比特币 ETF 现在持有的代币数量与中本聪的钱包一样多，这带来了新的风险

由于 ETF 持有的比特币数量几乎与中本聪的钱包一样多，该机构收购 OG 代币带来了新的风险。

US-based Bitcoin ETFs now own over 1 million tokens or almost 5% of the total supply.

美国的比特币 ETF 目前拥有超过 100 万枚代币，几乎占总供应量的 5%。

That's close to the sums that have long been stashed away in the wallet of the market's original whale: Satoshi Nakamoto, the mysterious and unknown author of the Bitcoin whitepaper.

这与市场上的原始鲸鱼——比特币白皮书的神秘且不知名的作者中本聪——的钱包中长期藏匿的金额接近。

A Trump ally in the Senate is trying to pass a bill that would sell part of the Federal Reserve's gold to acquire 1 million Bitcoin for the US government's stockpile.

特朗普在参议院的盟友正试图通过一项法案，该法案将出售美联储的部分黄金，以购买 100 万枚比特币作为美国政府的储备。

In business, software company MicroStrategy, owned by Michael Saylor, owns over $38 billion worth of tokens and has been using capital markets to acquire more.

在商业领域，Michael Saylor 旗下的软件公司 MicroStrategy 拥有价值超过 380 亿美元的代币，并一直在利用资本市场收购更多代币。

Just a short time ago, when Bitcoin was in its infancy and tokens were trading for pennies on the dollar, all anyone interested was a group of young, libertarian techies who wanted to build a decentralised financial system that the government or Wall Street wouldn't control.

就在不久前，当比特币还处于起步阶段，代币的交易价格仅为一美元的便士时，所有感兴趣的人都是一群年轻的、自由主义的技术人员，他们想要建立一个政府或华尔街不会的去中心化金融体系控制。

Now, all of this has changed.

现在，这一切都改变了。

These long-standing institutions are now controlling ever-increasing portions of the Bitcoin market.

这些历史悠久的机构现在控制着比特币市场不断增加的份额。

According to Mark Connors, founder and chief investment strategist at Risk Dimensions, more countries may be prompted to purchase Bitcoin if the United States were to establish a national stockpile of the cryptocurrency.

Risk Dimensions 创始人兼首席投资策略师 Mark Connors 表示，如果美国建立国家加密货币储备，可能会促使更多国家购买比特币。

Concentration risk is the sum of all these factors.

集中风险是所有这些因素的总和。

For one, there's a lot of hope that the price will keep going up because of the huge demand, which has been driving it up so far.

一方面，由于迄今为止一直在推动价格上涨的巨大需求，人们对价格继续上涨抱有很大的希望。

One such argument is that, unlike stock ownership, the Bitcoin blockchain's fundamental architecture makes it impossible for even the largest investors to influence its operations.

其中一个论点是，与股票所有权不同，比特币区块链的基本架构使得即使是最大的投资者也无法影响其运营。

Both Bitcoin and Ethereum ETFs in the US have seen record-breaking net inflows, fueled by a bullish November. The ETFs collectively recorded over $7.54 billion in monthly net inflows, surpassing the previous high of $6.03 billion set in February for Bitcoin ETFs.

在 11 月份看涨的推动下，美国的比特币和以太坊 ETF 的净流入均创纪录。这些 ETF 的月度净流入总计超过 75.4 亿美元，超过了 2 月份比特币 ETF 创下的 60.3 亿美元的历史高点。

Ethereum ETFs, launched in July 2024, are also gaining traction, with net inflows between November 25 and November 29 reaching $467 million, driven predominantly by BlackRock’s ETHA, which accounted for $300 million.

2024 年 7 月推出的以太坊 ETF 也受到关注，11 月 25 日至 11 月 29 日期间净流入达到 4.67 亿美元，主要由贝莱德 (BlackRock) 的 ETHA 推动，其中 3 亿美元。

Additionally, Ethereum is beginning to close the gap with Bitcoin in the ETF space, as its spot ETFs saw daily net inflows of $332 million, outpacing Bitcoin’s $320 million during the same period.

此外，以太坊正开始缩小与比特币在 ETF 领域的差距，其现货 ETF 每日净流入 3.32 亿美元，超过比特币同期的 3.2 亿美元。

Bitcoin ETFs continue to dominate nonetheless, with BlackRock's iShares Bitcoin Trust (IBIT) amassing $48 billion in flows since its launch, followed by Grayscale's GBTC with $20.9 billion and Fidelity's FBTC with $19 billion.

