BlackRock提出以太坊（ETH）交換貿易資金（ETF）以允許積累

世界上最大的資產經理貝萊德（Blackrock）已向美國證券交易委員會（SEC）提議允許在以太坊交易所交易基金（ETFS）中積累

The largest asset manager in the world, BlackRock, has proposed to the U.S. Securities and Exchange Commission (SEC) to permit staking within Ethereum Exchange-Traded Funds (ETFs), which is a revolutionary step for the cryptocurrency market.

世界上最大的資產經理貝萊德（Blackrock）已向美國證券交易委員會（SEC）提議允許在以太坊交易所交易基金（ETFS）中積累，這是加密貨幣市場的革命性步驟。

. This proposal has the potential to change the crypto investment landscape by turning Ethereum ETFs into yield-generating assets similar to bonds.

。該提案有可能通過將以太坊ETF變成類似於債券的產生產生資產來改變加密投資格局。

To allow the creation and redemption of ETF shares using ETH rather than USD, BlackRock is proposing to amend its S-1 filing. Using BlackRock’s $2.9 billion BUIDL fund, a tokenized fund that was introduced in March 2024 and concentrates on conventional assets like U.S. Treasury bills (T-bills) on the Ethereum network, this change seeks to combine staking and tokenization tactics.

為了允許使用ETH而不是USD的ETF共享創建和贖回，BlackRock提議修改其S-1歸檔。使用貝萊德（BlackRock）的29億美元Buidl基金，該基金於2024年3月推出，並集中於以太坊網絡上的美國國庫賬單（T-Bills）等傳統資產，這種變化旨在結合既定和標記策略。

The BUIDL fund is a prime example of BlackRock’s overarching plan to integrate decentralized systems with traditional finance, with Ethereum serving as a key component of this development.

Buidl基金是BlackRock的總體計劃的一個典型例子，該計劃將分散系統與傳統金融集成在一起，以太坊是這一發展的關鍵組成部分。

If permitted, staking in Ethereum ETFs could yield roughly 3.2% annually, per market research. This potential return is expected to attract significant institutional investment in Ethereum, giving investors the chance to benefit from both capital growth and passive income.

如果允許，根據市場研究，在以太坊ETF中佔用約3.2％。預計這種潛在的回報將吸引對以太坊的大量機構投資，這使投資者有機會從資本增長和被動收入中受益。

The market has already priced it in as investors await the SEC’s decision; over the past seven days, ETH has increased by nearly 40%, outpacing Bitcoin and other notable cryptocurrencies.

當投資者在等待SEC的決定時，市場已經定價。在過去的七天中，ETH增長了近40％，超過了比特幣和其他值得注意的加密貨幣。

The SEC has historically regarded staking as a potential unregistered security under the Howey Test, a legal framework used to determine whether an asset qualifies as an investment contract. Staking is specifically prohibited at launch for Ethereum Spot ETFs, which were approved by the SEC in May 2024. This has generated controversy in the financial community and has been a significant barrier to staking integration into ETFs.

SEC歷史上一直將Staking視為Howey測試下的潛在未註冊的安全性，該法律框架用於確定資產是否符合投資合同的資格。在Ethereum Sot ETF的發布會上特別禁止Staking，該產品在2024年5月獲得了SEC批准。這引起了金融界引起的爭議，並且是將其納入ETF的重大障礙。

A more crypto-friendly SEC in 2025 appears to be examining these restrictions and potentially paving the way for regulatory approval, based on updates on SEC.gov.

根據SEC.GOV的更新，在2025年更加加密友好的SEC似乎正在研究這些限制，並可能為監管批准鋪平了道路。

In a March 2025 interview with CNBC, Robert Mitchnick, head of digital assets at BlackRock, highlighted the revolutionary potential of staking for Ether ETFs.

在2025年3月的CNBC採訪中，貝萊德（Blackrock）數字資產負責人羅伯特·米奇尼克（Robert Mitchnick）強調了Ether ETF股權的革命性潛力。

“Approval of this feature could significantly boost investor interest,” Mitchnick said, adding that lack of demand for Ethereum ETFs since their July 2024 debut could be attributed to the absence of staking.

米奇尼克說：“對此功能的批准可能會大大提高投資者的興趣。”他補充說，自2024年7月首次亮相以來，對以太坊ETF的需求不足可能歸因於缺乏股權。

Mitchnick said, “An ETF has been a compelling vehicle for holding Bitcoin, but it’s less perfect for ETH today without staking.” He also emphasized the need for regulatory clarity to fully realize Ethereum’s potential in institutional portfolios.

米奇尼克（Mitchnick）說：“ ETF是持有比特幣的引人注目的工具，但對於今天的ETH而言，它不太理想而沒有放入。”他還強調了需要清晰的規定，以充分意識到以太坊在機構投資組合中的潛力。

The Ether ETF staking proposal has ramifications that go beyond the price of Ethereum. By allowing staking in ETFs, cryptocurrency assets could be reframed as instruments for both income generation and capital appreciation, bringing them closer to conventional Wall Street financial products.

Ether ETF的放入提案的影響超出了以太坊的價格。通過允許參與ETF，可以將加密貨幣資產重新塑造為收入產生和資本增值的工具，從而使它們更接近傳統的華爾街金融產品。

This change could usher in a new era for cryptocurrencies, bringing them closer to mainstream financial integration and away from their decentralized roots. The cryptocurrency market is keeping a close eye on the SEC’s deliberations, with Ethereum possibly spearheading the push for a hybridized financial future.

這種變化可能會引入一個新時代的加密貨幣，使他們更接近主流金融融合，並遠離其分散的根源。加密貨幣市場正在密切關注SEC的審議，以太坊可能率先推動了雜交財務未來的推動。