BTC现货ETF魔力初显 养老基金也要入场

币圈资讯 阅读:46 2024-04-22 11:14:19 评论:0
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作者:智商税局

美国BTC现货ETF悬而未决,香港等不及了。12月22日,香港证监会连发4则通函,最重磅的莫过于宣布将批准虚拟资产现货ETF。

OldMoney难以抗拒的“春药”

美国BTC现货ETF悬而未决,香港等不及了。12月22日,香港证监会连发4则通函,最重磅的莫过于宣布将批准虚拟资产现货ETF。

BTC现货ETF,是加密世界最梦寐以求的一剂“春药”。单是历史上每次讨论,就会引得市场高潮连连。如今,香港要把这瓶猛药打开,将近十年全球表现最好的金融资产裱近ETF里,难免引得早就蠢蠢欲动的Old Money朝思暮想。

BTC现货ETF魔力初显,养老基金也要入场

许多传统基金早就馋上了比特币的身子,奈何碍于风险太高,没有合规入场渠道,只能眼瞅着比特币高耸直上,这滋味着实不好受,所以有的机构哪怕只能进不能出,也要把钱交给灰度买BTC;更有甚者盯上了重仓梭哈BTC的上市公司Microstrategy,狂买它的股票,间接一亲BTC的芳泽。

虽然芝加哥商品交易所早就上市了比特币期货ETF,香港也有南方东英推出的期货ETF,但压根解不了老财团们的渴。毕竟,绝大多数公募基金都没法炒期货,投资列表里也不能加上BTC这种高风险资产的选项。但现货ETF不一样,无论是公募、私募基金,现货ETF都是常规投资标的,甭管里面装的是BTC还是黄金,一概可以出手。

数千亿美金增量带来翻倍涨幅

随着香港、美国放开比特币现货ETF,BTC ETF将直接登陆传统证券市场,基金、家族办公室、上市公司不需要修改投资范围,就能在习惯的证券软件中配置BTC。而在市场优质资产稀缺的当下,比特币作为最红、最热门的新资产,足以靠ETF这剂“春药”成为新晋投资标的里的头牌。

美国401(k)养老金已经跃跃欲试了。华盛顿州斯波坎市哥伦比亚咨询公司的创始人Steven T. Larsen称,一旦美国SEC对比特币现货ETF点头,将有更多公司决定在其401(k)产品阵容中提供比特币ETF。

BTC现货ETF魔力初显,养老基金也要入场

一旦养老基金这样的庞大资金入场,加密市场将迎来巨大增量。单看美国市场,目前14家现货比特币ETF申请机构的总资产管理规模为14万亿美元,这些资金哪怕有1%入场,就能带来千亿美元级别的新增资金。而401(k)养老金规模超过7万亿美元,同样有望带来百亿美元资金。

再看香港市场,港交所市场规模近5万亿美元,诸多在港大型资管机构AUM达数千亿美金,在香港证监会极力发展Web3的背景下,投资BTC现货ETF将成为资管机构的一个重要选项,百亿美元级别的资金可能将陆续涌入BTC ETF。

预计数年之后,全球数千亿美元的资金将注入BTC现货ETF,当前BTC市值为8000多亿美元,且超过半数都被长期持有者掌握,市场流通盘有限,千亿美元级别资金入场,BTC有望再度快速翻倍。

谁能上“牌桌?”

虚拟资产现货ETF的庞大潜在规模,无疑将为ETF发行方提供巨大的机遇。在美国,贝莱德、灰度这样的资管机构已经行动起来,而香港又有哪些机构能抓住这波金融红利?

香港的基金中,嘉实基金、华夏基金实力强劲,前者发行了嘉实中证500ETF、后者发行了华夏上证50ETF,这两家中资老牌基金拥有足够的实力发行BTC现货ETF。奈何,中资背景一定程度形成桎梏,因中国大陆对BTC等虚拟资产严厉监管,中资基金发行BTC ETF的审批程序受阻。

而香港当前约有上千家9号牌资管机构,但传统持9号牌机构仅可管理投资虚拟资产比例小于10%的投资组合,只有经过虚拟资产升级以后,才可以管理投资虚拟资产比例10%-100%的投资组合。当前,升级9号牌的机构不过十余家,分别为老牌本土券商胜利证券、Pando Finance意博资本亚洲等等。

其中胜利证券在虚拟资产领域布局活跃,不久前成为香港首个面向零售投资者提供虚拟资产交易的券商,还联合EMC Labs发行了首个接受稳定币认购的合规BTC基金,想必其不会错过这个“上桌”的机会。

除此之外,此前发行BTC期货ETF的南方东英、持牌虚拟资产交易所HashKey也有望从BTC现货ETF中分得一杯羹。而这波香港的加密浪潮,诸如币安这类交易所巨头一直处于失声状态,基本与其无缘。

