BTC高考出分
背景
比特币是一种去中心化的数字货币，它不受任何组织和机构的控制，而是由一个开放的、分布式的网络维护和验证。比特币的价值取决于市场的供求关系，以及人们对其未来的信心和预期。
比特币的创新性和潜力吸引了许多投资者和机构的关注，但同时也带来了一些挑战和风险。比特币的交易和存储需要使用特殊的软件和硬件，以及对加密技术的理解。比特币的交易也受到不同国家和地区的法律和监管的影响，有时甚至面临禁止或限制的威胁。比特币的市场也缺乏透明度和标准化，容易受到操纵和欺诈的影响。
为了解决这些问题，一些金融机构和公司提出了一种新的投资工具，即比特币ETF。
比特币现货ETF和比特币期货ETF都是一种让投资者在不直接持有或管理比特币的情况下，获得比特币价格波动的敞口的交易所交易基金。它们都在传统的证券交易所进行交易，提供了更大的流动性和灵活性。
但比特币现货ETF的标的资产是比特币本身，它的表现与比特币的实时价格直接挂钩。而比特币期货ETF的标的资产是与比特币相关的期货合约，它的表现受合约市场动态影响，可能与比特币的现货价格存在显著差异。
可以说，比特币现货ETF是一种跟踪比特币现货价格的投资基金，它在传统的证券交易所进行交易，就像普通的股票一样。比特币现货ETF的优势在于，它可以让投资者在不直接持有或管理比特币的情况下，获得比特币价格波动的敞口。
这样，投资者可以避免比特币的技术和安全问题，同时享受比特币的增长潜力。比特币现货ETF的另一个优势是，它可以提高比特币的合法性和信誉。
目前，全球已有多个国家和地区批准了比特币 ETF 的上市和交易，例如加拿大、巴西、德国、瑞士等。
然而，美国作为全球最大的金融市场，却一直没有批准任何一只比特币 ETF，原因主要是美国证券交易委员会（SEC）对比特币市场的操纵、欺诈、透明度和监管等方面存在担忧。
SEC的担忧
比特币现货ETF受到证券交易委员会（SEC）等监管机构的监督和规范，这意味着它需要遵守一定的标准和要求，以保护投资者的利益和公共利益。比特币现货ETF的推出也可以增加比特币的流动性和透明度，从而减少市场的波动性和操纵的可能性。
比特币现货ETF的概念已经存在了多年，但迄今为止，美国SEC还没有批准任何一份申请，主要基于以下几点：
比特币市场的欺诈和操纵风险。SEC认为比特币市场缺乏透明度和监管，容易受到操纵者的影响，可能损害投资者和公共利益。
比特币的安全性和托管问题。SEC担心比特币的存储和交易存在被盗、丢失或损坏的风险，而现有的托管方案可能不符合其标准。
比特币的流动性和定价问题。SEC质疑比特币的市场深度和流动性是否足够支持一个稳定的ETF，以及比特币的价格是否在不同的交易平台之间保持一致。
比特币的监管和法律问题。SEC指出比特币的法律地位和监管框架在不同的国家和地区存在差异，可能导致不确定性和冲突。
然而，随着比特币市场的发展和改进，以及其他国家和地区的先例，比特币现货ETF的前景仍然充满希望。目前，已有多家知名的金融机构和公司向SEC提交了比特币现货ETF的申请，包括贝莱德（BlackRock）、方舟投资（Ark Invest）、富达（Fidelity）等。
如果比特币现货ETF获得批准，这将是比特币历史上的一个重大突破，也将是金融创新的一个里程碑。
比特币现货ETF将为比特币带来更多的投资者和机构，从而推动比特币的普及和采用。比特币现货ETF也将为投资者提供更多的选择和便利，从而增加比特币的价值和影响力。比特币现货ETF的出现，将使比特币更加接近成为一种全球性的、通用的、可信的和可持续的数字货币。
最新进展
此前，多家金融机构向SEC提交了比特币现货ETF的申请，包括Bitwise Asset Management、Wilshire Phoenix、WisdomTree Investments、Kryptoin Investment Advisors、NYDIG Asset Management、Valkyrie Investments、SkyBridge Capital、Fidelity Investments、Global X、Invesco、Goldman Sachs、ARK Invest和BlackRock等。这些申请中，有些已经被拒绝，有些已经被撤回，有些仍在等待中。
截至2024年1月9日，部分申请最新进展如下：
贝莱德、Valkyrie、Ark Invest、富达、Bitwise、灰度、Hashdex、Invesco、WisdomTree、富兰克林邓普顿和VanEck在内的11家比特币现货ETF申请商均已递交修订后的19b-4文件。19b-4文件即证券交易所规则变更提案，允许ETF进行交易。
资产管理公司 WisdomTree 推出的现货比特币 ETF「Wisdomtree Bitcoin Trust」（代码为 BTCW）已在 DTCC（美国证券集中保管结算公司）网站列出，创建/赎回（Create/Redeem）一栏显示为 N。
贝莱德就其 iShares 比特币信托向美国证券交易委员会（SEC）提交其现货比特币 ETF 的证券注册申请，即 8-A 表格。发行商的 8-A 形式文件允许发行人在交易平台交易的注册，并标志着朝着现货比特币 ETF 潜在批准的进展。
VanEck比特币现货ETF“VanEck Bitcoin Trust”（代码为HODL）已在DTCC（美国证券集中保管结算公司）网站列出，创建/赎回（Create/Redeem）一栏显示为N。此前消息，最新修订的S-1文件显示，VanEck已为其比特币现货ETF注入7250万美元种子基金。
Bitwise已经为其比特币现货ETF注入50万美元种子基金。与此同时，一旦获批，Pantera Capital拟向Bitwise的比特币现货ETF注入2亿美元。
Invesco/Galaxy已向美国SEC提交了比特币现货ETF的证券注册申请（8-A表格）。
最新比特币ETF费率汇总如下：
知名机构历程
BlackRock
BlackRock Bitcoin ETFBlackRock是全球最大的资产管理公司，管理着超过9万亿美元的资产。
该公司于2021年6月15日向SEC提交了一份名为BlackRock Bitcoin ETF的申请，该申请包含了一个新的条款，即监视共享协议（surveillance-sharing agreement），该协议允许该公司检测比特币市场中的欺诈和操纵行为。
该申请引起了业界的广泛关注，因为BlackRock在ETF申请方面有着近乎完美的记录，在576份申请中，只有1份被拒绝。此外，BlackRock的首席执行官劳伦斯·芬克（Laurence Fink）也曾表示，他对比特币持开放态度，并认为比特币可能会成为一种全球性的资产。
Fidelity
Fidelity是全球最大的金融服务公司之一，管理着超过4万亿美元的资产。该公司于2021年3月24日向SEC提交了一份名为Wise Origin Bitcoin Trust的申请，该申请由Fidelity旗下的子公司FD Funds Management LLC担任赞助人，由Fidelity Digital Assets Services LLC担任托管人。
