ETH进入大宗商品市场

随着美国证券交易委员会批准以太坊 ETF，以太坊现在被有效地认可为一种商品。这个机构背书推出了以太坊

The approval of Ethereum exchange-traded funds (ETFs) by the SEC marks a pivotal moment in the cryptocurrency market. After years of relentless pushback and tireless advocacy from pro-crypto activists, this approval presents a golden opportunity to market Ethereum in ways that have not been previously anticipated.

美国证券交易委员会批准以太坊交易所交易基金（ETF）标志着加密货币市场的关键时刻。经过支持加密货币活动人士多年的不懈抵制和不懈倡导，这一批准提供了一个以前所未有的方式营销以太坊的绝佳机会。

The timing of this approval couldn’t be better. It comes at a moment when global financial markets are increasingly open to on-chain investments, such as the $11.7 billion capital inflow to Bitcoin ETFs since January 2024. This article explores how the Ethereum community can leverage these new circumstances to position ETH as a leading global investment vehicle.

此次批准的时机再好不过了。当前，全球金融市场对链上投资日益开放，例如自 2024 年 1 月以来已有 117 亿美元的资本流入比特币 ETF。本文探讨了以太坊社区如何利用这些新情况将 ETH 定位为领先的全球投资工具。

ETH Enters the Commodity Market

ETH进入大宗商品市场

With the SEC’s approval of Ethereum ETFs, ETH is now effectively recognized as a commodity. This institutional endorsement has launched Ethereum to a new level of financial credibility previously reserved for assets like gold and oil. As a result, we can expect to see massive interest from institutional investors, especially those who have already expressed interest in crypto commodities.

随着美国证券交易委员会批准以太坊 ETF，以太坊现在被有效地认可为一种商品。这一机构认可将以太坊的金融可信度提升到了一个新的水平，而这之前是为黄金和石油等资产保留的。因此，我们预计机构投资者将产生巨大兴趣，尤其是那些已经对加密商品表示兴趣的投资者。

For instance, investment giants like BlackRock and VanEck, which have already established sizable positions in Bitcoin ETFs, are now setting their sights on ETH. This level of institutional involvement will undoubtedly propel Ethereum into the mainstream financial lexicon.

例如，贝莱德（BlackRock）和 VanEck 等投资巨头已经在比特币 ETF 中建立了相当大的头寸，现在又将目光投向了 ETH。这种程度的机构参与无疑将推动以太坊进入主流金融词汇。

This week, this day, has been a rollercoaster unlike any other I’ve seen. ETH is effectively deemed a Commodity as we’ve always known it to be. I’m proud to be on team @Coinbase, the trusted partner and custodian for many of the issuers who had 19b-4’s approved tonight. pic.twitter.com/nz1HHFbBSQ

这周，这一天，就像过山车一样，与我见过的任何其他日子都不一样。正如我们一直所知，ETH 实际上被视为一种商品。我很自豪能成为 @Coinbase 团队的一员，@Coinbase 是许多今晚获得 19b-4 批准的发行人值得信赖的合作伙伴和托管人。 pic.twitter.com/nz1HHFbBSQ

Fresh coverage of these new narratives by mainstream media is primed to catapult Ethereum out of its crypto-native niche. Already, ETH is becoming a mainstay in major business news outlets, even as political leaders like Donald Trump have utilized the Ethereum network to launch projects.

主流媒体对这些新叙述的新报道准备将以太坊从其加密货币原生利基中推出。尽管唐纳德·特朗普等政治领导人已经利用以太坊网络来启动项目，但以太坊已经成为主要商业新闻媒体的中流砥柱。

Gone are the days when Ethereum market sentiment was determined solely by the attention span of crypto communities. We now face a future where Ethereum will be the subject of wider discussion as more attention settles on ETH as the most exciting crypto commodity.

以太坊市场情绪仅由加密社区的注意力范围决定的日子已经一去不复返了。我们现在面临的未来是，随着越来越多的注意力集中在 ETH 作为最令人兴奋的加密货币商品上，以太坊将成为更广泛讨论的主题。

Investing in the "World Computer"

投资“世界计算机”

The massive capital influx into Bitcoin following the BTC ETF approval on January 11, 2024, set a precedent that Ethereum is certain to follow. While Bitcoin is often seen as digital gold, Ethereum offers something uniquely compelling—it powers a decentralized “World Computer.”