预计很快,香港首个BTC现货ETF就将亮相,届时这剂“春药”的魔力究竟几何,便可知晓。


The author's IQ tax bureau is pending in the US spot. Hong Kong can't wait for the Hong Kong Securities Regulatory Commission to issue a circular letter. The most important thing is to announce that it will approve the virtual assets spot irresistible aphrodisiac. The US spot is pending. Hong Kong can't wait for the Hong Kong Securities Regulatory Commission to issue a circular letter. The most important thing is to announce that it will approve the virtual assets spot. It is the most coveted aphrodisiac in the encrypted world. Every discussion in history will lead to market climax again and again. Now Hong Kong wants to open this bottle of aphrodisiac. Ten years' mounting of the world's best-performing financial assets will inevitably lead to the yearning for spot magic, and pension funds will also enter the market. Many traditional funds have long been addicted to bitcoin, but because the risk is too high and there is no compliance admission channel, they can only watch bitcoin soar. This taste is really unpleasant, so some institutions have to give money to the gray level to buy even if they can only get in but can't get out. What's more, they are eyeing the listed companies with heavy positions in Soho to buy its shares. However, the Chicago Mercantile Exchange has listed bitcoin futures for a long time, and Hong Kong also has futures launched by Southern Dongying, but it can't solve the thirst of the old consortia at all. After all, most Public Offering of Fund can't speculate on futures investment lists and can't add the option of such high-risk assets, but the spot is different. Whether it is public offering and private equity funds, the spot is a conventional investment target, regardless of whether it is contained in it or gold, it can double the increase by hundreds of billions of dollars. With the liberalization of bitcoin in Hong Kong and the United States, the spot will be directly increased. Listed companies landing in the traditional securities market fund family office can be configured in the customary securities software without modifying the investment scope. However, at the moment when high-quality assets in the market are scarce, Bitcoin, as the hottest and hottest new asset, is enough to become the top spot in the new investment target with this aphrodisiac. American pensions have been eager to try. The founder of Columbia Consulting in Spokane, Washington said that once the United States nods to Bitcoin on the spot, more companies will decide to provide bits in their product lineup. The spot magic of coins is beginning to show up, and pension funds will also enter the market. Once such huge funds as pension funds enter the market, the encryption market will usher in a huge increase. Looking at the US market alone, the total assets management scale of the current spot bitcoin applicant institutions is trillions of dollars. Even if these funds enter the market, they will bring new funds of hundreds of billions of dollars, and the pension scale exceeding trillions of dollars is also expected to bring tens of billions of dollars. Look at the Hong Kong market, the market size of the Hong Kong Stock Exchange is nearly trillions of dollars, and many large asset management institutions in Hong Kong reach thousands. Under the background of the vigorous development of the Hong Kong Securities Regulatory Commission, investing in spot will become an important option for asset management institutions. It is expected that hundreds of billions of dollars of global funds will be injected into the spot in a few years. At present, the market value is more than hundreds of millions of dollars, and more than half of them are controlled by long-term holders. The admission of limited billions of dollars of funds is expected to double rapidly again. The huge potential scale of virtual assets on the table will undoubtedly provide huge opportunities for issuers. When the asset management institutions such as BlackRock Gray in the United States have taken action, and which institutions in Hong Kong can seize this wave of financial dividends, harvest fund Huaxia Fund is strong. The former has issued Harvest China Securities and the latter has issued Huaxia Shanghai Stock Exchange. These two Chinese-funded old funds have sufficient strength to issue cash, but the Chinese-funded background has formed a certain degree of shackles. Due to the strict supervision of Chinese mainland's peer-to-peer virtual assets, the approval process for the issuance of Chinese-funded funds has been blocked, and there are currently about thousands of license plates in Hong Kong. Management institutions, but traditional license-holding institutions can only manage investment portfolios with less than the proportion of virtual assets. Only after upgrading virtual assets can they manage investment portfolios with the proportion of virtual assets. At present, there are only more than a dozen institutions that upgrade their license plates, including established local brokers Shengli Securities Yibo Capital Asia, among which Shengli Securities is active in the field of virtual assets. Not long ago, it became the first brokerage firm in Hong Kong to provide virtual assets transactions for retail investors, and jointly issued the first one to accept stability. The compliance fund subscribed by COINS will surely not miss this opportunity to go to the table. In addition, the Southern Dongying Licensed Virtual Assets Exchange, which previously issued futures, is also expected to get a share of the spot. This wave of encryption in Hong Kong, such as the exchange giants such as COINS, has been in a state of silence, and it is basically impossible to predict that the first spot in Hong Kong will be unveiled soon. At that time, the magic of this aphrodisiac will be known 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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