兩家主要投資公司以太坊支持僅比特幣的戰略

總部位於美國的諮詢公司Two Prime完全放棄了以太坊，經過多年管理這兩種資產後，轉移到了僅比特幣的戰略。

U.S.-based advisory firm Two Prime has abandoned Ethereum entirely and shifted to a Bitcoin-only investment strategy, according to a recent announcement.

根據最近的公告，總部位於美國的諮詢公司Two Prime完全放棄了以太坊，並轉向了僅比特幣的投資策略。

The firm, known for issuing over $1.5 billion in loans backed by BTC and ETH over the last 15 months, had previously included both assets in its portfolio. However, after a sharp decline in early 2025 and what the firm describes as a complete breakdown in the asset’s predictability, they decided to pull out of ETH completely. A post on their website detailing the decision is currently unavailable.

該公司因在過去15個月中發行由BTC和ETH支持的15億美元貸款而聞名，此前曾在其投資組合中均納入了這兩個資產。但是，在2025年初的急劇下降以及該公司所描述的資產可預測性徹底破壞之後，他們決定完全退出ETH。他們的網站上的帖子詳細介紹了該決定目前不可用。

Two Prime argued that after years of consistent behavior, Ethereum has begun trading more like a memecoin, displaying erratic behavior that renders it unsuitable for lending models or algorithmic strategies. Both of these depend on statistical consistency, which has now been compromised in the case of ETH, the firm added.

兩個主要的說法，經過多年的一致行為，以太坊已經開始更像是一個模因，表現出不穩定的行為，使其不適合借用模型或算法策略。該公司補充說，這兩者都取決於統計一致性，該公司在ETH的情況下已被妥協。

This pivot from Two Prime reflects broader skepticism towards Ethereum in institutional circles. Despite the approval of spot Ether ETFs in mid-2024, these products have failed to gain traction compared to Bitcoin.

這個來自兩個素數的樞軸反映了對機構圈子中對以太坊的廣泛懷疑。儘管在2024年中期獲得了斑點ETHET的批准，但與比特幣相比，這些產品仍未獲得吸引力。

Indeed, several issuers—including VanEck, ARK, and WisdomTree—have scaled back or withdrawn their Ether-focused offerings amid weak demand and a lack of interest from institutional investors. In contrast, Bitcoin ETFs continue to attract capital.

確實，包括瓦內克（Vaneck），方舟和智慧（Wisdomtree）在內的幾位發行人在需求疲軟和機構投資者缺乏興趣的情況下向後縮減或撤回了他們以醚為中心的產品。相比之下，比特幣ETF繼續吸引資本。

Despite this, Ethereum still holds the top spot among altcoins in the ETF market with $9.2 billion in assets under management, ahead of rivals like Solana and XRP. But Two Prime’s withdrawal adds to a growing list of institutions pulling away, as ETH continues to diverge from BTC in both price and perceived reliability.

儘管如此，以太坊仍然以92億美元管理的資產在ETF市場中排名最高，領先於Solana和XRP等競爭對手。但是，隨著ETH繼續以價格和可感知的可靠性與BTC不同，兩個Prime的撤回增加了越來越多的機構清單。

While critics of the move see it as premature—or even a signal that ETH is bottoming out—Two Prime appears confident in its shift, aligning its portfolio with what it views as the only asset still behaving according to long-term patterns: Bitcoin.

雖然對此舉的批評者認為它是過早的，甚至是ETH正在觸底的信號，但兩個主要的信號似乎對其轉變充滿信心，將其投資組合與認為仍然是根據長期模式的唯一資產來使其對齊的投資組合：比特幣。