贝莱德 (BlackRock) 比特币 ETF 取代灰度 (Grayscale) 成为全球最大的比特币 ETF

iShares 比特币信托基金吸引了自上线以来最大的资金流入，达 165 亿美元，而投资者则从 Grayscale 基金撤资 177 亿美元

BlackRock Inc.’s iShares Bitcoin Trust has become the world’s largest fund for the original cryptocurrency, amassing almost $20 billion in total assets since listing in the US at the start of the year.

贝莱德公司旗下的 iShares 比特币信托基金已成为全球最大的原始加密货币基金，自年初在美国上市以来已积累了近 200 亿美元的总资产。

The exchange-traded fund held $19.68 billion of the token Tuesday, dethroning the $19.65 billion Grayscale Bitcoin Trust, data compiled by Bloomberg show. The third largest is the $11.1 billion offering from Fidelity Investments.

彭博社汇编的数据显示，该交易所交易基金周二持有 196.8 亿美元的代币，取代了 196.5 亿美元的灰度比特币信托基金。第三大是富达投资 (Fidelity Investments) 发行的 111 亿美元。

The BlackRock and Fidelity Bitcoin ETFs were among nine that debuted Jan. 11, the same day the more than decade-old Grayscale vehicle converted into an ETF. The launches were a watershed for crypto, making Bitcoin more accessible to investors and spurring a rally in the token to a record $73,798 by March.

贝莱德 (BlackRock) 和富达 (Fidelity) 比特币 ETF 是 1 月 11 日首次推出的 9 只比特币 ETF 之一，同一天，已有十多年历史的灰度投资工具转换为 ETF。这些发行是加密货币的分水岭，使投资者更容易获得比特币，并刺激该代币在 3 月份上涨至创纪录的 73,798 美元。

The iShares Bitcoin Trust has attracted the greatest inflow since going live, $16.5 billion, while investors have pulled $17.7 billion from the Grayscale fund over the same period. The latter’s higher fees and exits by arbitragers have been cited as possible drivers of outflows.

iShares 比特币信托基金吸引了自上线以来最大的资金流入，达到 165 亿美元，而投资者同期从 Grayscale 基金撤资 177 亿美元。后者较高的费用和套利者的退出被认为是资金外流的可能驱动因素。

Neither BlackRock nor Grayscale Investments LLC immediately replied to requests for comment outside regular US business hours. Grayscale intends to launch a clone of its main fund, according to a March regulatory filing, and fees are expected to be lower, a person familiar with the matter said at the time.

贝莱德和灰度投资有限责任公司均未立即回复美国正常工作时间以外的置评请求。一位知情人士当时表示，根据 3 月份的监管文件，灰度打算推出其主要基金的克隆，费用预计会较低。

The Securities and Exchange Commission reluctantly gave the green light for the first US spot-Bitcoin ETFs in January following a court reversal in 2023 in a case brought by Grayscale.

2023 年，Grayscale 提起的一桩案件被法院推翻，随后，美国证券交易委员会 (Securities and Exchange Commission) 于 1 月勉强批准了美国第一批现货比特币 ETF。

The firm created the Grayscale Bitcoin Trust in 2013 and it became well-known as the biggest such vehicle. But shares in the closed-ended product sometimes traded at substantial premiums or discounts to its net asset value, prompting Grayscale to push for a conversion into an ETF to ensure trading at par.

该公司于 2013 年创建了灰度比特币信托基金，并以最大的此类工具而闻名。但封闭式产品的股票有时会以其资产净值大幅溢价或折让，促使灰度推动转换为 ETF，以确保按面值交易。

SEC Pivot

SEC 枢轴

Last week, the SEC surprisingly pivoted toward allowing ETFs for Ether, a token that ranks second only to Bitcoin in market value. The agency under Chair Gary Gensler is skeptical of the crypto industry overall following a spate of scandals.

上周，美国证券交易委员会出人意料地转向允许以太币 ETF，这种代币的市值仅次于比特币。在一系列丑闻发生后，主席加里·詹斯勒 (Gary Gensler) 领导下的该机构对整个加密行业持怀疑态度。

The group of Bitcoin funds — with assets of $58.5 billion to date — have been hailed as one of the most successful new ETF categories. But critics argue volatile digital assets are ill-suited to widespread adoption, even within ETFs.

该比特币基金迄今为止资产规模达 585 亿美元，被誉为最成功的新 ETF 类别之一。但批评者认为，波动性较大的数字资产不适合广泛采用，即使在 ETF 中也是如此。

Some nations, such as Singapore and China, either curb or ban investor access. In the US, a Vanguard Group spokesperson said in January that the firm has no plans to offer any crypto-related products. BlackRock and Vanguard are the world’s two largest asset managers.

新加坡和中国等一些国家限制或禁止投资者准入。在美国，先锋集团发言人一月份表示，该公司没有计划提供任何与加密货币相关的产品。贝莱德和先锋集团是全球最大的两家资产管理公司。

Bitcoin has quadrupled since the start of last year, helped by the ETFs, in a powerful recovery from a deep bear market in 2022. The token rose about 1% to $68,797 as of 12:48 p.m. Wednesday in Singapore.

自去年初以来，在 ETF 的帮助下，比特币价格已翻了两番，从 2022 年的深度熊市中强劲复苏。截至新加坡周三中午 12:48，该代币上涨约 1% 至 68,797 美元。