2024 年 1 月 11 日 BTC ETF 获得批准后，大量资金涌入比特币，开创了以太坊必将效仿的先例。虽然比特币通常被视为数字黄金，但以太坊提供了一些独特的引人注目的东西——它为去中心化的“世界计算机”提供动力。

Bitcoin, by design, is primarily a digital currency meant for value exchange. Ethereum, on the other hand, introduced a new era of decentralized and secure networks powered by ETH, the world’s first programmable crypto.

从设计上来说，比特币主要是一种用于价值交换的数字货币。另一方面，以太坊引入了由世界上第一个可编程加密货币 ETH 提供支持的去中心化和安全网络的新时代。

Since its inception, Ethereum’s smart contracts have advanced computing technology's capabilities, enabling applications in sectors ranging from encryption and trading to data verification and digital wallets. As I often tell people, "If fiat was a horse, Bitcoin is a train, and Ethereum is an airplane."

自诞生以来，以太坊的智能合约就拥有先进的计算技术能力，可应用于从加密、交易到数据验证和数字钱包等领域。正如我经常告诉人们的那样，“如果法定货币是一匹马，那么比特币就是一列火车，而以太坊就是一架飞机。”

In marketing ETH, the Ethereum community should bring these superior traits to the forefront by emphasizing that it is the real key to unlocking real-world applications of crypto technology.

在营销 ETH 时，以太坊社区应该将这些优越的特性放在最前面，强调它是解锁加密技术现实世界应用的真正关键。

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Hunter + Dog S1 是永恒的。 https://t.co/tJ82Ly5dtW

Ethereum Is Reshaping Global Industries

以太坊正在重塑全球产业

Ethereum’s smart contracts are actively reshaping both traditional and digital industries. In finance, Ethereum has pioneered the decentralized finance (DeFi) sector, which now boasts a market cap of $104.55 billion. We could also discuss how the millennia-old real estate market is being disrupted by the concept of tokenization, which has made housing markets more accessible and secure.

以太坊的智能合约正在积极重塑传统和数字行业。在金融领域，以太坊开创了去中心化金融（DeFi）领域，目前该领域的市值已达 1045.5 亿美元。我们还可以讨论具有数千年历史的房地产市场如何被代币化概念所扰乱，代币化使房地产市场变得更加容易进入和安全。

Real-world assets (RWAs) are powered by the smart contract technology pioneered on Ethereum, rewriting the rules on the ownership and trade of landed properties while blurring the lines between virtual and physical items.

现实世界资产（RWA）由以太坊首创的智能合约技术提供支持，重写了土地所有权和交易的规则，同时模糊了虚拟和物理物品之间的界限。

Emerging technologies like decentralized physical infrastructure (DePIN) are merging physical and network infrastructures, unlocking new uses for a growing list of applications, including data networks and digital geographical mapping. Additionally, smart contracts are pushing the boundaries of artificial intelligence by enabling decentralized AI computing.

去中心化物理基础设施 (DePIN) 等新兴技术正在融合物理和网络基础设施，为越来越多的应用程序解锁新用途，包括数据网络和数字地理测绘。此外，智能合约通过实现去中心化人工智能计算，正在突破人工智能的界限。

It’s clear that the diverse applications of smart contracts highlight ETH’s utility, making it a highly sought-after crypto commodity over Bitcoin and even conventional commodities with limited use cases.

显然，智能合约的多样化应用凸显了 ETH 的实用性，使其成为比比特币甚至用例有限的传统商品更受追捧的加密商品。

enter the ether ? pic.twitter.com/YXgKQFP5Nr

输入以太? pic.twitter.com/YXgKQFP5Nr

Scaling Hurdles with Ethereum

使用以太坊克服障碍

L2 networks, one of Ethereum’s biggest criticisms has been its scalability issues. The processing speed and usage costs of the Layer 1 Ethereum network have resulted in challenges to its widespread adoption despite the versatility of smart contract technology. However, the emergence of Ethereum Layer 2 (L2) networks, such as Arbitrum, Base, and zkSync, has mitigated these issues.

L2 网络，以太坊最大的批评之一是其可扩展性问题。尽管智能合约技术具有多功能性，但第一层以太坊网络的处理速度和使用成本对其广泛采用造成了挑战。然而，Arbitrum、Base 和 zkSync 等以太坊第 2 层 (L2) 网络的出现缓解了这些问题。

These L2 networks, all powered by the native ETH token, enhance Ethereum’s scalability and efficiency, enabling the type of growth discussed earlier. They operate on top of

这些 L2 网络全部由原生 ETH 代币提供支持，增强了以太坊的可扩展性和效率，从而实现了前面讨论的增长类型。他们在之上运作