equity investors to gain direct exposure to cryptocurrencies and have sparked discussions around similar ETFs for other top tokens, with Ethereum ETFs at the forefront.

现货比特币交易所交易基金（ETF）的出现对加密货币市场产生了深远影响，带来了数十亿美元的投资，并将比特币推向了新的高度。这些 ETF 是同类中的首创，使股票投资者能够直接投资加密货币，并引发了围绕其他顶级代币的类似 ETF 的讨论，其中以太坊 ETF 处于最前沿。

Ethereum: A Platform for Decentralized Finance

以太坊：去中心化金融平台

Ethereum, the second-largest token by market capitalization, serves as a platform for decentralized finance (DeFi), providing access to a wide range of blockchain-based applications, including AI tokens, meme coins, and more. Its strong ecosystem and growing popularity have led to increased interest in Ethereum ETFs.

以太坊是按市值计算的第二大代币，它是去中心化金融 (DeFi) 的平台，提供对各种基于区块链的应用程序的访问，包括人工智能代币、模因币等。其强大的生态系统和日益普及导致人们对以太坊 ETF 的兴趣增加。

Regulatory Landscape and Market Demand

监管环境和市场需求

Applications for Ethereum ETFs were submitted throughout 2023, but they were overshadowed by Bitcoin ETFs in discussions with the U.S. Securities and Exchange Commission (SEC). However, with the approval of Bitcoin ETFs, regulators and potential sponsors are now focusing on ETH ETF discussions.

以太坊 ETF 的申请于 2023 年全年提交，但在与美国证券交易委员会 (SEC) 的讨论中，其光芒被比特币 ETF 所掩盖。然而，随着比特币 ETF 的批准，监管机构和潜在赞助商现在将重点放在 ETH ETF 讨论上。

Analysts widely believe that Ethereum ETFs will be approved, citing the precedent set by Bitcoin ETFs and the strong investor demand for Ethereum exposure. The approval of ETH ETFs is thus seen as a matter of time, rather than a question of if.

分析师普遍认为，以太坊 ETF 将会获得批准，理由是比特币 ETF 开创的先例以及投资者对以太坊敞口的强劲需求。因此，ETH ETF 的批准被视为时间问题，而不是是否的问题。

Unique Characteristics of Ethereum

以太坊的独特特征

Ethereum possesses unique characteristics that make it particularly appealing for investors. Its consensus mechanism allows users to stake tokens in exchange for fees, a process similar to stock lending that generates additional income for token holders.

以太坊具有独特的特征，使其对投资者特别有吸引力。其共识机制允许用户通过抵押代币来换取费用，这一过程类似于股票借贷，可以为代币持有者带来额外收入。

"The market for investors seeking cash-producing assets is significant, and ETH generates fees that are distributed to token holders," said VanEck Portfolio Manager Pranav Kanade.

VanEck 投资组合经理 Pranav Kanade 表示：“对于寻求现金产出资产的投资者来说，市场非常巨大，而 ETH 会产生费用并分配给代币持有者。”

Market Outlook and Investment Potential

市场前景及投资潜力

VanEck, which launched a Bitcoin ETF in January, has also applied for an Ethereum ETF. Kanade expressed confidence in ETH's ability to attract investors, stating that "the market size for a spot ETH ETF could potentially be as large as, if not larger than, the spot Bitcoin ETFs."

VanEck 在 1 月份推出了比特币 ETF，也申请了以太坊 ETF。 Kanade 对 ETH 吸引投资者的能力充满信心，并表示“现货 ETH ETF 的市场规模可能与现货比特币 ETF 一样大，甚至更大。”

Spot Bitcoin ETFs have been highly successful, attracting more investment than any other ETF in their initial months of launch. Market sentiment seems to align with Kanade's optimism, as Ethereum has surged over 100% in the past six months. Tokens focused on staking, a key aspect of ETH, have also experienced significant price increases.

现货比特币 ETF 非常成功，在推出的最初几个月就吸引了比任何其他 ETF 都多的投资。市场情绪似乎与 Kanade 的乐观情绪一致，因为以太坊在过去六个月中飙升了 100% 以上。专注于质押（ETH 的一个关键方面）的代币也经历了大幅价格上涨。

Conclusion

结论

Spot Ethereum ETFs are poised to become a major catalyst for Ethereum's growth, combining the appeal of direct cryptocurrency exposure with the benefits of staking. With the support of analysts, potential sponsors, and an eager investor base, ETH ETFs are expected to revolutionize the cryptocurrency market and create an ETF sector potentially larger than that of Bitcoin.

现货以太坊 ETF 将直接投资加密货币的吸引力与质押的好处结合起来，有望成为以太坊增长的主要催化剂。在分析师、潜在赞助商和热切投资者基础的支持下，ETH ETF 预计将彻底改变加密货币市场，并创建一个可能比比特币规模更大的 ETF 行业。