华尔街为今年夏天推出以太坊 ETF 做好准备

今年已有多份以太币现货交易所交易基金（ETF）申请，反映出人们对全球第二大加密货币新投资工具的兴趣日益浓厚。

Multiple applications have been filed for spot ether exchange-traded funds (ETFs) this year, reflecting growing interest in the new investment vehicles for the world's second-largest cryptocurrency.

今年已有多份以太币现货交易所交易基金（ETF）申请，反映出人们对全球第二大加密货币新投资工具的兴趣日益浓厚。

The U.S. Securities and Exchange Commission (SEC) is expected to give full approval for ether ETFs this summer, allowing the new investment products to begin trading on Wall Street imminently, according to experts.

专家表示，美国证券交易委员会 (SEC) 预计将在今年夏天全面批准以太坊 ETF，从而允许新的投资产品立即在华尔街开始交易。

Companies looking to launch a spot ether ETF this summer include BlackRock, Fidelity, VanEck, Franklin Templeton, 21Shares, and Grayscale.

计划在今年夏天推出现货以太坊 ETF 的公司包括贝莱德 (BlackRock)、富达 (Fidelity)、VanEck、富兰克林邓普顿 (Franklin Templeton)、21Shares 和 Grayscale。

Grayscale, for example, plans to convert its existing ether trust into a spot ether ETF. The company, however, forecasts that the new investment vehicles might only draw up to a third of the interest that bitcoin ETFs have.

例如，Grayscale 计划将其现有的以太坊信托转换为现货以太坊 ETF。然而，该公司预测，新的投资工具可能只会吸引比特币 ETF 利息的三分之一。

Already, bitcoin ETFs have attracted approximately $38 billion, Morningstar Direct data shows. Ether ETFs are unlikely to garner the same level of market exuberance.

Morningstar Direct 数据显示，比特币 ETF 已经吸引了约 380 亿美元的资金。以太坊 ETF 不太可能获得同样水平的市场繁荣。

Given the relatively limited availability of ether in circulation, however, any significant inflows into ETFs could possibly wield a more pronounced impact on its price compared to bitcoin. In fact, the tighter supply of ether may amplify the effect of increased demand from ETF investments on the token's value.

然而，鉴于流通中的以太币相对有限，与比特币相比，任何大量资金流入 ETF 都可能对其价格产生更明显的影响。事实上，以太坊供应紧张可能会放大 ETF 投资需求增加对代币价值的影响。

"Ethereum has roughly half the level of spot liquidity [compared to bitcoin]," Thomas Perfumo, head of strategy at crypto exchange Kraken, recently told Reuters. "Half the amount of liquidity means that you need less amount of absolute dollars coming into the market to make the same price impact on Ethereum."

“以太坊的现货流动性水平大约是比特币的一半，”加密货币交易所 Kraken 策略主管 Thomas Perfumo 最近告诉路透社。 “流动性减半意味着你需要更少的绝对美元进入市场才能对以太坊产生相同的价格影响。”

In the crypto industry, there is also ongoing hope that investors won't have to wait much longer for ether ETFs to begin trading after final SEC approvals. "[I] will be shocked if spot ETFs [are] not trading [within the] next 2 weeks," Nate Geraci, co-founder of The ETF Institute, told media. "Later next week [is] a possibility, but think [the] week of July 15th [is] more likely. Interestingly, [the] price of [ether is down] 20%+ since the ‘surprise’ 19b-4 approvals in late May," he said.

在加密行业，人们一直希望投资者不必等待太久，以太坊 ETF 在获得 SEC 最终批准后即可开始交易。 ETF Institute 联合创始人 Nate Geraci 向媒体表示：“如果现货 ETF 在未来两周内没有交易，我会感到震惊。” “下周晚些时候是有可能的，但我认为 7 月 15 日这一周的可能性更大。有趣的是，自从 19b-4 获得“意外”批准以来，[以太币] 的价格下跌了 20% 以上。五月底，”他说。