埃里克·巴尔库纳斯（Eric Balchunas）向唐纳德·特朗普总统及其家人在加密货币的个人股份扫描

在Token2049 Dubai的首届Dubai，彭博ETF分析师和记者埃里克·巴尔库纳斯（Eric Balchunas）向唐纳德·特朗普总统及其家人在加密货币的个人股份进行了扫描

On the inaugural day of Token2049 Dubai, a lively exchange unfolded as Bloomberg ETF analyst and journalist Eric Balchunas playfully took aim at President Donald Trump and his family’s personal stakes in crypto.

在Token2049 Dubai的开幕典礼上，随着彭博ETF分析师和记者Eric Balchunas嬉戏地瞄准了唐纳德·特朗普总统及其家人在加密货币的个人股份，这是一个活泼的交流。

The scenario had the surprising question of whether there would be any buyers for “Trump and Melania ETFs”.

该方案有一个令人惊讶的问题，即是否有“特朗普和梅拉尼亚ETF”的买家。

The pointed question to a Token2049 panel drew amusement from the audience.

Token2049面板的尖锐问题吸引了观众。

“A Trump ETF, a Trump coin ETF, and a 2x Melania. Who here will buy that?” Balchunas asked, eliciting chuckles from the crowd.

“特朗普ETF，特朗普硬币ETF和2倍的梅拉尼亚。在这里谁会买那个？” Balchunas问，引起了人群的笑声。

But he pressed the irony, adding, “You’re going to say that the Trump coin ETF is not appropriate for investors, yet your boss has basically launched the coin for investors? How does that work?”

但是他施加了讽刺意味，并补充说：“您要说的是，特朗普硬币ETF不适合投资者，但您的老板基本上已经为投资者推出了硬币？这是如何工作的？”

🔥🇦🇪 Exclusive from TOKEN2049: "Trump, Melania ETFs? Who here will buy that?" jokes Eric, stirring laughs on stage. But behind the humor, he hints at a wild new frontier of personality-driven ETFs, fueled by meme coins and the burning question: where will it end? #Token2049Dubai pic.twitter.com/YSjEuKWFj0

🔥🇦🇪摘自Token2049的独家：“特朗普，梅拉尼亚ETF？在这里谁会买那个？”笑话埃里克（Eric），在舞台上笑了起来。但是在幽默的背后，他暗示了一个由个性驱动的ETF的狂野的新边界，这是在模因硬币和燃烧的问题上推动的：它将在哪里结束？ ＃token2049dubai pic.twitter.com/ysjeukwfj0

While the room absorbed the bold remark, Jan van Eck, the CEO of VanEck, offered a grounded response.

当房间吸收了大胆的言论时，Vaneck的首席执行官Jan Van Eck表示了基础的回应。

“The SEC may approve them, but that doesn’t mean that they’re going to be easily available. We’re not planning to launch a 3x leveraged bitcoin ETF or a -1x inverse product. I think that these products are risky, and I don’t think they’re suitable for most investors,” he explained, drawing from his firm’s own decision-making.

“ SEC可能会批准他们，但这并不意味着它们将很容易获得。我们不打算推出3倍杠杆的比特币ETF或-1x反产品。我认为这些产品是有风险的，我认为它们不适合大多数投资者，”他解释说，从公司自己的决策中获取。

He further noted that neither VanEck nor Balchunas’s firm had launched leveraged or inverse ETFs, citing concerns over poor investor outcomes.

他进一步指出，Vaneck和Balchunas的公司都没有发起杠杆率或反向ETF，理由是对不良投资者成果的担忧。

“It’s not really the government’s job to say this is good or bad. I do think it’s the role of these intermediaries, like the broker-dealers, to say, ‘Put those cautionary brakes on’. And I think the broker-dealers have a role in aggregating demand and saying, ‘Maybe this is an interesting product that we can offer.’ But I do think it’s up to the broker-dealers to put those products in place,” van Eck elaborated, highlighting the role of brokerages in filtering products and safeguarding retail traders.

“说这是好是坏并不是政府的工作。我认为，像经纪人 - 交易者一样，这些中介人的作用是，'将这些警示刹车放在上面。我认为经纪人 - 交易商在汇总需求和说法中发挥了作用，也许这是我们可以提供的有趣产品。”但是我确实认为经纪交易商必须将这些产品置于适当的位置。

Balchunas pushed the discussion further: “Let’s say the Trump ETF takes off for whatever reason. Do you then seriously consider futures on it? Where do you stop the futures launching?”

Balchunas进一步推动了讨论：“假设特朗普ETF出于何种原因起飞。然后，您是否认真考虑了它的未来？您在哪里停止了未来的发射？”

The question drew a direct response from Giovanni Vicioso, the Global Head of Cryptocurrency at CME Group, who rejected the idea entirely.

这个问题引起了CME集团全球加密货币全球负责人Giovanni Vicioso的直接回应，他完全拒绝了这一想法。

“When you consider meme coins in general, there is no underlying function. I wouldn’t see us launching something like that. I think it’s important to have an underlying asset or a clear underlying function for the products that we launch. We want to make sure that the products we launch are serving a specific purpose and have a clear use case,” Vicioso stated pointedly.

“当您一般考虑Meme硬币时，就没有基本功能。我不会看到我们启动类似的功能。我认为拥有基础资产或我们推出的产品的明确基础功能很重要。我们希望确保我们启动的产品提供了特定的目的并具有明确的用途，” Vicioso表示。”

The exchange highlighted the awkward intersection of regulation, politics, and the growing appetite for meme-fueled investments. While the panel members displayed amusement and acknowledged the rising interest in such assets, their message was clear: investor safety, real utility, and solid structure still take precedence over internet hype.

该交易所强调了监管，政治和对模因投资的需求日益增长的尴尬交集。小组成员表现出娱乐性并承认对此类资产的兴趣不断上升，但他们的信息很明确：投资者的安全，真正的公用事业和坚实的结构仍然优先于Internet炒作。

Even with all the buzz around Trump or Melania-themed ETFs, becoming a major industry topic, it seems like leading industry voices assembled, are clear—they’re not betting on these becoming serious or sustainable investment products anytime soon.

即使围绕特朗普或以梅拉尼亚为主题的ETF的所有嗡嗡声，也成为一个主要的行业主题，也似乎是领先的行业声音，也很清楚 - 他们并没有押注这些声音，这些声音并没有很快成为认真或可持续的投资产品。