随着 ETF 获批临近，质押以太币 (ETH) 接近历史新高

Polymarket 投注者认为以太坊 ETF 在 7 月 26 日之前获得批准的可能性为 90%。

A proposal to launch an ether (ETH) exchange-traded fund (ETF) in the U.S. has gained steam among bettors on prediction market Polymarket, with a 90% chance that the ETF will be approved by July 26.

在美国推出以太坊 (ETH) 交易所交易基金 (ETF) 的提议在预测市场 Polymarket 的投注者中获得了支持，该 ETF 有 90% 的机会在 7 月 26 日之前获得批准。

Meanwhile, data from on-chain analytics firm CryptoQuant shows that the total amount of ether staked has reached 33.3 million ETH, or 27.7% of the total supply, as of press time on Friday. This marks a slight increase from the 27.4% that was staked at the beginning of the year.

与此同时，链上分析公司 CryptoQuant 的数据显示，截至周五发稿时，质押的以太币总量已达到 3330 万枚 ETH，占总供应量的 27.7%。这比年初的 27.4% 略有增加。

"The total number of staked ETH has continued to increase and sits near its all-time high as it stands at 33.3 million ETH or 27.7% of the total supply," Julio Moreno, CryptoQuant's head of research, wrote in a note shared with CoinDesk.

CryptoQuant 研究主管 Julio Moreno 在与 CoinDesk 分享的一份报告中写道：“抵押的 ETH 总数持续增加，接近历史最高水平，达到 3330 万枚 ETH，占总供应量的 27.7%。” 。

As previously reported by CoinDesk, the approval of an ether ETF would be a major milestone for the cryptocurrency, which has seen several attempts to launch an ETF fail in the past. However, the recent approval of a bitcoin (BTC) ETF and the increasing demand for ether have raised hopes that an ether ETF could finally be approved.

正如 CoinDesk 之前报道的那样，以太坊 ETF 的批准将是加密货币的一个重要里程碑，过去曾多次尝试推出 ETF，但均以失败告终。然而，最近比特币 (BTC) ETF 的批准以及对以太坊需求的不断增加，引发了人们对以太坊 ETF 最终获得批准的希望。

Several asset managers, including Invesco, Galaxy Digital and VanEck, have filed applications with the U.S. Securities and Exchange Commission (SEC) to launch spot ether ETFs. These ETFs would track the price of ether in real time, unlike futures ETFs, which track the price of ether futures contracts.

Invesco、Galaxy Digital 和 VanEck 等多家资产管理公司已向美国证券交易委员会 (SEC) 提交了推出以太币现货 ETF 的申请。这些 ETF 将实时跟踪以太坊的价格，这与跟踪以太坊期货合约价格的期货 ETF 不同。

The applications are currently under review by the SEC, which has 45 days to approve, reject or delay the applications. If the applications are approved, the ether ETFs could begin trading on the New York Stock Exchange Arca as early as March 24.

这些申请目前正在接受 SEC 的审查，SEC 有 45 天的时间来批准、拒绝或推迟这些申请。如果申请获得批准，以太坊 ETF 最早将于 3 月 24 日在纽约证券交易所 Arca 开始交易。

Moreno also highlighted that the increasing supply of ether, the second-largest cryptocurrency by market capitalization, suggests that it has returned to being an inflationary asset, which could hinder its ability to act as a store of value over time.

莫雷诺还强调，以太币（按市值计算的第二大加密货币）的供应量不断增加，表明它已重新成为一种通胀资产，这可能会随着时间的推移阻碍其作为价值储存手段的能力。

"ETH supply is growing again, although slowly. But the narrative of ultra-sound money has ended. The total supply is at its highest level since December 11, 23," Moreno wrote.

“ETH 供应量再次增长，尽管速度缓慢。但超音速货币的故事已经结束。总供应量达到 23 年 12 月 11 日以来的最高水平，”莫雷诺写道。

"Spot trading volume data shows ETH is becoming as liquid as BTC, with ETH spot trading volume being 80%-90% of BTC in the last few weeks," he added.

他补充道：“现货交易量数据显示，ETH 的流动性正变得与 BTC 一样，过去几周 ETH 现货交易量是 BTC 的 80%-90%。”

Data from CoinMetrics , on the other hand, shows that about 12% of ether's supply is being used in smart contracts or bridges that connect between blockchains. Between that amount and the tokens that are staked, roughly 40% of the cryptocurrency is "locked" and not being actively traded.

另一方面，CoinMetrics 的数据显示，大约 12% 的以太币供应用于连接区块链的智能合约或桥梁。在该金额和质押的代币之间，大约 40% 的加密货币被“锁定”并且没有活跃交易。