密西根退休基金青睞以太坊 ETF 而不是 BTC

一份新的 13-F 文件顯示，密西根州退休系統持有大量以太坊 ETF。退休金機構持有46萬股

The State of Michigan Retirement System disclosed in a new 13-F filing that it has a large stake in the Ethereum ETF. The pension agency had 460,000 shares in the Grayscale Ethereum Trust (ETHE). The stake was valued at over $10 million by the end of the third quarter.

密西根州退休系統在一份新的 13-F 文件中披露，它擁有以太坊 ETF 的大量股份。該退休金機構持有灰度以太坊信託（ETHE）46萬股。截至第三季末，該股份價值超過 1,000 萬美元。

Michigan Pension Fund Prefers Ethereum ETF Over BTC

密西根州退休基金更喜歡以太坊 ETF 而不是 BTC

This new investment makes it the first pension fund to take such an action since the launch of Ethereum ETFs in the U.S.

這項新投資使其成為自美國推出以太坊 ETF 以來首個採取此類行動的退休基金

Moreover, the Michigan Pension Fund has become one of the top five holders of the fund. In addition to the ETHE stake, the agency had 460,000 shares in the Grayscale Ethereum Mini Trust ETF (ETH). Notably, its exposure to ETH amounted to around $1.1 million.

而且，密西根退休基金已成為該基金前五名持有者之一。除了 ETHE 股份外，該機構還擁有灰階以太坊迷你信託 ETF (ETH) 的 46 萬股。值得注意的是，其 ETH 風險敞口約為 110 萬美元。

As pointed out by Eric Balchunas, a Senior ETF analyst at Bloomberg, the Michigan Pension Funds’ Ether ETF holdings far outweighed its Bitcoin ETF holdings. Hence, he described it as a big win, which Ethereum needed.

正如彭博社高級 ETF 分析師 Eric Balchunas 指出的那樣，密西根州退休基金的以太 ETF 持有量遠遠超過了比特幣 ETF 持有量。因此，他將其描述為以太坊所需的一場巨大勝利。

“Not only did Michigan’s pension buy ether ETFs, but they bought more than they did of bitcoin ETFs, $10 million vs $7 million, this despite BTC being up a ton and ether in the gutter,” Balchunas noted.

Balchunas 指出：「密西根州的退休金不僅購買了以太坊ETF，而且購買的金額也超過了比特幣ETF，分別為1000 萬美元和700 萬美元，儘管BTC 價格上漲了很多，而以太坊已經跌入谷底。

Reactions To Michigan Pension Fund Buildup

對密西根州退休基金建設的反應

Interestingly, one user noted that the Michigan Pension Fund’s decision to acquire more Ethereum ETFs than its Bitcoin counterpart did not alter the level of dominance between the two underlying cryptocurrencies. He highlighted that Bitcoin ETF products had a higher share of dominance, which was evident in the volume of inflows that it consistently recorded.

有趣的是，一位用戶指出，密西根州退休基金購買的以太坊 ETF 數量多於比特幣 ETF 的決定並沒有改變兩種基礎加密貨幣之間的主導地位。他強調，比特幣 ETF 產品擁有更高的主導地位，這從其持續記錄的資金流入量中可以看出。

Several U.S. states and pension funds have shown an appetite for crypto-based investments over the past months. About six months ago, news emerged about the State of Wisconsin Investment Board’s exposure to a spot Bitcoin ETF. Notably, the board held up to $100 million of the product, which was approved by the U.S. SEC in January.

過去幾個月，美國幾個州和退休基金表現出了對基於加密貨幣的投資的興趣。大約六個月前，有消息指出威斯康辛州投資委員會投資了現貨比特幣 ETF。值得注意的是，董事會持有該產品高達 1 億美元的資金，該產品已於 1 月獲得美國 SEC 批准。

According to Florida’s Chief Financial Officer Jimmy Patronis, the state also had around $800 million in “crypto-related” investments. It even planned to increase the stash, although this move largely depended on the outcome of the upcoming presidential election, which was only hours away.

佛羅裡達州財務長 Jimmy Patronis 表示，該州還有約 8 億美元的「加密相關」投資。它甚至計劃增加儲備，儘管此舉很大程度上取決於即將到來的總統選舉的結果，而距離選舉只有幾個小時了。

Moreover, the State of Michigan Retirement System also disclosed owning around $7 million of a spot Bitcoin ETF.

此外，密西根州退休系統還披露擁有約 700 萬美元的現貨比特幣 ETF。

Growth Catalysts To Watch For Ethereum

以太坊值得關注的成長催化劑

Judging by the public’s reaction, it was clear that Ethereum had not yet reached its full potential, despite the launch of an ETF. For instance, ETH price was currently trading at $2,427.46, which was far from the $4,000 price that was anticipated for the coin. According to analysts, a few catalysts could propel ETH towards a price rally.

從大眾的反應來看，儘管推出了 ETF，但以太坊顯然尚未充分發揮其潛力。例如，ETH 目前的交易價格為 2,427.46 美元，與預期的 4,000 美元價格相去甚遠。分析師表示，一些催化劑可能會推動 ETH 價格上漲。

The U.S. Federal Reserve is preparing to inject an estimated $800 billion in liquidity into the market. This move was expected to provide a significant boost to the second-largest cryptocurrency by market cap. Furthermore, the outcome of the elections could play a role in advancing Ethereum’s market position.

聯準會正準備向市場注入約8,000億美元的流動性。預計此舉將為市值第二大的加密貨幣帶來顯著提振。此外，選舉結果可能會在提升以太坊的市場地位方面發揮作用。

Apart from this, the digital currency is undergoing intensive upgrades that could drive its adoption. Overall, its Layer-2 ecosystem could also contribute to making it more attractive for further ETF adoptions.

除此之外，數位貨幣正在進行密集升級，這可能會推動其採用。總體而言，其 Layer-2 生態系統也可能有助於使其對 ETF 的進一步採用更具吸引力。