加密貨幣 ETF IBIT 值得買入嗎？

隨著現貨比特幣 ETF 越來越受歡迎，越來越多的散戶投資者可以透過他們的經紀帳戶獲得比特幣的投資，而無需經歷實際持有比特幣的障礙。

One exchange-traded fund (ETF) that’s currently generating a lot of buzz is the iShares Bitcoin Trust (IBIT). Here’s a closer look at the IBIT ETF and why it may or may not be a good investment for you.

iShares 比特幣信託基金 (IBIT) 是目前引起廣泛關注的交易所交易基金 (ETF)。以下是對 IBIT ETF 的詳細了解，以及為什麼它對您來說可能是一項好的投資，也可能不是一項好的投資。

The iShares fund line is managed by Blackrock (BLK), the largest asset manager in the world. As of Dec. 31, 2023, Blackrock had more than $10 trillion in assets under management (AUM).

iShares 基金系列由全球最大的資產管理公司貝萊德 (BLK) 管理。截至 2023 年 12 月 31 日，貝萊德管理資產 (AUM) 超過 10 兆美元。

The iShares Bitcoin Trust is also the largest Bitcoin ETF by a wide margin. At the end of January, the IBIT ETF had about $20 million in AUM. Its major rival, the Grayscale Bitcoin Trust (GBTC), had an AUM of about $18.67 million. And next on the list was the Fidelity Wise Origin Bitcoin Fund (FBTC) with an AUM of 11.36 million.

iShares 比特幣信託也是規模最大的比特幣 ETF。截至一月底，IBIT ETF 的資產管理規模約為 2,000 萬美元。它的主要競爭對手灰階比特幣信託基金（GBTC）的資產管理規模約為 1,867 萬美元。其次是富達 Wise Origin 比特幣基金（FBTC），資產管理規模為 1,136 萬。

But beyond AUM, the iShares Bitcoin Trust also stands out for how often it’s traded. Its daily volume is about 26 million. Compare that to about 5 million for the Grayscale Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund each.

但除了資產管理規模之外，iShares 比特幣信託基金的交易頻率也很突出。其每日交易量約為2600萬份。相比之下，Grayscale 比特幣信託基金和 Fidelity Wise Origin 比特幣基金各約 500 萬美元。

While the IBIT ETF stands out for its backing by leading asset manager Blackrock and its sheer size in the space, it does have its drawbacks. For instance, you may be facing higher fees than other spot Bitcoin ETFs at your disposal.

雖然 IBIT ETF 因其得到領先資產管理公司貝萊德 (Blackrock) 的支持及其在該領域的龐大規模而脫穎而出，但它確實有其缺點。例如，您可能面臨比您可以使用的其他現貨比特幣 ETF 更高的費用。

The iShares fund’s expense ratio is currently a competitive 0.12%. But it could rise to 0.25% 12 months after the fee-waiver initiation date of January 11, 2024. Also, keep in mind it’ll divert to 0.25% if the fund exceeds $5 billion of the Trust’s assets prior to the end of the 12-month period.

iShares 基金的費用比率目前為具有競爭力的 0.12%。但在2024 年1 月11 日費用減免啟動日期後12 個月內，該利率可能會升至0.25% 此外，請記住，如果基金在2024 年1 月11 日結束前超過信託資產的50 億美元，則利率將轉向0.25%。

The iShares Bitcoin ETF Trust’s fees (Assuming the upcoming 0.25%) puts it in line with other leading contenders like Fidelity’s Bitcoin ETF and WisdomTree Bitcoin ETF (BTCW).

iShares 比特幣 ETF 信託的費用（假設即將上漲 0.25%）使其與 Fidelity 的比特幣 ETF 和 WisdomTree 比特幣 ETF (BTCW) 等其他領先競爭者保持一致。

These fees are modest, considering the average spot ETF expense ratio is 1.07%. However, you can find similar funds with lower fees like the following.

考慮到平均現貨 ETF 費用率為 1.07%，這些費用並不高。但是，您可以找到費用較低的類似基金，如下所示。

But you should also consider the IBIT’s performance as of date.

但您也應該考慮 IBIT 截至目前的表現。

Since inception, the iShares fund has closed at a 52-week high of $41.99. The 52-week highs for the Grayscale Bitcoin ETF and the Fidelity Bitcoin ETF stand at $65.61 and $64.42, respectively.

自成立以來，iShares 基金收於 41.99 美元的 52 週高點。 Grayscale 比特幣 ETF 和 Fidelity 比特幣 ETF 的 52 週高點分別為 65.61 美元和 64.42 美元。

But before you invest in any spot Bitcoin ETF, consider this.

但在您投資任何現貨比特幣 ETF 之前，請考慮這一點。

Your holdings would be reflecting the price movements of Bitcoin, so you’d essentially be investing in this cryptocurrency. Remember that this wildly popular crypto coin has been known for its sky-piercing highs, as well as meteoric falls that can come at a second’s notice – as with the greater crypto market.

您的持有量將反映比特幣的價格變動，因此您本質上是在投資這種加密貨幣。請記住，這種廣受歡迎的加密貨幣以其沖天的高點以及可能在一瞬間出現的急劇下跌而聞名——就像更大的加密貨幣市場一樣。

So be sure to do your due diligence before investing in a spot Bitcoin ETF or any investment directly or indirectly related to crypto, and make sure you have the risk tolerance to stomach any of the drops.

因此，在投資現貨比特幣 ETF 或任何與加密貨幣直接或間接相關的投資之前，請務必進行盡職調查，並確保您有風險承受能力來承受任何下跌。