以太坊 ETF 首次亮相，资金流入达 1.07 亿美元，落后于比特币基金

- 直接投资于以太币的美国交易所交易基金在上市首日交易中实现了 1.07 亿美元的总体净流入，这将为了解比特币之外的主流加密货币需求提供一个窗口。

BlackRock Inc.’s iShares Trust, which tracks the performance of Ether, had the highest level of subscriptions on Tuesday with $267 million, followed by Bitwise Ethereum at $204 million and Fidelity Ethereum Fund at $71 million, according to data compiled by Bloomberg.

根据彭博社汇编的数据，贝莱德公司 (BlackRock Inc.) 跟踪以太币表现的 iShares Trust 周二的认购量最高，为 2.67 亿美元，其次是 Bitwise Ethereum，为 2.04 亿美元，富达以太坊基金为 7100 万美元。

In total, over $1 billion worth of shares traded across the nine ETFs, whose launch comes six months after US regulators permitted the inaugural US spot-Bitcoin ETFs. The latter have attracted a net inflow of over $17 billion this year.

九只 ETF 的股票交易总额总计超过 10 亿美元，这些 ETF 的推出是在美国监管机构批准美国首个现货比特币 ETF 六个月后推出的。后者今年吸引了超过170亿美元的净流入。

Ether is the No. 2 digital asset and is popular for blockchain-based financial services, but the token’s market value is still less than a third of Bitcoin’s, spurring expectations of smaller inflows compared with Bitcoin ETFs.

以太币是第二大数字资产，在基于区块链的金融服务中很受欢迎，但该代币的市值仍不到比特币的三分之一，这引发了与比特币 ETF 相比资金流入规模较小的预期。

Moreover, the Bitcoin funds benefited from a controversial narrative that pitches the top token as digital gold, a spin that Ether lacks. The Ether funds also won’t offer so-called staking rewards for blockchain maintenance, a return that can be harnessed by owning the token directly.

此外，比特币基金受益于一种有争议的说法，该说法将顶级代币定位为数字黄金，而以太币则缺乏这种说法。以太基金也不会为区块链维护提供所谓的质押奖励，这种回报可以通过直接拥有代币来获得。

“The flows are in line with our expectation,” said Vivien Wong, a partner at crypto investor HashKey Capital. She expects $3 billion to $5 billion of net inflows for the Ether portfolios over the next six months.

加密货币投资者 HashKey Capital 合伙人 Vivien Wong 表示：“资金流向符合我们的预期。”她预计未来六个月以太投资组合将出现 30 亿至 50 亿美元的净流入。

Eight new Ether funds listed on Tuesday, while the more than six-year-old Grayscale Ethereum Trust — the largest for Ether with assets of $8.6 billion — converted from a closed-end structure into an ETF. The conversion saw a net outflow of $484 million from the Grayscale product.

周二，有 8 只新的以太基金上市，而成立六年多的灰度以太坊信托基金（以太坊最大的基金，资产达 86 亿美元）从封闭式结构转变为 ETF。此次转换导致灰度产品净流出 4.84 亿美元。

There’s a risk that such outflows could counteract the positive impact of new subscriptions, potentially exerting “downward” market pressure, Wong added.

黄补充道，此类资金外流可能会抵消新认购的积极影响，从而可能施加“下行”市场压力。

Ether underperformed Bitcoin on Wednesday, dropping 1% as of 1:56 p.m. in Singapore compared with steady performance by the original cryptocurrency. Ether's 85% climb during a digital-asset rebound over the past year trails a 125% jump in Bitcoin, which scaled a record high in March.

周三，以太币的表现逊于比特币，截至新加坡下午 1:56，以太币下跌 1%，而原始加密货币表现稳定。在过去一年的数字资产反弹中，以太币的价格上涨了 85%，落后于比特币的 125% 涨幅，比特币在 3 月份创下了历史新高。

The US Ether ETFs posted “a very solid first day of trading,” said Bloomberg Intelligence ETF Analyst Rebecca Sin. She added that “the Ether market is much smaller than the Bitcoin market, so education is critical as we are only at the beginning of a long journey.”

彭博资讯 ETF 分析师 Rebecca Sin 表示，美国以太坊 ETF“首日交易表现非常强劲”。她补充说，“以太坊市场比比特币市场小得多，因此教育至关重要，因为我们才刚刚开始漫长的旅程。”

The US Securities and Exchange Commission in May surprisingly pivoted toward approval of spot-Ether ETFs after grudgingly allowing Bitcoin funds in the wake of a court reversal in 2023.

在 2023 年法院推翻判决后，美国证券交易委员会勉强允许比特币基金，但 5 月，美国证券交易委员会出人意料地转向批准现货以太 ETF。

The agency cracked down on the digital-asset industry following the collapse of the FTX exchange, but pro-crypto Donald Trump’s push to return to the White House had sparked speculation of a friendlier climate ahead.

FTX 交易所倒闭后，该机构对数字资产行业进行了打击，但支持加密货币的唐纳德·特朗普推动重返白宫引发了人们对未来气候更加友好的猜测。