到2026年，數十億美元流入比特幣

Crypto指數經理BITWISE預測的一份新報告稱，到2025年底，資本流入比特幣可能會超過1,200億美元，並在2026年上漲至3000億美元。

Crypto index fund manager Bitwise has predicted that capital flows into Bitcoin could exceed $120 billion by the end of 2025, potentially reaching $300 billion in 2026.

Crypto Index基金經理BITWISE預測，到2025年底，資本流入比特幣可能會超過1,200億美元，在2026年可能達到3000億美元。

This growth is expected to be driven by increasing interest from sovereign wealth funds, public corporations, state treasuries, and institutional vehicles like exchange-traded funds (ETFs).

預計這種增長將由主權財富基金，公共公司，州國庫和諸如交易所交易資金（ETF）等機構工具的利益越來越多。

As BTC continues to mature, Bitwise argues that it is no longer just a speculative asset. Instead, it is becoming a serious contender as a global store of value. The report notes that there is a structural shift happening—wealth is gradually moving away from traditional safe havens like gold and flowing into BTC.

隨著BTC繼續成熟，Bitwise認為，它不再只是投機性資產。取而代之的是，它正在成為一個認真的競爭者，作為全球價值存儲。該報告指出，發生結構性轉變 - 衛生正在逐漸擺脫諸如黃金之類的傳統避風港，流入BTC。

“[There has been] an astounding lack of interest in Bitcoin from the U.S. institutional sector in 2024,” begins the report.

該報告說：“ [2024年，美國機構部門對比特幣缺乏興趣。”

“But that is quickly changing. In total, U.S. Bitcoin ETFs have now attracted over $36.2 billion in net flows in 2024.”

“但這很快發生了變化。總共，美國比特幣ETF在2024年吸引了超過362億美元的淨流量。”

This dwarfs the early performance of SPDR Gold Shares (GLD)—the most successful commodity ETF in history—which generated $1.7 billion in net yearly inflows at its peak.

這使SPDR Gold股票（GLD）的早期表現（歷史上最成功的商品ETF）相形見war，產生了17億美元的年度淨流入量。

“The early performance of U.S. Bitcoin ETFs has outpaced the best year of GLD by a factor of 20,” adds Bitwise.

“美國比特幣ETF的早期表現使GLD最好的一年超過20倍，” Bitwise補充道。

Within a year, U.S. Bitcoin ETFs have crossed the $125 billion threshold in assets under management (AUM), showcasing deepening interest from both retail and institutional investors. Bitwise projects that these annual inflows could reach $100 billion by 2027.

在一年之內，美國比特幣ETF越過了管理資產（AUM）的1250億美元門檻，展示了零售和機構投資者的興趣加深。比特預測，到2027年，這些年度流入可能會達到1000億美元。

However, around $35 billion in capital remained sidelined in 2024 due to compliance restrictions at major financial institutions like Morgan Stanley and Goldman Sachs. These firms are expected to loosen their policies as Bitcoin ETFs continue to demonstrate resilience.

然而，由於摩根士丹利和高盛（Goldman Sachs）等主要金融機構的合規限制，大約350億美元的資本剩餘。隨著比特幣ETF繼續證明彈性，這些公司有望放鬆其政策。

Institutions and Governments Are Pivoting to Bitcoin

機構和政府正在向比特幣樞紐

Beyond Wall Street, Bitwise highlights Bitcoin’s growing appeal to public companies, which currently hold over 1.1 million BTC, valued at more than $125 billion. Meanwhile, sovereign governments hold over 500,000 BTC collectively, with the U.S., China, and the U.K. leading the way.

除了華爾街之外，Bitwise還強調了比特幣對目前擁有超過110萬BTC的上市公司的呼籲，價值超過1,250億美元。同時，主權政府共同持有超過500,000 BTC，美國，中國和英國領先。

In its base case scenario, Bitwise envisions a modest reallocation of institutional and sovereign assets into Bitcoin—just 5% of gold reserves by governments and 0.5% of assets from major wealth platforms. Even under these conservative assumptions, total Bitcoin inflows could reach $420 billion over 2025–2026.

在基本案例的情況下，BitWise設想了將機構和主權資產的適度重新分配到比特幣中，僅政府提供了5％的黃金儲備，而來自主要財富平台的0.5％的資產。即使在這些保守的假設下，在2025 - 2026年期間，總比特幣流入量也可能達到4200億美元。

In a more aggressive bull case, with 10% of gold holdings and 1% of managed portfolios shifting into BTC, inflows could surge past $426 billion, absorbing more than 4 million BTC—around 15% of total supply.

在更具侵略性的公牛案中，有10％的黃金持有量和1％的託管投資組合轉移到BTC中，流入可能會激增超過4260億美元，吸收了超過400萬BTC，佔總供應的15％。

This projected capital shift not only deepens institutional trust in Bitcoin but also indicates a broader financial transformation that could redefine the role of digital assets globally.

這種預計的資本轉移不僅加深了對比特幣的機構信任，而且還表明了更廣泛的財務轉型，可以重新定義全球數字資產的作用。