如果比特币是数字黄金，那么以太坊是什么？

彭博社 ETF 分析师 Eric Balchunas 在 X 平台上讨论以太坊现货 ETF 市场的成功机会

The United States Securities and Exchange Commission (SEC) approved several pending Ethereum spot ETF applications last week. This development sparked commentary on the value and acceptability of the Ether token, particularly among a specific demographic.

美国证券交易委员会 (SEC) 上周批准了几项待决的以太坊现货 ETF 申请。这一发展引发了对以太币的价值和可接受性的评论，特别是在特定人群中。

After the recent approval, Eric Balchunas, an ETF analyst at Bloomberg, took to the X platform to discuss the chances of success in the Ethereum spot ETF market. The analyst highlighted how the acceptability of the Ethereum token, especially amongst investors in the 60 to 80-year-old age group (baby boomers), might pose a challenge to how well the investment products will perform.

最近获得批准后，彭博社的 ETF 分析师 Eric Balchunas 在 X 平台上讨论了以太坊现货 ETF 市场的成功机会。这位分析师强调了以太坊代币的可接受性，尤其是 60 至 80 岁年龄段（婴儿潮一代）投资者的接受度，可能会对投资产品的表现构成挑战。

If Bitcoin Is Digital Gold, What Is Ethereum?

如果比特币是数字黄金，那么以太坊是什么？

One way ETF issuers might be able to penetrate the “baby boomer” market is by distilling the value or purpose of the ETH ETFs into an “easy-to-understand sound bite.” The Bloomberg analyst questioned if Ethereum has a simple selling point while citing “Bitcoin is digital gold” as an exemplary marketing one-liner that the older generation can resonate with.

ETF 发行人能够渗透“婴儿潮一代”市场的一种方式是将 ETH ETF 的价值或目的提炼成“易于理解的原话”。这位彭博分析师质疑以太坊是否有一个简单的卖点，同时引用“比特币是数字黄金”作为老一代人可以产生共鸣的典型营销俏皮话。

Balchunas then asked in his post:

巴尔丘纳斯随后在帖子中问道：

Does a simple one-liner like that exist for Ether? If so, what is it?

以太币是否存在这样简单的一句话？如果是的话，那是什么？

There were several interesting answers from notable personalities in the cryptocurrency space. Notably, crypto journalist Colin Wu called Ethereum the “Web 3.0 internet.”

加密货币领域的知名人士给出了一些有趣的答案。值得注意的是，加密货币记者 Colin Wu 将以太坊称为“Web 3.0 互联网”。

Prominent crypto investor and partner at venture capital firm Cinneamhain Ventures Adam Cochran also responded, saying “Ethereum is like digital oil.” Cochran explained further that Ethereum is the gas that powers decentralized protocols.

著名的加密货币投资者和风险投资公司 Cinneamhain Ventures 的合伙人 Adam Cochran 也做出了回应，称“以太坊就像数字石油”。科克伦进一步解释说，以太坊是为去中心化协议提供动力的天然气。

Staked ETH is like an internet bond.

质押的 ETH 就像互联网债券。

— Adam Cochran (adamscochran.eth) (@adamscochran) May 24, 2024

— Adam Cochran (adamscochran.eth) (@adamscochran) 2024 年 5 月 24 日

Meanwhile, James Check (popularly known as CheckMatey), a lead analyst at Glassnode, suggested that Ether doesn’t have a selling point. “Ethereum still has no elevator pitch, despite years of attempts,” the crypto pundit said in a post on X.

与此同时，Glassnode 的首席分析师 James Check（俗称 CheckMatey）表示，以太坊没有卖点。这位加密货币专家在 X 上的一篇帖子中表示：“尽管经过多年的尝试，以太坊仍然没有电梯推销。”

ETH ETF To Clear The Path For More Funds: TD Cowen

ETH ETF 将为更多基金扫清道路：TD Cowen

While it is unclear whether the Ethereum spot ETFs will be successful, these newly approved funds are expected to usher in even newer crypto products in the coming year. According to investment bank TD Cowen’s research team, a product containing a “basket of crypto tokens,” possibly just Bitcoin and Ether or other tokens might be next in line.

虽然目前尚不清楚以太坊现货 ETF 是否会成功，但这些新批准的基金预计将在来年推出更新的加密产品。根据投资银行 TD Cowen 的研究团队的说法，下一个可能是包含“一篮子加密代币”的产品，可能只是比特币和以太币或其他代币。

However, the research group noted in its report that the recent approval of Ethereum spot ETF doesn’t indicate a shift in the SEC’s overall stance towards crypto. This was highlighted in chairman Gary Gensler’s recent statement against the passage of crypto legislation.

然而，该研究小组在报告中指出，最近以太坊现货 ETF 的批准并不表明 SEC 对加密货币的整体立场发生了转变。主席加里·詹斯勒 (Gary Gensler) 最近发表的反对通过加密货币立法的声明强调了这一点。

TD Cowen predicts the SEC will keep its Democratic majority through 2026. "We expect the agency will continue to litigate against crypto trading platforms that trade tokens that the agency believes are unregistered securities". Next ETF to come within a year might be an offering…

TD Cowen 预测 SEC 将在 2026 年之前保持民主党的多数席位。“我们预计该机构将继续对交易该机构认为是未注册证券的代币的加密货币交易平台提起诉讼”。一年内推出的下一个 ETF 可能是一种产品……

— Wu Blockchain (@WuBlockchain) May 26, 2024

— Wu Blockchain (@WuBlockchain) 2024 年 5 月 26 日

“We expect the agency will continue to litigate against crypto trading platforms that trade tokens that the agency believes are unregistered securities,” the TD Cowen researchers said about the SEC keeping its Democratic majority through 2026.

TD Cowen 研究人员在谈到 SEC 在 2026 年之前保持民主党多数席位时表示：“我们预计该机构将继续对加密货币交易平台提起诉讼，这些平台交易该机构认为是未注册证券的代币。”