{"id":696,"date":"2025-02-27T07:53:19","date_gmt":"2025-02-26T23:53:19","guid":{"rendered":"https:\/\/www.db-hk.com\/?p=696"},"modified":"2025-02-27T07:53:19","modified_gmt":"2025-02-26T23:53:19","slug":"bitwise%e9%a6%96%e5%b8%ad%e6%8a%95%e8%b5%84%e5%ae%98%ef%bc%9a%e4%b8%ba%e4%bd%95%e7%8e%b0%e8%b4%a7%e4%bb%a5%e5%a4%aa%e5%9d%8aetp%e5%b0%86%e5%90%b8%e5%bc%95%e7%99%be%e4%ba%bf%e7%be%8e%e5%85%83","status":"publish","type":"post","link":"http:\/\/www.fubairui.net\/?p=696","title":{"rendered":"Bitwise\u9996\u5e2d\u6295\u8d44\u5b98\uff1a\u4e3a\u4f55\u73b0\u8d27\u4ee5\u592a\u574aETP\u5c06\u5438\u5f15\u767e\u4ebf\u7f8e\u5143"},"content":{"rendered":"<p>\u6bcf\u4e2a\u4eba\u90fd\u60f3\u77e5\u9053\u73b0\u8d27\u4ee5\u592a\u574a ETP \u5c06\u5438\u5f15\u591a\u5c11\u8d44\u91d1\u3002\u6211\u7684\u7b54\u6848\u662f\uff1a\u524d 18 \u4e2a\u6708\u5c06\u5438\u5f15 150 \u4ebf\u7f8e\u5143\u3002\u00a0<\/p>\n<p>\u4f5c\u8005\u6ce8\uff1a\u867d\u7136\u300cETF\u300d\u662f\u5927\u591a\u6570\u4eba\u7528\u6765\u63cf\u8ff0\u73b0\u8d27\u6bd4\u7279\u5e01\u548c\u73b0\u8d27\u4ee5\u592a\u574a\u57fa\u91d1\u7684\u672f\u8bed\uff0c\u4f46\u4ece\u6280\u672f\u4e0a\u8bb2\uff0c\u5b83\u4eec\u66f4\u5e94\u8be5\u88ab\u89c6\u4e3a ETP\uff08\u4ea4\u6613\u6240\u4ea4\u6613\u4ea7\u54c1\uff09\u3002\u8fd9\u662f\u56e0\u4e3a\u76d1\u7ba1\u673a\u6784\u5bf9 1933 \u5e74\u6cd5\u6848\u4ea7\u54c1 (ETP) \u548c 1940 \u5e74\u6cd5\u6848\u4ea7\u54c1 (ETF) 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\u4ebf\u7f8e\u5143\uff0874%\uff09<\/li>\n<li>\u4ee5\u592a\u574a\uff1a4320 \u4ebf\u7f8e\u5143\uff0826%\uff09<\/li>\n<\/ul>\n<p>\u7f8e\u56fd\u6295\u8d44\u8005\u76ee\u524d\u5df2\u5728\u73b0\u8d27\u6bd4\u7279\u5e01 ETP \u4e0a\u6295\u8d44\u4e86 560 \u4ebf\u7f8e\u5143\u3002\u6211\u4f30\u8ba1\uff0c\u968f\u7740\u8fd9\u4e9b ETP \u7684\u6210\u719f\u4ee5\u53ca\u6469\u6839\u58eb\u4e39\u5229\u548c\u7f8e\u6797\u7b49\u5e73\u53f0\u7684\u8fdb\u5165\uff0c\u5230 2025 \u5e74\u5e95\uff0c\u8fd9\u4e00\u6570\u5b57\u5c06\u8fbe\u5230 1000 \u4ebf\u7f8e\u5143\u751a\u81f3\u66f4\u591a\u3002<\/p>\n<p>\u4ee5\u8fd9\u4e2a 1000 \u4ebf\u7f8e\u5143\u7684\u6570\u5b57\u4f5c\u4e3a\u53c2\u8003\uff0c\u73b0\u8d27\u4ee5\u592a\u574a ETP \u9700\u8981\u5438\u5f15 350 \u4ebf\u7f8e\u5143\u7684\u8d44\u4ea7\u624d\u80fd\u5339\u914d\u6bd4\u7279\u5e01\u7684\u89c4\u6a21\uff0c\u6211\u9884\u8ba1\u8fd9\u4e2a\u8fc7\u7a0b\u5927\u7ea6\u9700\u8981 18 \u4e2a\u6708\u3002<\/p>\n<p>\u8fd9\u662f\u5426\u610f\u5473\u7740\u4ee5\u592a\u574a ETP \u63a8\u51fa\u65f6\uff0c\u6211\u4eec\u5e94\u8be5\u9884\u671f\u4f1a\u6709 350 \u4ebf\u7f8e\u5143\u7684\u8d44\u91d1\u6d41\u5165\uff1f\u4e0d\u3002\u9996\u5148\uff0c\u7070\u5ea6\u4ee5\u592a\u574a\u4fe1\u6258 (NYSE: ETHE) \u9884\u8ba1\u5c06\u5728\u63a8\u51fa\u5f53\u5929\u8f6c\u6362\u4e3a ETP\uff0c\u8fd9\u5c31\u5e26\u6765\u4e86 100 \u4ebf\u7f8e\u5143\u7684\u8d44\u4ea7\u3002<\/p>\n<p>\u6263\u9664\u8fd9\u4e00\u6570\u989d\uff0c\u6211\u4eec\u5e94\u8be5\u8fd8\u6709 250 \u4ebf\u7f8e\u5143\u7684\u6d41\u5165\u3002<\/p>\n<p>\u8fd9\u4e2a\u4f30\u8ba1\u5408\u7406\u5417\uff1f \u6211\u4eec\u6765\u770b\u770b\u56fd\u5916\u7684\u6570\u636e\u3002<\/p>\n<p><strong>\u56fd\u9645 ETP \u5e02\u573a\u7684\u7ecf\u9a8c<\/strong><\/p>\n<p>\u56fd\u5916 ETP \u5e02\u573a\u4e0e\u7f8e\u56fd ETP 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\u4fe1\u6258\u7684\u8d44\u4ea7\u3002<\/p>\n<p><strong>\u5176\u4ed6\u9700\u8981\u8003\u8651\u7684\u56e0\u7d20<\/strong><\/p>\n<p>\u8fd8\u6709\u4e00\u4e2a\u9700\u8981\u8003\u8651\u7684\u91cd\u8981\u56e0\u7d20\uff1a\u300c\u5957\u5229\u4ea4\u6613\u300d\u5728\u6bd4\u7279\u5e01\u548c\u4ee5\u592a\u574a ETP \u5e02\u573a\u4e2d\u53ef\u80fd\u53d1\u6325\u4e0d\u540c\u7684\u4f5c\u7528\u3002<\/p>\n<p>\u7f8e\u56fd\u6bd4\u7279\u5e01 ETP \u6d41\u91cf\u7684\u5f88\u5927\u4e00\u90e8\u5206\u4e0e\u5957\u5229\u4ea4\u6613\u6709\u5173\u3002\u5957\u5229\u4ea4\u6613\u6d89\u53ca\u8d2d\u4e70\u73b0\u8d27\u6bd4\u7279\u5e01 ETP\uff0c\u7136\u540e\u9488\u5bf9\u8be5\u5934\u5bf8\u51fa\u552e\u6bd4\u7279\u5e01\u671f\u8d27\u5408\u7ea6\u3002\u8be5\u4ea4\u6613\u7684\u5229\u6da6\u6765\u81ea\u6bd4\u7279\u5e01\u671f\u8d27\u5408\u7ea6\u76ee\u524d\u4ea4\u6613\u4ef7\u683c\u9ad8\u4e8e\u73b0\u8d27\u4ef7\u683c\u8fd9\u4e00\u60c5\u51b5\u3002\u5957\u5229\u4ea4\u6613\u7684\u76c8\u5229\u80fd\u529b\u5404\u4e0d\u76f8\u540c\uff0c\u4f46\u81ea\u6bd4\u7279\u5e01 ETP \u63a8\u51fa\u4ee5\u6765\u7684\u5927\u90e8\u5206\u65f6\u95f4\u91cc\uff0c\u6295\u8d44\u8005\u53ef\u4ee5\u5728\u98ce\u9669\u6709\u9650\u7684\u60c5\u51b5\u4e0b\u4ece\u4ea4\u6613\u4e2d\u83b7\u5f97\u6bcf\u5e74\u7ea6 10% \u7684\u6536\u76ca\u3002\u6211\u4f30\u8ba1\uff0c\u76ee\u524d\u6bd4\u7279\u5e01 ETP \u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\u4e2d\u7ea6\u6709 100 \u4ebf\u7f8e\u5143\u4e0e\u5957\u5229\u4ea4\u6613\u6709\u5173\u3002<\/p>\n<p>\u6211\u5e76\u4e0d\u8ba4\u4e3a\u4ee5\u592a\u574a\u4f1a\u6709\u540c\u6837\u60c5\u51b5\u3002\u4ee5\u592a\u574a ETP \u5957\u5229\u4ea4\u6613\u76ee\u524d\u5bf9\u673a\u6784\u6765\u8bf4\u5e76\u4e0d\u6709\u5229\u53ef\u56fe\uff08\u90e8\u5206\u539f\u56e0\u662f\u7f8e\u56fd\u4ee5\u592a\u574a ETP \u4e0d\u4f1a\u53c2\u4e0e\u8d44\u4ea7\u8d28\u62bc\uff09\u3002\u51fa\u4e8e\u8fd9\u4e2a\u539f\u56e0\uff0c\u6211\u4eec\u9700\u8981\u5728\u8bc4\u4f30\u6bd4\u7279\u5e01\u5e02\u573a\u89c4\u6a21\u65f6\u5254\u9664 100 \u4ebf\u7f8e\u5143\u7684\u5957\u5229\u4ea4\u6613\u76f8\u5173 AUM\u3002<\/p>\n<p>\u5982\u679c\u8fd9\u6837\u505a\uff0c\u6bd4\u7279\u5e01 ETP \u7684\u5206\u6bcd\u5c06\u964d\u81f3 900 \u4ebf\u7f8e\u5143\u7684 AUM\u3002\u6240\u4ee5\uff0c\u6211\u4eec\u4f30\u8ba1\u4ee5\u592a\u574a ETP \u7684\u8d44\u91d1\u51c0\u6d41\u5165\u91cf\u5c06\u5728 150-180 \u4ebf\u7f8e\u5143\u8303\u56f4\u3002<\/p>\n<p><strong>\u7ed3\u8bba<\/strong><\/p>\n<p>\u8fd9\u4e2a\u6a21\u578b\u8fd8\u6709\u5f88\u591a\u5730\u65b9\u53ef\u4ee5\u8c03\u6574\u3002<\/p>\n<p>\u4f8b\u5982\uff0c\u4f60\u53ef\u80fd\u4f1a\u8bf4\u4ee5\u592a\u574a ETP 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