BlackRock提出以太坊（ETH）交换贸易资金（ETF）以允许积累

世界上最大的资产经理贝莱德（Blackrock）已向美国证券交易委员会（SEC）提议允许在以太坊交易所交易基金（ETFS）中积累

The largest asset manager in the world, BlackRock, has proposed to the U.S. Securities and Exchange Commission (SEC) to permit staking within Ethereum Exchange-Traded Funds (ETFs), which is a revolutionary step for the cryptocurrency market.

世界上最大的资产经理贝莱德（Blackrock）已向美国证券交易委员会（SEC）提议允许在以太坊交易所交易基金（ETFS）中积累，这是加密货币市场的革命性步骤。

. This proposal has the potential to change the crypto investment landscape by turning Ethereum ETFs into yield-generating assets similar to bonds.

。该提案有可能通过将以太坊ETF变成类似于债券的产生产生资产来改变加密投资格局。

To allow the creation and redemption of ETF shares using ETH rather than USD, BlackRock is proposing to amend its S-1 filing. Using BlackRock’s $2.9 billion BUIDL fund, a tokenized fund that was introduced in March 2024 and concentrates on conventional assets like U.S. Treasury bills (T-bills) on the Ethereum network, this change seeks to combine staking and tokenization tactics.

为了允许使用ETH而不是USD的ETF共享创建和赎回，BlackRock提议修改其S-1归档。使用贝莱德（BlackRock）的29亿美元Buidl基金，该基金于2024年3月推出，并集中于以太坊网络上的美国国库账单（T-Bills）等传统资产，这种变化旨在结合既定和标记策略。

The BUIDL fund is a prime example of BlackRock’s overarching plan to integrate decentralized systems with traditional finance, with Ethereum serving as a key component of this development.

Buidl基金是BlackRock的总体计划的一个典型例子，该计划将分散系统与传统金融集成在一起，以太坊是这一发展的关键组成部分。

If permitted, staking in Ethereum ETFs could yield roughly 3.2% annually, per market research. This potential return is expected to attract significant institutional investment in Ethereum, giving investors the chance to benefit from both capital growth and passive income.

如果允许，根据市场研究，在以太坊ETF中占用约3.2％。预计这种潜在的回报将吸引对以太坊的大量机构投资，这使投资者有机会从资本增长和被动收入中受益。

The market has already priced it in as investors await the SEC’s decision; over the past seven days, ETH has increased by nearly 40%, outpacing Bitcoin and other notable cryptocurrencies.

当投资者在等待SEC的决定时，市场已经定价。在过去的七天中，ETH增长了近40％，超过了比特币和其他值得注意的加密货币。

The SEC has historically regarded staking as a potential unregistered security under the Howey Test, a legal framework used to determine whether an asset qualifies as an investment contract. Staking is specifically prohibited at launch for Ethereum Spot ETFs, which were approved by the SEC in May 2024. This has generated controversy in the financial community and has been a significant barrier to staking integration into ETFs.

SEC历史上一直将Staking视为Howey测试下的潜在未注册的安全性，该法律框架用于确定资产是否符合投资合同的资格。在Ethereum Sot ETF的发布会上特别禁止Staking，该产品在2024年5月获得了SEC批准。这引起了金融界引起的争议，并且是将其纳入ETF的重大障碍。

A more crypto-friendly SEC in 2025 appears to be examining these restrictions and potentially paving the way for regulatory approval, based on updates on SEC.gov.

根据SEC.GOV的更新，在2025年更加加密友好的SEC似乎正在研究这些限制，并可能为监管批准铺平了道路。

In a March 2025 interview with CNBC, Robert Mitchnick, head of digital assets at BlackRock, highlighted the revolutionary potential of staking for Ether ETFs.

在2025年3月的CNBC采访中，贝莱德（Blackrock）数字资产负责人罗伯特·米奇尼克（Robert Mitchnick）强调了Ether ETF股权的革命性潜力。

“Approval of this feature could significantly boost investor interest,” Mitchnick said, adding that lack of demand for Ethereum ETFs since their July 2024 debut could be attributed to the absence of staking.

米奇尼克说：“对此功能的批准可能会大大提高投资者的兴趣。”他补充说，自2024年7月首次亮相以来，对以太坊ETF的需求不足可能归因于缺乏股权。

Mitchnick said, “An ETF has been a compelling vehicle for holding Bitcoin, but it’s less perfect for ETH today without staking.” He also emphasized the need for regulatory clarity to fully realize Ethereum’s potential in institutional portfolios.

米奇尼克（Mitchnick）说：“ ETF是持有比特币的引人注目的工具，但对于今天的ETH而言，它不太理想而没有放入。”他还强调了需要清晰的规定，以充分意识到以太坊在机构投资组合中的潜力。

The Ether ETF staking proposal has ramifications that go beyond the price of Ethereum. By allowing staking in ETFs, cryptocurrency assets could be reframed as instruments for both income generation and capital appreciation, bringing them closer to conventional Wall Street financial products.

Ether ETF的放入提案的影响超出了以太坊的价格。通过允许参与ETF，可以将加密货币资产重新塑造为收入产生和资本增值的工具，从而使它们更接近传统的华尔街金融产品。

This change could usher in a new era for cryptocurrencies, bringing them closer to mainstream financial integration and away from their decentralized roots. The cryptocurrency market is keeping a close eye on the SEC’s deliberations, with Ethereum possibly spearheading the push for a hybridized financial future.

这种变化可能会引入一个新时代的加密货币，使他们更接近主流金融融合，并远离其分散的根源。加密货币市场正在密切关注SEC的审议，以太坊可能率先推动了杂交财务未来的推动。