该申请的亮点是，该公司已经在比特币市场上有了丰富的经验和资源，包括提供比特币托管、交易和研究服务，以及拥有自己的比特币矿场。此外，该公司还拥有强大的品牌影响力和客户基础，可以吸引更多的机构和个人投资者。
ARK
ARK是一家专注于创新领域的投资管理公司，管理着超过600亿美元的资产。该公司于2021年8月11日向SEC提交了一份名为ARK 21Shares Bitcoin ETF的申请，该申请由ARK旗下的子公司ARK ETF Trust担任赞助人，由21Shares AG担任顾问。
该申请的特点是，该公司已经在加拿大成功推出了两只比特币ETF，分别是Purpose Bitcoin ETF和Evolve Bitcoin ETF，这两只ETF都是在2021年2月获得加拿大证券监管机构批准的，也是北美第一批比特币现货ETF。此外，该公司的创始人兼首席执行官凯蒂·伍德（Cathie Wood）也是一位著名的比特币支持者，她曾表示，她相信比特币的价格将达到50万美元。
各方评论
目前，SEC尚未对任何一份比特币现货ETF的申请做出最终决定。
但SEC可能会做出什么样的决定呢？目前，业界对此存在不同的看法。
彭博ETF分析师Eric Balchunas发推表示，GBTC（Grayscale Bitcoin Trust）今日的交易量达到了近五亿美元，这超过了目前3000个ETF中99%的交易量。Balchunas指出，如果Grayscale与其他公司一起推出其产品（比特币现货ETF），他们将在交易量上占据优势，然而，他也提到，1.5%的费用可能会起到阻碍作用。
渣打银行表示，2024年比特币现货ETF获批后资金流入或将达到500亿至1000亿美元之间。到2025年底，比特币的价格或将达到20万美元。
彭博ETF分析师Eric Balchunas表示：“贝莱德在最新文件中将其比特币现货ETF费用调整至0.3%。这低于我之前的预测，因此我认为这将使得其他竞争对手面临更为艰难的竞争局面。而贝莱德提交ETF更新文件后20分钟，ARK在其ETF更新文件中将费用下降至0.25%。只要他们一推出，费用战就会爆发。”
此外，彭博社还报道称，本周将迎来一系列重要的最后期限，标志着多年来推动在美国推出以比特币为支持的交易所交易基金（ETF）努力的高潮。黄金ETF比比特币ETF存在更多潜在问题（杂质、假货等）。没有人强迫任何人购买潜在的比特币ETF。ETF不会改变比特币本身。它们只是一种选择。自由市场的好处是，我们可以让市场决定比特币ETF是否有价值。
CBOE Digital总裁John Palmer表示，比特币现货ETF的潜在批准将推动衍生品市场的增长，并为养老基金和RIA基金投资比特币现货ETF铺平道路。
高盛数字资产主管Mathew McDermott表示，现货比特币和以太坊交易所交易基金（ETF）的潜在批准将增加机构对加密货币的兴趣。McDermott称：“首先，它拓宽和深化了市场的流动性。因为这实际上是在创造机构产品，这些产品可以由不需要接触裸资产的机构进行交易，我认为这打开了养老金、保险公司等领域的大门。”
Bitwise的一项民意调查，大约40%的财务顾问表示，他们相信美国投资者将在2024年推出比特币ETF，而其他人则不太确定。调查还发现，即使大多数顾问认为今年比特币ETF不太可能获得批准，但有88%有兴趣代表客户购买比特币的受访者正在等待ETF上市。大约60%的受访者表示，客户在与财务顾问的关系之外也在涉足加密货币，Bitwise认为这对考虑是否推出加密产品的公司来说是一个有希望的迹象。
最后
总之，比特币现货ETF是一种具有重大意义的投资产品，它可以让投资者更方便、更安全、更合法地参与比特币市场，也可以推动比特币的流动性、透明度和合法性，促进比特币的广泛采用和发展。
然而，比特币现货ETF的推出并不容易，它需要经过SEC的严格审查和批准，而SEC的决定将会对比特币市场产生重大的影响。目前，SEC尚未对任何一份比特币现货ETF的申请做出最终决定。
但无论如何，BTC即将迎来高考出分时刻，我们都应该密切关注SEC的动态，以及比特币市场的变化，以便做出合理的投资决策。
Background Bitcoin is a decentralized digital currency. It is not controlled by any organization or institution, but is maintained and verified by an open and distributed network. The value of Bitcoin depends on the supply and demand of the market, people's confidence and expectation for its future. The innovation and potential of Bitcoin attract the attention of many investors and institutions, but it also brings some challenges and risks. The transaction and storage of Bitcoin require the use of special software and hardware and the understanding of encryption technology. In order to solve these problems, some financial institutions and companies have put forward a new investment tool, namely, bitcoin, bitcoin spot and bitcoin futures, which are exchange-traded funds that allow investors to gain exposure to bitcoin price fluctuations without directly holding or managing bitcoin. They are all traded on traditional stock exchanges, which provides greater liquidity and flexibility. However, the underlying asset of bitcoin spot is bitcoin itself, and its performance is directly linked to the real-time price of bitcoin, while the underlying asset of bitcoin futures is a futures contract related to bitcoin, and its performance may be significantly different from the spot price of bitcoin. It can be said that