拓展视野：超越比特币

与 Jason Leibowitz 一对一讨论 CoinDesk 20 并解锁广泛的加密货币曝光

expanding horizons: looking beyond bitcoin

拓展视野：超越比特币

one-on-one with jason leibowitz on the coindesk 20 and unlocking broad crypto exposure

与 Jason leibowitz 在 coindesk 20 上进行一对一交流并解锁广泛的加密货币曝光

hashnote coin desk 20 index fund series

hashnote coin desk 20指数基金系列

10 years of decentralizing the future

去中心化未来10年

jason leibowitz, head of private wealth at hashnote, discusses the evolution of the crypto market and the forward-looking strategies implemented by hashnote to navigate this dynamic landscape.

hashnote 私人财富主管 Jason leibowitz 讨论了加密货币市场的演变以及 hashnote 为驾驭这一动态格局而实施的前瞻性策略。

the interview was conducted by coindesk indices and is not associated with coindesk editorial. the views and opinions expressed are those of the author and not associated with coindesk. this is not financial advice.

该采访是由 coindesk 指数进行的，与 coindesk 社论无关。所表达的观点和意见仅代表作者个人观点，与 coindesk 无关。这不是财务建议。

how has bitcoin’s recent halving impacted the crypto asset class, and what opportunities does it present for investors?

比特币最近的减半对加密资产类别有何影响？它为投资者带来了哪些机会？

the bitcoin halving reduces the supply of new bitcoin entering circulation by decreasing mining rewards, which in turn curbs selling pressure from miners. historically, these events have preceded significant price appreciation in the following 12 to 18 months. while future outcomes are uncertain, optimism remains high for potential new all-time highs in the coming year.

比特币减半通过减少挖矿奖励来减少进入流通的新比特币的供应，这反过来又抑制了矿工的抛售压力。从历史上看，这些事件都会导致价格在接下来的 12 至 18 个月内大幅上涨。尽管未来结果不确定，但人们对来年可能创下历史新高的乐观情绪仍然很高。

how should investors be thinking about their portfolios in response to the implications of the bitcoin halving and the evolving dynamics of the crypto market cycle?

投资者应该如何考虑他们的投资组合，以应对比特币减半的影响和加密货币市场周期不断变化的动态？

given the impact of the bitcoin halving and the evolving market dynamics, investors may consider realigning their portfolios. while bitcoin's performance often sets the tone for market sentiment, diversifying across major cryptocurrencies could mitigate the risks associated with single-asset exposure. exploring indexes like the coindesk 20 index offers broader market exposure beyond bitcoin. investors may find that such indexes help give an understanding of broader market dynamics and can be an asset to their toolkit.

考虑到比特币减半的影响和不断变化的市场动态，投资者可能会考虑重新调整其投资组合。虽然比特币的表现常常为市场情绪定下基调，但主要加密货币的多元化可以减轻与单一资产敞口相关的风险。探索像 coindesk 20 指数这样的指数可以提供比特币以外更广泛的市场敞口。投资者可能会发现此类指数有助于了解更广泛的市场动态，并且可以成为他们的工具包的资产。

how do asset managers like hashnote aim to give investors exposure to the coindesk 20 index?

像 hashnote 这样的资产管理公司如何让投资者接触到 coindesk 20 指数？

hashnote provides access to the coindesk 20 via its coindesk 20 index fund series, streamlining portfolio diversification. this offering, part of hashnote’s new long token fund, simplifies the management of multiple cryptocurrencies by offering exposure to a market cap-weighted basket of the top 20 coins that make up the coindesk 20. the hashnote coindesk 20 index fund series offers an efficient and convenient means for investors to access diversified exposure to the crypto market.

hashnote 通过其 coindesk 20 指数基金系列提供对 coindesk 20 的访问，从而简化了投资组合的多元化。该产品是 hashnote 新多头代币基金的一部分，通过提供构成 coindesk 20 的前 20 种代币的市值加权篮子敞口，简化了多种加密货币的管理。 hashnote coindesk 20 指数基金系列提供了高效且为投资者提供多元化投资加密货币市场的便捷方式。

the coindesk 20 just went through a reconstitution, per the public methodology, and added the near protocol. would you like to comment on the reconstitution?

