thiigth | blockfit

贝莱德昨天推出新的投资产品ETHB，这是美国历史上第一个现货ETH质押ETF，已经在纳斯达克上市了。 ETHB是什么？ 简单来说，它不再是普通的以太坊ETF（比如ETHA）。普通的以太坊ETF只能跟着以太坊价格走。 而购买ETHB，不仅能跟着ETH价格涨跌，还可以赚额外的Staking奖励。 年化大概3-4%，取决于网络质押的情况。 对于多数用户来说，不是DeFi原生用户，也不清楚如何通过第三方参与ETH的质押；也不会亲自跑节点、不用担心罚没风险，也不用管理加密钱包等。这些都由贝莱德和Coinbase处理。 这样会吸引很多对ETH看好的投资者，极大降低了参与门槛。 ETHB推出，对ETH是利好还是不利？ 先说结论： 整体来说，中长期是超级利好。 不过，短期内会有波动。 为什么长期是利好？ 最重要的一点是， ETHB推出，将ETH变成真正的“有息资产”。 之前的ETH ETF（比如 $ETHA）只有价格跟踪，没额外收益。 机构（养老基金、大学捐赠基金）嫌 ETH “没分红”，宁愿买美债。现在 $ETHB 直接给你staking 收益（年化大概 3-4%，扣费后投资者拿 82% 左右），相当于 ETH 多了个“股息”。 这让 ETH 能跟债券抢钱，机构买的理由更充分了。 其次，贝莱德会把基金的70-95%拿去质押。这些ETH锁在链上，不能随时卖出。长期看，会减少流通供给。 越多人买 ETHB，ETH 越少在市场上飘。 随着ETHB的推出，ETH定价权越来越向华尔街（贝莱德/富达等）集中，机构买盘更可控，波动幅度相对小些。 现在贝莱德为了吸引客户，将第一年的费率降低到 0.12%（后面 0.25%），开始在抢占市场。而其他巨头，如Fidelity、Invesco等大概率也会跟进，竞争会把更多钱拉进来。 刚刚上线第一天，AUM开局1.06亿，交易量也不错。算是开了一个好头，但不要奢望，短期内能把ETH拉起来。

TOM LEE SAYS ETHEREUM WILL GET TO $62,000

川普一边强制要求鲍威尔降息，一边做着完全是促进通胀的行为，有没有觉得他们两个就是在演双簧戏而已。因为鲍威尔不需要为选民负责，所以川普可以把所有的责任都推给鲍威尔，而两个人的配合就是为了让高利率继续下去，那为什么要这样做呢？就是为了美元，所有的其他行动都是为了美元服务的。

Prior administration's SEC (both under Biden and under Trump before) destroyed tens (arguably hundreds) of billions of dollars in value, punishing consenting adults for making their own financial decisions, in what is allegedly a free country that allegedly permits and encourages entrepreneurship, risk taking, and individual responsibility. The consequence of Gensler's SEC was, most obviously, a substantial reduction in entrepreneurs' willingness to attempt token designs of authentic utility. The flourishing of utility tokens post EVM (2016-2018) came to an end under fear of persecution. In its place, an era of memecoins and even greater scams that went entirely unprosecuted until post-collapse, like FTX. "If you try to build something of utility, we will ruin your life. If you make dog meme, no prob. If you steal $10b in customer money outright, we'll ask you for input on upcoming bills in DC so long as you donate some of it to our campaigns." The current SEC is materially better. Today's guidance is good, not because it is "clear" (ambiguous liberty is superior to clearly defined oppression), but because it recognizes limits on its own power; because the scope of tyranny over an allegedly free people is lessened. Importantly, what's new here is correct exclusions from security-definition of both "Digital Collectibles" and "Digital Tools". The latter aka utility tokens, so often persecuted under Gensler's regime. Digital Collectibles and Digital Tools are each massive categories. Huge, open territory for innovators to once again explore. To the current SEC, thank you for improving toward the ideals of what makes America good. I encourage anyone who was persecuted by the prior agency to post anything you feel comfortable sharing in the comments.