埃里克·巴爾庫納斯（Eric Balchunas）向唐納德·特朗普總統及其家人在加密貨幣的個人股份掃描

在Token2049 Dubai的首屆Dubai，彭博ETF分析師和記者埃里克·巴爾庫納斯（Eric Balchunas）向唐納德·特朗普總統及其家人在加密貨幣的個人股份進行了掃描

On the inaugural day of Token2049 Dubai, a lively exchange unfolded as Bloomberg ETF analyst and journalist Eric Balchunas playfully took aim at President Donald Trump and his family’s personal stakes in crypto.

在Token2049 Dubai的開幕典禮上，隨著彭博ETF分析師和記者Eric Balchunas嬉戲地瞄準了唐納德·特朗普總統及其家人在加密貨幣的個人股份，這是一個活潑的交流。

The scenario had the surprising question of whether there would be any buyers for “Trump and Melania ETFs”.

該方案有一個令人驚訝的問題，即是否有“特朗普和梅拉尼亞ETF”的買家。

The pointed question to a Token2049 panel drew amusement from the audience.

Token2049面板的尖銳問題吸引了觀眾。

“A Trump ETF, a Trump coin ETF, and a 2x Melania. Who here will buy that?” Balchunas asked, eliciting chuckles from the crowd.

“特朗普ETF，特朗普硬幣ETF和2倍的梅拉尼亞。在這裡誰會買那個？” Balchunas問，引起了人群的笑聲。

But he pressed the irony, adding, “You’re going to say that the Trump coin ETF is not appropriate for investors, yet your boss has basically launched the coin for investors? How does that work?”

但是他施加了諷刺意味，並補充說：“您要說的是，特朗普硬幣ETF不適合投資者，但您的老闆基本上已經為投資者推出了硬幣？這是如何工作的？”

🔥🇦🇪 Exclusive from TOKEN2049: "Trump, Melania ETFs? Who here will buy that?" jokes Eric, stirring laughs on stage. But behind the humor, he hints at a wild new frontier of personality-driven ETFs, fueled by meme coins and the burning question: where will it end? #Token2049Dubai pic.twitter.com/YSjEuKWFj0

🔥🇦🇪摘自Token2049的獨家：“特朗普，梅拉尼亞ETF？在這裡誰會買那個？”笑話埃里克（Eric），在舞台上笑了起來。但是在幽默的背後，他暗示了一個由個性驅動的ETF的狂野的新邊界，這是在模因硬幣和燃燒的問題上推動的：它將在哪裡結束？ ＃token2049dubai pic.twitter.com/ysjeukwfj0

While the room absorbed the bold remark, Jan van Eck, the CEO of VanEck, offered a grounded response.

當房間吸收了大膽的言論時，Vaneck的首席執行官Jan Van Eck表示了基礎的回應。

“The SEC may approve them, but that doesn’t mean that they’re going to be easily available. We’re not planning to launch a 3x leveraged bitcoin ETF or a -1x inverse product. I think that these products are risky, and I don’t think they’re suitable for most investors,” he explained, drawing from his firm’s own decision-making.

“ SEC可能會批准他們，但這並不意味著它們將很容易獲得。我們不打算推出3倍槓桿的比特幣ETF或-1x反產品。我認為這些產品是有風險的，我認為它們不適合大多數投資者，”他解釋說，從公司自己的決策中獲取。

He further noted that neither VanEck nor Balchunas’s firm had launched leveraged or inverse ETFs, citing concerns over poor investor outcomes.

他進一步指出，Vaneck和Balchunas的公司都沒有發起槓桿率或反向ETF，理由是對不良投資者成果的擔憂。

“It’s not really the government’s job to say this is good or bad. I do think it’s the role of these intermediaries, like the broker-dealers, to say, ‘Put those cautionary brakes on’. And I think the broker-dealers have a role in aggregating demand and saying, ‘Maybe this is an interesting product that we can offer.’ But I do think it’s up to the broker-dealers to put those products in place,” van Eck elaborated, highlighting the role of brokerages in filtering products and safeguarding retail traders.

“說這是好是壞並不是政府的工作。我認為，像經紀人 - 交易者一樣，這些中介人的作用是，'將這些警示剎車放在上面。我認為經紀人 - 交易商在匯總需求和說法中發揮了作用，也許這是我們可以提供的有趣產品。”但是我確實認為經紀交易商必須將這些產品置於適當的位置。

Balchunas pushed the discussion further: “Let’s say the Trump ETF takes off for whatever reason. Do you then seriously consider futures on it? Where do you stop the futures launching?”

Balchunas進一步推動了討論：“假設特朗普ETF出於何種原因起飛。然後，您是否認真考慮了它的未來？您在哪裡停止了未來的發射？”

The question drew a direct response from Giovanni Vicioso, the Global Head of Cryptocurrency at CME Group, who rejected the idea entirely.

這個問題引起了CME集團全球加密貨幣全球負責人Giovanni Vicioso的直接回應，他完全拒絕了這一想法。

“When you consider meme coins in general, there is no underlying function. I wouldn’t see us launching something like that. I think it’s important to have an underlying asset or a clear underlying function for the products that we launch. We want to make sure that the products we launch are serving a specific purpose and have a clear use case,” Vicioso stated pointedly.

“當您一般考慮Meme硬幣時，就沒有基本功能。我不會看到我們啟動類似的功能。我認為擁有基礎資產或我們推出的產品的明確基礎功能很重要。我們希望確保我們啟動的產品提供了特定的目的並具有明確的用途，” Vicioso表示。 ”

The exchange highlighted the awkward intersection of regulation, politics, and the growing appetite for meme-fueled investments. While the panel members displayed amusement and acknowledged the rising interest in such assets, their message was clear: investor safety, real utility, and solid structure still take precedence over internet hype.

該交易所強調了監管，政治和對模因投資的需求日益增長的尷尬交集。小組成員表現出娛樂性並承認對此類資產的興趣不斷上升，但他們的信息很明確：投資者的安全，真正的公用事業和堅實的結構仍然優先於Internet炒作。

Even with all the buzz around Trump or Melania-themed ETFs, becoming a major industry topic, it seems like leading industry voices assembled, are clear—they’re not betting on these becoming serious or sustainable investment products anytime soon.

即使圍繞特朗普或以梅拉尼亞為主題的ETF的所有嗡嗡聲，也成為一個主要的行業主題，也似乎是領先的行業聲音，也很清楚 - 他們並沒有押注這些聲音，這些聲音並沒有很快成為認真或可持續的投資產品。