一波机构采用的新一波通过比特币生态系统席卷

领导早期SBTC采用者的指控是行业重量级UTXO管理，SNZ和Jump Crypto

A new wave of institutional adoption is sweeping through the Bitcoin ecosystem as Stacks, a prominent Bitcoin Layer 2 solution, celebrates the rapid uptake of its decentralized, Bitcoin-backed asset, sBTC.

作为一个著名的比特币第2层解决方案堆栈的机构采用浪潮正在通过比特币生态系统席卷，庆祝了其分散的，比特币支持的资产SBTC的快速吸收。

Among the early sBTC adopters are UTXO Management, SNZ, and Jump Crypto. UTXO Management, known for its venture arm's support of top Bitcoin companies and liquid fund 210k Capital, has included sBTC in its broader Bitcoin strategy, deploying capital across public and private markets.

早期的SBTC采用者包括UTXO管理，SNZ和Jump Crypto。 UTXO管理以其风险投资对顶级比特币公司和Liquid Fund 210k Capital的支持而闻名，已将SBTC包括在其更广泛的比特币战略中，在公共和私人市场中部署了资本。

Jump Crypto, a division of Jump Trading Group, brings its expertise as a quantitative trading firm and infrastructure builder to bear in the crypto space.

Jump Crypto是Jump Trading Group的一个部门，它将其作为定量贸易公司和基础设施建设者的专业知识置于加密货币领域。

SNZ, a crypto-native investment firm with a presence in Hong Kong, Singapore, and the US, continues its support for Bitcoin innovation, having been an early investor in Stacks and other public blockchains in Asia.

SNZ是一家加密本地投资公司，在香港，新加坡和美国拥有业务，继续对比特币创新的支持，他是亚洲堆栈和其他公共区块链的早期投资者。

Other notable participants include CMS Holdings, an active investor in Bitcoin scaling ventures; RootstockLabs, a pioneer behind the Rootstock sidechain; Sypher Capital, focused on generating native Bitcoin yield; and Asymmetric Research, a security partner to major protocols like Solana and Wormhole.

其他值得注意的参与者包括CMS Holdings，这是一个活跃的比特币规模投资者； rootstocklabs，rootstock sidechain背后的先驱； Sypher Capital，专注于产生本地比特币产量；以及不对称研究，是Solana和虫洞等主要协议的安全合作伙伴。

Together, these institutions highlight the broad appeal of sBTC to diverse members of the crypto community, from traders and investors to technical developers and security researchers.

这些机构共同强调了SBTC对加密社区的不同成员的广泛吸引力，从交易者和投资者到技术开发人员和安全研究人员。

Rising enthusiasm for sBTC

SBTC的热情不断提高

Launched on the Stacks mainnet in December 2024, sBTC has quickly become a key player in the tokenized Bitcoin space, enabling programmable smart contracts and transactions secured by Bitcoin's robust infrastructure.

SBTC于2024年12月在Mainnet上推出，SBTC迅速成为标记比特币领域的关键参与者，从而实现了可编程的智能合约和由比特币强大的基础架构确保的可编程智能合约和交易。

The enthusiasm for sBTC was evident from the start, with its initial capacity cap filled by a roster of influential depositors, prompting a second cap raise that tripled availability on February 25th.

SBTC的热情从一开始就显而易见，其最初的容量上限由有影响力的存款人填充，这促使第二次上限提高了2月25日的三倍。

Remarkably, this expanded capacity was fully subscribed in less than 24 hours, showcasing surging demand from institutions, wealth managers, builders, and retail investors.

值得注意的是，这种扩展的产能在不到24小时的时间内得到了充分的认可，这表明了机构，财富管理人员，建筑商和零售投资者的需求激增。

Among the standout sBTC use cases driving this momentum is Zest, a fast-growing application that has already captured nearly 40% of the sBTC within the protocol, highlighting the asset's immediate usability and appeal.

在驱动此势头的杰出SBTC用例中，Zest是一个快速增长的应用程序，已经在协议中捕获了近40％的SBTC，突出了资产的直接可用性和吸引力。

For Bitcoin enthusiasts, sBTC represents a bridge between the cryptocurrency's unparalleled security and the dynamic possibilities of decentralized finance (DeFi).

对于比特币爱好者，SBTC代表了加密货币无与伦比的安全性与分散融资的动态可能性之间的桥梁（DEFI）。

Unlike traditional staking or locking of Bitcoin on its base layer, sBTC activates capital by enabling a wide range of financial applications, such as yield generation, lending, and decentralized exchanges.

与传统的比特币在基础层上锁定或锁定比特币不同，SBTC通过实现广泛的财务应用（例如产量产生，贷款和分散交易所）来激活资本。

Alex Miller, CEO of Hiro, a developer tooling company within the Stacks ecosystem, emphasized the growing adoption of sBTC provides essential liquidity for developers building and scaling applications.

堆栈生态系统中开发人员工具公司Hiro的首席执行官Alex Miller强调，SBTC的采用日益增长为开发人员的建设和扩展应用提供了必不可少的流动性。

"We're seeing a natural progression as DeFi institutions and institutions in broader financial markets recognize the potential of sBTC," Miller said.

米勒说：“我们认为自然的进步是在更广泛的金融市场中的挑战机构和机构认识到SBTC的潜力。”

Notably, the rise of sBTC comes amid a broader surge in Bitcoin Layers, which have seen their total value locked (TVL) increase by over 460% in the past year.

值得注意的是，SBTC的兴起是在比特币层的激增中出现的，在过去的一年中，其总价值锁定（TVL）增加了460％以上。

CoinGecko data shows that TVL in Bitcoin Layers rose from approximately $500 million in 2024 to $2.8 billion by February 2025.

Coingecko数据显示，比特币层的TVL从2024年的约5亿美元增加到2025年2月的28亿美元。

This growth reflects a growing recognition among Bitcoin (BTC) holders that Layer 2 solutions like Stacks can enhance functionality without compromising the core principles of security and decentralization.

这种增长反映了比特币（BTC）持有人的认识日益认识，即堆栈等第2层解决方案可以增强功能性，而不会损害安全性和权力下放的核心原则。

With tokenized Bitcoin assets now accounting for 1.67% of BTC's circulating supply, the highest level since October 2022, sBTC is poised to play a central role in this evolving narrative.

现在，由于标记比特币资产占BTC循环供应量的1.67％，这是2022年10月以来的最高水平，因此SBTC准备在这种不断发展的叙述中发挥核心作用。

Looking ahead, Stacks is preparing to roll out withdrawal functionality for sBTC in March 2025, a milestone that will further solidify its utility.

展望未来，Stacks准备在2025年3月推出SBTC的撤回功能，这是一个将进一步巩固其实用程序的里程碑。

As the leading Bitcoin Layer 2 by developer traction and market cap, Stacks is driving a movement to transform Bitcoin's $1 trillion in passive capital into a fully programmable, productive asset.

作为开发人员牵引力和市值的领先比特币第2层，堆栈正在推动将比特币的1万亿美元被动资本转变为完全可编程的生产资产的运动。

With support from top staking providers, custodians, and ecosystems like Solana and Aptos, sBTC is not just connecting Bitcoin to DeFi—it's paving the way for a future where all roads in crypto lead back to Bitcoin.

在索拉纳（Solana）和Aptos（例如Solana and Aptos）（例如Solana and Aptos）等顶级股份提供商，保管人和生态系统的支持下，SBTC不仅将比特币连接到Defi，还为未来的未来铺平了道路，在这种情况下，加密货币的所有道路都带回了比特币。