霍根（Hougan）認為，所有四個主要的電線房將在年底之前允許比特幣ETF訪問，為創紀錄的流入奠定了基礎

在最近一次的Wirehouse會議上，Bitwise Cio Matt Hougan的主題演講表明發生了重大轉變。

At a recent wirehouse conference, Bitwise CIO Matt Hougan's keynote touched on a significant shift: all four major wirehouses will be opening up access to Bitcoin ETF to their clients by year's end, according to Hougan.

在最近一次的Wirehouse會議上，Bitwise Cio Matt Hougan的主題演講涉及一個重大轉變：根據Hougan的說法，所有四個主要的線索將在年底之前向客戶開放訪問比特幣ETF。

This long-anticipated move could set the stage for record-setting inflows into Bitcoin ETFs, further boosting the cryptocurrency's momentum.

這一長期以來期待的舉動可以為創紀錄的流入比特幣ETF奠定基礎，從而進一步增強了加密貨幣的勢頭。

After his talk, Hougan was approached by a conference attendee who had waited patiently in line to ask a single question: "What would Bitcoin be worth if everyone stopped believing in it?" It's a fear that hangs over many investors. Bitcoin is digital, intangible, and lacks the physical "backstop" of an asset like gold. If sentiment fails, what would be left to salvage?

講話結束後，一名會議的參加者與霍根（Hougan）進行了耐心地等待一個問題：“如果每個人都停止相信它，比特幣值得什麼？”擔心許多投資者。比特幣是數字，無形的，缺少像黃金這樣的資產的物理“後備”。如果情緒失敗，那麼搶救還會留下什麼？

Hougan acknowledged the concern, noting that he's personally wrestled with it at length. But then, he flipped the question: "What would it take for you to believe that Bitcoin is here to stay?" For investors still on the fence, that question can be more clarifying. And the answers have changed drastically in recent years.

霍根（Hougan）承認這一擔憂，並指出他親自與之搏鬥。但是，他把這個問題翻了個話：“你相信比特幣會留在這裡需要什麼？”對於仍在圍欄上的投資者，這個問題可能會更加澄清。近年來，答案發生了巨大變化。

Here is a conversation by Andrew Hohns and Matt Hougan of Bitwise Invest on Institutional Bitcoin adoption:

這是Andrew Hohns和Bitwise Invest的Andrew Hohns和Matt Hougan的對話：採用機構比特幣：

Most institutions will have a basis in Bitcoin above $1 million

大多數機構將在比特幣以上的100萬美元以上的基礎

Andrew Hohns and @Matt_Hougan (of @BitwiseInvest ) unwind the institutional Bitcoin catalysts and trends during their conversation with Jeff Crane of Bitcoin Events. Establishing a narrative in…

安德魯·霍恩斯（Andrew Hohns）和@matt_hougan（@bitwiseInvest）在與比特幣活動的傑夫·克雷恩（Jeff Crane）對話時，放棄了製度性的比特幣催化劑和趨勢。建立敘事

So, Bitcoin's journey to greater institutional adoption is already well underway.

因此，比特幣的更大機構採用的旅程已經在進行中。

Coinbase and Fidelity are trusted by institutions for cryptocurrency custody, while BNY Mellon is quickly catching up to provide similar services. Top-tier trading partners include Jane Street and Cumberland, and nine of the world’s ten largest hedge funds now have an allocation in Bitcoin.

Coinbase和Fidelity受到加密貨幣監護機構的信任，而BNY Mellon迅速趕上提供類似的服務。頂級貿易夥伴包括簡街和坎伯蘭郡，現在，世界十大對沖基金中有9個在比特幣中分配了。

University endowments, like Emory's, state pension funds, like Texas Teachers, and recognized names, including Ray Dalio, have integrated Bitcoin into their investment strategies.

大學捐贈基金，例如德克薩斯州教師等州養老基金，以及包括雷·達利奧（Ray Dalio）在內的公認名稱，將比特幣納入了他們的投資策略。

Public companies, such as Tesla and MicroStrategy, are investing in Bitcoin and holding it on their balance sheets, and institutions now have convenient access to Bitcoin through innovative products like ETFs. Even industry giants like BlackRock are recommending a 2% Bitcoin allocation in investor portfolios.

特斯拉和微觀造影等上市公司正在投資比特幣，並將其固定在資產負債表上，並且機構現在可以通過ETF等創新產品來方便地訪問比特幣。甚至像貝萊德（Blackrock）這樣的行業巨頭也建議投資者投資組合中的比特幣分配2％。

On the regulatory front, the U.S. is making progress with legislation pending for market structure and reporting. In a surprising move, the government is reportedly planning to build a strategic Bitcoin reserve.

在監管方面，美國正在以市場結構和報告待定的立法來取得進展。據報導，一個令人驚訝的舉動，政府正計劃建立戰略性的比特幣儲備。

For Hougan's skeptic, that list was enough. After a beat, he nodded slowly and said, "I'm going to buy Bitcoin."

對於Hougan的懷疑論者來說，該清單就足夠了。跳動後，他慢慢地點了點頭，說：“我要買比特幣。”

Don't Wait For The Crowd, Saylor Says

塞勒說，不要等待人群

While some investors might be tempted to wait until Wall Street has fully opened the door and begun actively marketing Bitcoin to the masses, others, like MicroStrategy Chair Michael Saylor, are urging action now.

儘管一些投資者可能會想等到華爾街完全打開大門，並開始積極向大眾營銷比特幣，而其他人（例如MicroStrategy主席Michael Saylor）現在敦促行動。

Saylor, a vocal cryptocurrency advocate, recently cautioned against waiting for institutions to make the first move. "By the time the pitch is being made to every client, the price will already reflect it," Saylor warned.

聲帶加密貨幣倡導者Saylor最近告誡不要等待機構採取第一步。 Saylor警告說：“到每個客戶的球場都將其推銷時，價格已經反映了它。”

When the banks bless Bitcoin and the experts agree it’s a good idea, everyone will want to buy it, no one will need to sell it, and you won’t be able to afford it.

當銀行祝福比特幣和專家一致認為這是一個好主意時，每個人都想購買它，沒人需要出售它，您將負擔不起。

The rise of spot Bitcoin ETFs has already changed the investing landscape. BlackRock's and Fidelity's Bitcoin ETFs, launched earlier this year, have already drawn in billions from investors. But broader institutional marketing efforts could unlock an even greater wave of capital.

現貨比特幣ETF的興起已經改變了投資格局。今年早些時候推出的貝萊德（Blackrock）和富達（Fidelity）的比特幣ETF已經吸引了數十億美元的投資者。但是，更廣泛的機構營銷工作可以解鎖更大的資本浪潮。