BlackRock和Crypto ETF景观：没有XRP（尚未！），但是接下来是什么？

BlackRock并没有跳上XRP ETF潮流，但他们的比特币ETF成功暗示了更大的加密游戏。这对加密ETF的未来意味着什么？

BlackRock and the Crypto ETF Landscape: No XRP (Yet!), But What's Next?

BlackRock和Crypto ETF景观：没有XRP（尚未！），但是接下来是什么？

BlackRock's spot Bitcoin ETF success has been transformative, but they're pumping the brakes on an XRP ETF. What does this mean for the crypto ETF market?

BlackRock的斑点比特币ETF成功是有变革性的，但他们正在将XRP ETF的刹车吹进。这对加密ETF市场意味着什么？

BlackRock's Stance: Bitcoin and Ethereum First

贝莱德的立场：比特币和以太坊首先

Despite Ripple's legal victory and the buzz around XRP, BlackRock has confirmed they aren't filing for an XRP ETF or a Solana ETF anytime soon. They're sticking with Bitcoin and Ethereum for now. As BlackRock told The Block, they currently have "no plans to submit applications for either product." This news came as a surprise to many, especially after the resolution of the Ripple case, which many thought would clear the path for an XRP ETF.

尽管Ripple的法律胜利和XRP的嗡嗡声，BlackRock已确认他们不会很快申请XRP ETF或Solana ETF。他们现在坚持使用比特币和以太坊。正如贝莱德告诉街区的那样，他们目前“没有计划提交任何两种产品的申请”。这一消息令许多人感到惊讶，尤其是在解决波纹案件之后，许多人认为这会清除XRP ETF的道路。

Why the Hesitation on XRP?

为什么在XRP上犹豫？

The reasons behind BlackRock's decision are complex. Some speculate that they don't see enough U.S. demand for an XRP ETF, while others point to the regulatory uncertainties that still linger around cryptocurrencies beyond Bitcoin and Ethereum. It's also possible that BlackRock is simply playing it safe, focusing on the two largest and most established cryptocurrencies before venturing into riskier territory. They've found success with the Bitcoin ETF, so why mess with a good thing?

贝莱克决定背后的原因很复杂。有些人推测，他们没有看到足够多的我们对XRP ETF的需求，而另一些人则指出了仍在围绕比特币和以太坊的加密货币徘徊的监管不确定性。贝莱德也可能只是安全地发挥作用，重点是在冒险进入风险更高的领土之前，重点介绍了两个最大，最确立的加密货币。他们已经找到了比特币ETF的成功，那么为什么要弄乱一件好事呢？

The ETF Landscape: A Missed Opportunity?

ETF景观：错过的机会？

Nate Geraci, president of NovaDius Wealth, thinks BlackRock is making a mistake. He argues that by avoiding an XRP ETF, they're leaving the door open for competitors to dominate that category. Bloomberg Intelligence’s Eric Balchunas even questioned where ETF expansion should stop if XRP gets the green light, mentioning Solana and Tron as potential contenders. Several companies, including ProShares, 21Shares, Canary, and Bitwise, already have pending XRP ETF applications before the SEC. Will BlackRock regret sitting this one out?

诺瓦迪乌斯财富总裁内特·格拉奇（Nate Geraci）认为贝莱德（Blackrock）正在犯错。他认为，通过避免XRP ETF，他们正在为竞争对手打开大门，以占据这一类别。彭博情报局的埃里克·巴尔库纳斯（Eric Balchunas）甚至质疑如果XRP获得绿灯，将ETF扩展应在哪里停止，并提到Solana和Tron是潜在的竞争者。包括Proshares，21shares，Canary和Bitwise在内的几家公司已经在SEC之前已经有XRP ETF申请。贝莱德会后悔把这个吗？

The Harvard Effect: Institutional Money Floods Bitcoin ETFs

哈佛大学效应：机构货币淹没了比特币ETF

BlackRock's iShares Bitcoin Trust (IBIT) has been a huge success, amassing $84 billion in assets under management. Harvard University even committed $120 million to the fund, signaling growing confidence in Bitcoin as an asset class. This move could be a catalyst for broader institutional adoption, further solidifying Bitcoin's position in the market. The ETF structure offers security, simplified access, and regulatory alignment, making it attractive to institutions.

贝莱德的iShares比特币信托（IBIT）取得了巨大的成功，积累了840亿美元的管理资产。哈佛大学甚至向该基金承诺了1.2亿美元，这表明对比特币作为资产类别的信心越来越多。这一举动可能是更广泛采用机构的催化剂，进一步巩固了比特币在市场上的地位。 ETF结构提供了安全性，简化的访问和法规对齐方式，使其对机构有吸引力。

Altcoin ETFs on the Horizon?

Altcoin ETF在地平线上？

With Bitcoin and Ethereum ETFs already making waves, the question is: what's next? The SEC's "Project Crypto" suggests a move towards fully onchain U.S. markets. While BlackRock isn't rushing into XRP or Solana ETFs, the success of Bitcoin and Ethereum ETFs could pave the way for other altcoins in the future. Regulatory clarity is key, but the potential for altcoin ETFs to disrupt classic crypto cycles is definitely there.

随着比特币和以太坊ETF已经在引起海浪，问题是：下一步是什么？ SEC的“加密项目”表明，朝着全面的美国市场迈进。虽然贝莱德并没有冲入XRP或Solana ETF，但比特币和以太坊ETF的成功可能会在未来为其他山寨币铺平道路。监管清晰度是关键，但是Altcoin ETF肯定会破坏经典加密周期的潜力。

So, What Does This All Mean?

那么，这全是什么意思？

BlackRock's cautious approach to crypto ETFs highlights the ongoing tension between innovation and regulation in the crypto world. While they're not ready to embrace XRP just yet, their success with Bitcoin ETFs demonstrates the growing demand for regulated crypto investment vehicles. As the market matures and regulatory landscapes become clearer, expect to see more altcoin ETFs emerge, potentially reshaping the crypto investment landscape as we know it.

贝莱德对加密ETF的谨慎方法突出了加密世界中创新与监管之间持续的紧张关系。尽管他们还没有准备好接受XRP，但他们在比特币ETF上的成功表明了对受监管的加密投资工具的需求不断增长。随着市场的成熟和监管景观变得更加清晰，期望看到更多的Altcoin ETF出现，并有可能重塑我们所知道的加密投资格局。

Who knows, maybe one day we'll see a Dogecoin ETF backed by Elon Musk himself. Until then, keep your eyes on the ETF approvals list – the next altcoin ETF could rewrite the rules forever!

谁知道，也许有一天我们会看到埃隆·马斯克（Elon Musk）本人支持的狗狗ETF。在此之前，请关注ETF批准列表 - 下一个Altcoin ETF可以永远重写规则！