加密货币陷入困境：美国政府关门冻结监管机构，市场为 ETF 浪潮做好准备

美国政府关闭阻碍了加密货币的发展，但投资者的兴趣仍然很高。专家预计，一旦监管机构回归，ETF 批准数量将会激增。

The ongoing U.S. government shutdown is throwing a wrench into the crypto world, leaving regulators paralyzed and the market in a peculiar state of anticipation. But don't let the silence fool you – beneath the surface, things are brewing.

美国政府持续关闭给加密世界带来了冲击，监管机构陷入瘫痪，市场处于一种特殊的预期状态。但不要让沉默欺骗了你——在表面之下，事情正在酝酿之中。

Shutdown Shuts Down Progress

停工导致进度停滞

With the government grinding to a halt, agencies like the SEC are struggling. Rulemakings, reviews, and approvals are all stuck in limbo. This means dozens of pending applications, from ETFs to tokenization frameworks, are collecting dust. One exchange executive perfectly summed it up: "The issue isn’t rejection – it’s silence."

随着政府陷入停顿，美国证券交易委员会等机构陷入困境。规则制定、审查和批准都陷入了困境。这意味着从 ETF 到代币化框架等数十个待审批的申请都已尘埃落定。一位交易所高管完美地总结了这一点：“问题不在于拒绝，而在于沉默。”

Investors Still Keen on Crypto

投资者仍然热衷于加密货币

Despite the regulatory freeze, demand for regulated crypto access is on the rise. Charles Schwab clients control a significant chunk of U.S. crypto ETF assets, and traffic to institutional research portals has nearly doubled. It seems like everyone's just waiting for the green light.

尽管监管冻结，但对受监管的加密货币访问的需求仍在增加。嘉信理财 (Charles Schwab) 客户控制着美国加密 ETF 资产的很大一部分，机构研究门户网站的流量几乎增加了一倍。看来大家都在等待绿灯。

The Bottleneck Cometh

瓶颈来了

When the government finally reopens, expect a tidal wave of decisions. Insiders predict a flurry of activity as regulators scramble to clear the backlog. This could inject billions into new crypto products, but don't expect any shortcuts. Legal and compliance teams will still be under pressure to do their due diligence.

当政府最终重新开放时，预计会出现一波决策浪潮。内部人士预测，随着监管机构争先恐后地清理积压订单，将会出现一系列活动。这可能会为新的加密产品注入数十亿美元，但不要指望有任何捷径。法律和合规团队仍将面临进行尽职调查的压力。

Bitcoin Steady as She Goes

比特币保持稳定

Bitcoin's holding steady, seemingly unfazed by the chaos in Washington. Traders are calling it “pent-up optimism,” anticipating a flood of fresh capital into newly approved ETFs and token products once the bottleneck clears.

比特币保持稳定，似乎没有受到华盛顿混乱的影响。交易员称其为“被压抑的乐观情绪”，预计一旦瓶颈消除，新资金将大量涌入新批准的 ETF 和代币产品。

Erebor Bank Gets Conditional Approval

Erebor 银行获得有条件批准

In a notable development, Erebor Bank, a crypto- and tech-focused lender, received preliminary conditional approval from the OCC. Backed by big names like Palmer Luckey and Peter Thiel, Erebor plans to offer lending, custody, and payment services over digital-asset rails. This move could signal a growing acceptance of crypto within the traditional financial system.

一个值得注意的进展是，专注于加密货币和技术的银行 Erebor Bank 获得了 OCC 的初步有条件批准。在 Palmer Luckey 和 Peter Thiel 等知名人士的支持下，Erebor 计划通过数字资产轨道提供借贷、托管和支付服务。此举可能标志着传统金融体系中对加密货币的接受程度越来越高。

The Big Picture

大局观

The U.S. government shutdown has undoubtedly created a temporary setback for the crypto industry. However, the underlying demand and innovation remain strong. The market seems to be holding its breath, waiting for the moment when regulators finally return to full power and unleash a wave of approvals.

美国政府关门无疑给加密行业造成了暂时的挫折。然而，潜在的需求和创新仍然强劲。市场似乎屏住呼吸，等待监管机构最终全面恢复权力并释放一波审批的那一刻。

My Take: The shutdown, while frustrating, might be a blessing in disguise. It's giving the industry a chance to mature and prepare for the next phase of growth. Plus, the Erebor Bank approval shows that even amidst the chaos, progress is still being made. The key will be how quickly and efficiently regulators can process the backlog once the government reopens. Will they be ready for the crypto surge? Only time will tell.

我的看法：关闭虽然令人沮丧，但可能因祸得福。它为该行业提供了成熟的机会，并为下一阶段的增长做好准备。此外，Erebor 银行的批准表明，即使在混乱之中，仍在取得进展。关键在于政府重新开放后监管机构能够如何快速有效地处理积压的案件。他们准备好迎接加密货币浪潮了吗？只有时间才能证明一切。

So, What's Next?

那么，下一步是什么？

Keep an eye on those ETF applications and regulatory decisions. The moment the government lights are back on, things could get very interesting, very quickly. Buckle up, crypto enthusiasts – the ride's about to get wild!

密切关注这些 ETF 申请和监管决策。当政府的灯光重新亮起的那一刻，事情可能会变得非常有趣，很快。加密货币爱好者们，系好安全带——旅程即将变得疯狂！