BlackRock將其BTC ETF（Ishares Bitcoin Trust（IBIT））納入其模型組合中

當比特幣ETF面臨一系列資本外流時，貝萊德通過合併其BTC ETF採取了違反直覺的方法，iShares比特幣信託（IBIT）

As Bitcoin ETFs continue to face capital outflows, BlackRock is taking a counterintuitive approach by incorporating its BTC ETF, the iShares Bitcoin Trust (IBIT), into its model portfolios. A first for the asset management giant, which could spark a domino effect among its competitors. But what exactly is this strategy encompassing?

隨著比特幣ETF繼續面對資本流出，貝萊德通過將其BTC ETF（ISHARES BITCOIN TRUST（IBIT））納入其模型投資組合中，採取了違反直覺的方法。資產管理巨頭的第一個可能會激發其競爭對手之間的多米諾骨牌效應。但是，這種策略到底是什麼？

A Measured Yet Symbolic Breakthrough on Bitcoin ETFs

比特幣ETF的測量但像徵性的突破

With over $10 trillion in assets under management, BlackRock's choice of Bitcoin is no coincidence. IBIT's model, valued at $48 billion and holding nearly 576,046 BTC, is now entering its model portfolios, with an allocation of 1 to 2%.

由於管理的資產超過100萬億美元，貝萊德對比特幣的選擇絕非易事。 IBIT的車型價值為480億美元，持有近576,046 BTC，現在正在進入其模型投資組合，分配為1％至2％。

While this share may appear modest, it sends a strong signal to the market. According to James Seyffart, an ETF analyst at Bloomberg Intelligence, this decision could encourage other asset managers to follow suit. But the main question remains: will IBIT ever become part of BlackRock's main models? Some view it as a revolution, while others see it as a simple experiment. What's your take on this?

儘管此份額可能顯得適中，但它向市場傳達了強烈的信號。彭博情報公司ETF分析師詹姆斯·塞弗特（James Seyffart）表示，這一決定可以鼓勵其他資產經理效仿。但是主要的問題仍然存在：伊比特會成為貝萊德主要模型的一部分嗎？有些人將其視為一場革命，而另一些人則將其視為一個簡單的實驗。您對此有何看法？

BlackRock: A Strategic Game of Chess in the Crypto Market

貝萊德：加密貨幣市場中國際象棋的戰略遊戲

BlackRock's initiative goes beyond the speculative appeal of BTC. Michael Gates, head of allocation models at BlackRock, justifies this decision by presenting several strengths of Bitcoin: its scarcity, its status as a store of value, and its role as a hedge against dollar hegemony.

貝萊德的倡議超出了BTC的投機性吸引力。貝萊德（Blackrock）分配模型負責人邁克爾·蓋茨（Michael Gates）通過提出了幾種比特幣的優勢來證明這一決定：它的稀缺性，其作為價值存儲的地位以及作為對美元霸權的樹籬的作用。

“Collectively, these characteristics can provide unique and additive sources of diversification,” he writes in a note.

他在一份註釋中寫道：“總的來說，這些特徵可以提供獨特的多元化來源。”

The timing also favors the asset manager. Despite the recent drop in the BTC price to $79,000, regulations are easing and institutional interest in cryptos remains high. Some analysts believe that this decision could strengthen Bitcoin's adoption within major investment funds.

時間安排也有利於資產經理。儘管最近的BTC價格下跌至79,000美元，但法規正在放鬆，而對加密貨幣的機構興趣仍然很高。一些分析師認為，這一決定可以加強比特幣在主要投資基金中的採用。

However, the story is not so simple. As Keegan, a decentralized finance specialist, points out:

但是，這個故事並不是那麼簡單。正如分散的財務專家基甘（Keegan）指出的那樣：

“If realized, the flows may not shift the needle immediately, but the signal of risk reduction sent to other model managers, with over $5 trillion under management, is crucial.”

“如果意識到，流量可能不會立即轉移針，但是降低了向其他模型經理的風險降低信號，管理超過5萬億美元，這至關重要。”

Is BlackRock initiating a normalization of Bitcoin in institutional allocations? In short, it's no surprise that Michael Saylor is concerned about BlackRock's footprint in the crypto sphere. The CEO of MicroStrategy openly expresses his apprehension about the giant's appetite and urges investors not to yield their BTC to this financial behemoth. But it's important to note that BlackRock is not limited to BTC and ETH ETFs; it also offers a Bitcoin ETP in Europe, expanding its influence on the global crypto market. Could this be the beginning of a revolution?

貝萊德在製度分配中啟動了比特幣的歸一化嗎？簡而言之，邁克爾·塞勒（Michael Saylor）擔心貝萊德（BlackRock）在加密球體中的足跡也就不足為奇了。 MicroStrategy的首席執行官公開表示對巨人的胃口的擔心，並敦促投資者不要將其BTC屈服於這一金融巨頭。但重要的是要注意，貝萊德不僅限於BTC和ETH ETF。它還在歐洲提供了比特幣ETP，擴大了對全球加密市場的影響。這可能是革命的開始嗎？

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l'économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j'y étais pour quelque chose

區塊鍊和加密革命正在進行中！而那一天，將對這個世界上最脆弱的經濟感受到影響的那一天，我會說我在那裡是為了某事