bitcoin spot is an investment fund that tracks the spot price of bitcoin. It is in the traditional stock exchange. Trading is just like ordinary stocks. The advantage of bitcoin spot is that it allows investors to gain exposure to bitcoin price fluctuations without directly holding or managing bitcoin, so that investors can avoid the technical and security problems of bitcoin and enjoy the growth potential of bitcoin. Another advantage of bitcoin spot is that it can improve the legitimacy and credibility of bitcoin. At present, many countries and regions around the world have approved the listing and trading of bitcoin, such as Canada, Brazil and Germany. Switzerland, etc. However, the United States, as the world's largest financial market, has not approved any bitcoin. The main reason is that the US Securities and Exchange Commission is worried about the manipulation, fraud, transparency and supervision of the bitcoin market. The spot bitcoin is supervised and regulated by the Securities and Exchange Commission and other regulatory agencies, which means that it needs to comply with certain standards and requirements to protect the interests of investors and the public interest. The launch of the spot bitcoin can also increase the liquidity and transparency of bitcoin. The concept of transparency to reduce the volatility of the market and the possibility of manipulation has existed for many years, but so far, the United States has not approved any application, mainly based on the following risks of fraud and manipulation in the bitcoin market. It is believed that the bitcoin market lacks transparency and supervision is easily influenced by manipulators, which may damage the security and custody of investors and the public. The existing custody is worried that the storage and trading of bitcoin are at risk of theft, loss or damage. The scheme may not meet its standard. The liquidity and pricing of Bitcoin question whether the market depth and liquidity of Bitcoin are enough to support a stable and whether the price of Bitcoin is consistent among different trading platforms. The regulatory and legal issues of Bitcoin point out that the legal status and regulatory framework of Bitcoin are different in different countries and regions, which may lead to uncertainty and conflict. However, with the development and improvement of Bitcoin market and the precedent of Bitcoin in other countries and regions, The prospect of spot is still full of hope. At present, many well-known financial institutions and companies have submitted applications for bitcoin spot, including BlackRock Ark's investment in Fidelity, etc. If bitcoin spot is approved, it will be a major breakthrough in the history of bitcoin and a milestone in financial innovation. Bitcoin spot will bring more investors and institutions to Bitcoin, thus promoting the popularization and adoption of Bitcoin, and will also provide investors with more choices and convenience, thus increasing the ratio. The value and influence of special currency The emergence of