coindesk 20 刚刚根据公共方法进行了重组，并添加了近协议。您想对重组发表评论吗？

a notable addition to the coindesk 20 during the second quarter's rebalancing was the near protocol, a layer-one blockchain renowned as a community-run cloud computing platform. near protocol stands out for its innovative solutions to common blockchain challenges, such as low transaction speeds and poor interoperability. what sets near apart is its integration of artificial intelligence (ai) into the protocol. near aims to democratize ai by making it open source, leveraging its not-for-profit and decentralized nature. this integration of ai is expected to accelerate development speed and improve user experience, in line with near's vision of fostering an open, permissionless ecosystem. this exemplifies the coindesk 20’s forward-thinking methodology that now includes successful projects like near which drive innovation in the crypto sphere, helping enable investor access to emerging technologies poised for significant growth.

在第二季度的重新平衡期间，coindesk 20 的一个值得注意的新增内容是近协议，这是一个以社区运行的云计算平台而闻名的第一层区块链。近协议因其针对常见区块链挑战（例如交易速度低和互操作性差）的创新解决方案而脱颖而出。与众不同之处在于它将人工智能 (ai) 集成到协议中。 Near 的目标是通过开源、利用人工智能的非营利性和去中心化性质来实现人工智能的民主化。人工智能的这种集成预计将加快开发速度并改善用户体验，这符合 NEAR 培育开放、无需许可的生态系统的愿景。这体现了 coindesk 20 的前瞻性思维方法，该方法现在包括成功的项目，例如推动加密领域创新的、帮助投资者获得有望显着增长的新兴技术的项目。

what feedback have you received from clients and industry participants regarding the coindesk 20 index?

您从客户和行业参与者那里收到了关于 coindesk 20 指数的哪些反馈？

feedback on the coindesk 20 has been overwhelmingly positive, reflecting several key advantages appreciated by both clients and industry participants. many clients have expressed the need for a reliable benchmark to compare their crypto investments against, and the coindesk 20 serves this purpose effectively. additionally, clients are relieved that they no longer have to manage multiple wallets and private keys across various cryptocurrencies, thanks to the hashnote coindesk 20 index fund series’ one-touch, diversified access.

对 coindesk 20 的反馈非常积极，反映出客户和行业参与者都赞赏的几个关键优势。许多客户表示需要一个可靠的基准来比较他们的加密货币投资，而 coindesk 20 有效地满足了这一目的。此外，得益于 hashnote coindesk 20 指数基金系列的一键式、多元化访问，客户不再需要管理各种加密货币的多个钱包和私钥，这让他们感到放心。

industry participants have also noted the coindesk 20's alignment with the markowitz model of portfolio theory, which suggests that risks can be minimized through diversification. the coindesk 20’s market cap-weighted index provides efficient exposure to a broad range of digital assets, embodying this principle. furthermore, the coindesk 20 addresses the difficulty clients faced in sourcing liquidity for smaller tokens and deciding which non-core tokens (beyond bitcoin and ethereum) to allocate to. overall, the coindesk 20 has become a valuable tool for investors seeking comprehensive and efficient market exposure, facilitating broader adoption of cryptocurrencies within traditional investment portfolios.

行业参与者还注意到 coindesk 20 与投资组合理论的马科维茨模型的一致性，这表明可以通过多元化将风险降至最低。 coindesk 20 的市值加权指数提供了对广泛数字资产的有效敞口，体现了这一原则。此外，coindesk 20 还解决了客户在为较小的代币寻找流动性以及决定分配哪些非核心代币（比特币和以太坊之外）时所面临的困难。总体而言，coindesk 20 已成为寻求全面、高效市场敞口的投资者的宝贵工具，有助于在传统投资组合中更广泛地采用加密货币。

visit https://www.hashnote.com/products/coindesk-20 for more information.

访问 https://www.hashnote.com/products/coindesk-20 了解更多信息。

this content was produced by coindesk indices, inc. (“cdi”) and not the coindesk editorial team. cdi does not sponsor, endorse, sell, promote or manage any investment offered by any third party that seeks to provide an investment return based on the

该内容由 coindesk Index, Inc. 制作。 （“cdi”）而不是 coindesk 编辑团队。 CDI 不赞助、认可、出售、推广或管理任何第三方提供的任何投资，这些投资旨在根据以下内容提供投资回报：