尽管如此，比特币 ETF 仍然占据主导地位，贝莱德 (BlackRock) 的 iShares Bitcoin Trust (IBIT) 自推出以来积累了 480 亿美元的资金流，其次是 Grayscale 的 GBTC（209 亿美元）和 Fidelity 的 FBTC（190 亿美元）。

The broader interest in Bitcoin ETFs comes as the cryptocurrency hovers near $96,000, inching closer to the psychological $100,000 milestone.

随着比特币徘徊在 96,000 美元附近，逐渐接近 100,000 美元的心理里程碑，人们对比特币 ETF 产生了更广泛的兴趣。

"Inflows into ETH ETFs appear to be slowing after a recent surge, and the token's failure to break above $3,700 may signal a potential pullback. BTC ETFs, on the other hand, continue to attract inflows as the crypto edges closer to the critical $100K mark," BRN analyst Valentin Fournier said in a note on Wendesday.

“在最近的飙升之后，流入 ETH ETF 的资金似乎正在放缓，该代币未能突破 3,700 美元可能预示着潜在的回调。另一方面，随着加密货币价格接近 10 万美元的关键水平，BTC ETF 继续吸引资金流入马克，”BRN 分析师 Valentin Fournier 在周三的一份报告中表示。

However, inflows into ETH ETFs appear to be slowing after a recent surge, and the token's failure to break above $3,700 may signal a potential pullback. BTC ETFs, on the other hand, continue to attract inflows as the crypto edges closer to the critical $100K mark.

然而，在最近的飙升之后，流入 ETH ETF 的资金似乎正在放缓，并且该代币未能突破 3,700 美元可能预示着潜在的回调。另一方面，随着加密货币接近 10 万美元的关键关口，BTC ETF 继续吸引资金流入。

Elsewhere

别处

Blockcast

块播

In this episode, Takatoshi Shibayama sits down with Jason Choi, general partner at crypto prop shop Tangent, for a candid exploration of crypto markets. Choi discusses meme coin supercycles, navigating macroeconomic headwinds, and the evolution of project evaluation from speculative hype to real-world traction.

在本集中，Takatoshi Shibayama 与加密货币道具商店 Tangent 的普通合伙人 Jason Choi 坐在一起，对加密货币市场进行了坦诚的探索。 Choi 讨论了模因币超级周期、应对宏观经济逆风以及项目评估从投机炒作到现实世界牵引的演变。

Previous episodes of Blockcast can be found on Podpage, with guests like Peter Hui (Moongate), Luca Prosperi (M^0), Charles Hoskinson (Cardano), Aneirin Flynn (Failsafe), and Yat Siu (Animoca Brands) on our most recent shows.

Blockcast 的前几集可以在 Podpage 上找到，嘉宾包括 Peter Hui (Moongate)、Luca Prosperi (M^0)、Charles Hoskinson (Cardano)、Aneirin Flynn (Failsafe) 和 Yat Siu (Animoca Brands)。显示。

Events

活动

BRN on Money FM (Singapore, 4 December 5:10pm)

BRN on Money FM（新加坡，12 月 4 日下午 5:10）

BRN analyst Valentin Fournier will be going LIVE with Hongbin Jeong on Money FM Singapore's "The Wealth Tracker" to discuss where Bitcoin is headed.

BRN 分析师 Valentin Fournier 将与 Hongbin Jeong 一起在新加坡 Money FM 的“财富追踪”节目中直播，讨论比特币的发展方向。

Tune in here at 5:10 pm on 4 December!

12 月 4 日下午 5:10 请收看这里！

Consensus (Hong Kong, 18-20 February)

共识（香港，2 月 18 日至 20 日）

Consensus is heading to Hong Kong, bringing together the industry’s most important voices from East and West for pivotal conversations and deal-making opportunities.

Consensus 即将前往香港，汇聚东西方业界最重要的声音，进行关键对话和交易机会。

Consensus Hong Kong convenes global leaders in tech and finance to debate pressing issues, announce key developments and deals, and share their visions for the future.

香港共识汇聚全球科技和金融领域的领导者，讨论紧迫问题，宣布关键发展和交易，并分享他们对未来的愿景。

Use promo code BLOCKDESK20 at checkout for a 20%

结帐时使用促销代码 BLOCKDESK20 可享受 20% 优惠