bitcoin spot will make bitcoin closer to becoming a global, universal, credible and sustainable digital currency's latest progress. Previously, many financial institutions submitted applications for bitcoin spot, including and so on. Some of these applications have been rejected, some have been withdrawn and some are still waiting. As of June, the latest progress of some applications is as follows: BlackRock Fidelity Gray Franklin Templeton and several bitcoin spot applicants have submitted amendments. The latter document, namely, the proposal to change the rules of the stock exchange to allow transactions, shows that the spot bitcoin code introduced by the asset management company has been listed on the website of the United States Securities Centralized Custody and Clearing Corporation, and the column shows BlackRock's application for securities registration of its spot bitcoin to the US Securities and Exchange Commission, that is, the form document of the issuer allows the issuer to register on the trading platform and marks the progress towards the potential approval of spot bitcoin. The goods code is listed in the column of creating redemption on the website of the United States Securities Centralized Custody and Clearing Corporation. The latest revised document shows that it has injected $10,000 into its bitcoin spot. The seed fund has injected $10,000 into its bitcoin spot. At the same time, once it is approved to inject $100 million into the bitcoin spot, it has submitted the application form for securities registration of bitcoin spot to the United States. The latest bitcoin rate is summarized as follows: The history of well-known institutions is the largest asset management company in the world. With assets of more than one trillion dollars, the company submitted an application named, which contains a new clause, namely, monitoring and sharing agreement, which allows the company to detect fraud and manipulation in the bitcoin market. This application has aroused widespread concern in the industry because of its near-perfect record in application, and only one of the applications was rejected. In addition, CEO Lawrence Fink also said that he is open to bitcoin and thinks that bitcoin may become one. This global asset is one of the largest financial services companies in the world, which manages over one trillion dollars of assets. The company submitted an application named on. The application is sponsored by its subsidiaries and managed by custodians. The highlight of this application is that the company has rich experience and resources in the bitcoin market, including providing bitcoin custody transactions and research services, and owning its own bitcoin mine. In addition, the company has strong brand influence and customer base, which can attract more institutional and individual investors. It is an investment management company focusing on innovation and manages over 100 million yuan. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台
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