BlackRock和Crypto ETF景觀：沒有XRP（尚未！），但是接下來是什麼？

BlackRock並沒有跳上XRP ETF潮流，但他們的比特幣ETF成功暗示了更大的加密遊戲。這對加密ETF的未來意味著什麼？

BlackRock and the Crypto ETF Landscape: No XRP (Yet!), But What's Next?

BlackRock和Crypto ETF景觀：沒有XRP（尚未！），但是接下來是什麼？

BlackRock's spot Bitcoin ETF success has been transformative, but they're pumping the brakes on an XRP ETF. What does this mean for the crypto ETF market?

BlackRock的斑點比特幣ETF成功是有變革性的，但他們正在將XRP ETF的剎車吹進。這對加密ETF市場意味著什麼？

BlackRock's Stance: Bitcoin and Ethereum First

貝萊德的立場：比特幣和以太坊首先

Despite Ripple's legal victory and the buzz around XRP, BlackRock has confirmed they aren't filing for an XRP ETF or a Solana ETF anytime soon. They're sticking with Bitcoin and Ethereum for now. As BlackRock told The Block, they currently have "no plans to submit applications for either product." This news came as a surprise to many, especially after the resolution of the Ripple case, which many thought would clear the path for an XRP ETF.

儘管Ripple的法律勝利和XRP的嗡嗡聲，BlackRock已確認他們不會很快申請XRP ETF或Solana ETF。他們現在堅持使用比特幣和以太坊。正如貝萊德告訴街區的那樣，他們目前“沒有計劃提交任何兩種產品的申請”。這一消息令許多人感到驚訝，尤其是在解決波紋案件之後，許多人認為這會清除XRP ETF的道路。

Why the Hesitation on XRP?

為什麼在XRP上猶豫？

The reasons behind BlackRock's decision are complex. Some speculate that they don't see enough U.S. demand for an XRP ETF, while others point to the regulatory uncertainties that still linger around cryptocurrencies beyond Bitcoin and Ethereum. It's also possible that BlackRock is simply playing it safe, focusing on the two largest and most established cryptocurrencies before venturing into riskier territory. They've found success with the Bitcoin ETF, so why mess with a good thing?

貝萊克決定背後的原因很複雜。有些人推測，他們沒有看到足夠多的我們對XRP ETF的需求，而另一些人則指出了仍在圍繞比特幣和以太坊的加密貨幣徘徊的監管不確定性。貝萊德也可能只是安全地發揮作用，重點是在冒險進入風險更高的領土之前，重點介紹了兩個最大，最確立的加密貨幣。他們已經找到了比特幣ETF的成功，那麼為什麼要弄亂一件好事呢？

The ETF Landscape: A Missed Opportunity?

ETF景觀：錯過的機會？

Nate Geraci, president of NovaDius Wealth, thinks BlackRock is making a mistake. He argues that by avoiding an XRP ETF, they're leaving the door open for competitors to dominate that category. Bloomberg Intelligence’s Eric Balchunas even questioned where ETF expansion should stop if XRP gets the green light, mentioning Solana and Tron as potential contenders. Several companies, including ProShares, 21Shares, Canary, and Bitwise, already have pending XRP ETF applications before the SEC. Will BlackRock regret sitting this one out?

諾瓦迪烏斯財富總裁內特·格拉奇（Nate Geraci）認為貝萊德（Blackrock）正在犯錯。他認為，通過避免XRP ETF，他們正在為競爭對手打開大門，以佔據這一類別。彭博情報局的埃里克·巴爾庫納斯（Eric Balchunas）甚至質疑如果XRP獲得綠燈，將ETF擴展應在哪裡停止，並提到Solana和Tron是潛在的競爭者。包括Proshares，21shares，Canary和Bitwise在內的幾家公司已經在SEC之前已經有XRP ETF申請。貝萊德會後悔把這個嗎？

The Harvard Effect: Institutional Money Floods Bitcoin ETFs

哈佛大學效應：機構貨幣淹沒了比特幣ETF

BlackRock's iShares Bitcoin Trust (IBIT) has been a huge success, amassing $84 billion in assets under management. Harvard University even committed $120 million to the fund, signaling growing confidence in Bitcoin as an asset class. This move could be a catalyst for broader institutional adoption, further solidifying Bitcoin's position in the market. The ETF structure offers security, simplified access, and regulatory alignment, making it attractive to institutions.

貝萊德的iShares比特幣信託（IBIT）取得了巨大的成功，積累了840億美元的管理資產。哈佛大學甚至向該基金承諾了1.2億美元，這表明對比特幣作為資產類別的信心越來越多。這一舉動可能是更廣泛採用機構的催化劑，進一步鞏固了比特幣在市場上的地位。 ETF結構提供了安全性，簡化的訪問和法規對齊方式，使其對機構有吸引力。

Altcoin ETFs on the Horizon?

Altcoin ETF在地平線上？

With Bitcoin and Ethereum ETFs already making waves, the question is: what's next? The SEC's "Project Crypto" suggests a move towards fully onchain U.S. markets. While BlackRock isn't rushing into XRP or Solana ETFs, the success of Bitcoin and Ethereum ETFs could pave the way for other altcoins in the future. Regulatory clarity is key, but the potential for altcoin ETFs to disrupt classic crypto cycles is definitely there.

隨著比特幣和以太坊ETF已經在引起海浪，問題是：下一步是什麼？ SEC的“加密項目”表明，朝著全面的美國市場邁進。雖然貝萊德並沒有衝入XRP或Solana ETF，但比特幣和以太坊ETF的成功可能會在未來為其他山寨幣鋪平道路。監管清晰度是關鍵，但是Altcoin ETF肯定會破壞經典加密週期的潛力。

So, What Does This All Mean?

那麼，這全是什麼意思？

BlackRock's cautious approach to crypto ETFs highlights the ongoing tension between innovation and regulation in the crypto world. While they're not ready to embrace XRP just yet, their success with Bitcoin ETFs demonstrates the growing demand for regulated crypto investment vehicles. As the market matures and regulatory landscapes become clearer, expect to see more altcoin ETFs emerge, potentially reshaping the crypto investment landscape as we know it.

貝萊德對加密ETF的謹慎方法突出了加密世界中創新與監管之間持續的緊張關係。儘管他們還沒有準備好接受XRP，但他們在比特幣ETF上的成功表明了對受監管的加密投資工具的需求不斷增長。隨著市場的成熟和監管景觀變得更加清晰，期望看到更多的Altcoin ETF出現，並有可能重塑我們所知道的加密投資格局。

Who knows, maybe one day we'll see a Dogecoin ETF backed by Elon Musk himself. Until then, keep your eyes on the ETF approvals list – the next altcoin ETF could rewrite the rules forever!

誰知道，也許有一天我們會看到埃隆·馬斯克（Elon Musk）本人支持的狗狗ETF。在此之前，請關注ETF批准列表 - 下一個Altcoin ETF可以永遠重寫規則！