{"id":2927,"date":"2026-08-06T22:59:38","date_gmt":"2026-08-06T14:59:38","guid":{"rendered":"https:\/\/www.yqcsfz.com\/?p=2927"},"modified":"2026-08-06T22:59:38","modified_gmt":"2026-08-06T14:59:38","slug":"bitwise%e9%a6%96%e5%b8%ad%e6%8a%95%e8%b5%84%e5%ae%98%ef%bc%9a%e9%95%bf%e5%a4%9c%e5%b7%b2%e8%87%b3%e6%b7%b1%e5%a4%84%ef%bc%8c%e5%8a%a0%e5%af%86%e5%b8%82%e5%9c%ba%e7%9a%84%e5%be%ae%e5%85%89%e5%b0%b1","status":"publish","type":"post","link":"https:\/\/www.zaixinjiang.com\/?p=2927","title":{"rendered":"Bitwise\u9996\u5e2d\u6295\u8d44\u5b98\uff1a\u957f\u591c\u5df2\u81f3\u6df1\u5904\uff0c\u52a0\u5bc6\u5e02\u573a\u7684\u5fae\u5149\u5c31\u5728\u773c\u524d &#8211;"},"content":{"rendered":"<p>\u539f\u6587\u6807\u9898\uff1aThe Depths of Crypto Winter<\/p><\/blockquote>\n<blockquote><p>\u539f\u6587\u4f5c\u8005\uff1aMatt Hougan\uff0cBitwise \u9996\u5e2d\u6295\u8d44\u5b98<\/p><\/blockquote>\n<blockquote><p>\u539f\u6587\u7f16\u8bd1\uff1aChopper\uff0cForesight News<\/p><\/blockquote>\n<p><strong>\u574f\u6d88\u606f\u662f<\/strong>\uff1a\u6211\u4eec\u4ece 2025 \u5e74 1 \u6708\u8d77\u5c31\u5df2\u8eab\u5904\u52a0\u5bc6\u5bd2\u51ac\u3002\u597d\u6d88\u606f\u662f\uff1a\u6211\u4eec\u8ddd\u79bb\u5bd2\u51ac\u7ed3\u675f\uff0c\u5927\u6982\u7387\u6bd4\u8ddd\u79bb\u5bd2\u51ac\u5f00\u59cb\u66f4\u8fd1\u3002<\/p>\n<p>\u6211\u60f3\u8bf4\u4e00\u4ef6\u663e\u800c\u6613\u89c1\u7684\u4e8b\uff0c\u56e0\u4e3a\u6211\u76f8\u4fe1\u5b83\u80fd\u5e2e\u4f60\u5728\u672a\u6765\u51e0\u4e2a\u6708\u91cc\u505a\u51fa\u6709\u5229\u7684\u51b3\u7b56\uff1a\u6211\u4eec\u6b63\u5904\u5728\u4e00\u573a\u5f7b\u5934\u5f7b\u5c3e\u7684\u52a0\u5bc6\u5bd2\u51ac\u4e4b\u4e2d\u3002<\/p>\n<p>\u6211\u53d1\u73b0\u7f51\u4e0a\u548c\u4e3b\u6d41\u5a92\u4f53\u91cc\u5f88\u5c11\u6709\u4eba\u8c08\u8bba\u8fd9\u4e00\u70b9\uff0c\u4f46\u8fd9\u662f\u4e0d\u5bb9\u7f6e\u7591\u7684\u4e8b\u5b9e\u3002\u6bd4\u7279\u5e01\u8f83 2025 \u5e74 10 \u6708\u7684\u5386\u53f2\u9ad8\u70b9\u4e0b\u8dcc\u4e86 39%\uff0c\u4ee5\u592a\u574a\u4e0b\u8dcc 53%\uff0c\u8bb8\u591a\u5176\u4ed6\u52a0\u5bc6\u8d44\u4ea7\u8dcc\u5e45\u66f4\u751a\u3002<\/p>\n<p>\u91cd\u8981\u7684\u662f\u8ba4\u6e05\u5b83\u7684\u672c\u8d28\u3002\u8fd9\u4e0d\u662f\u725b\u5e02\u56de\u8c03\uff0c\u4e5f\u4e0d\u662f\u4e00\u6b21\u4e0b\u63a2\u3002\u8fd9\u662f\u4e00\u573a\u5f7b\u5934\u5f7b\u5c3e\u3001\u582a\u6bd4 2022 \u5e74\u3001\u5982\u540c\u300a\u8352\u91ce\u730e\u4eba\u300b\u91cc\u83b1\u6602\u7eb3\u591a\u30fb\u8fea\u5361\u666e\u91cc\u5965\u6240\u7ecf\u5386\u7684\u90a3\u822c\u4e25\u9177\u7684\u5bd2\u51ac\uff0c\u8fd9\u573a\u5bd2\u51ac\u7684\u6210\u56e0\u4ece\u8fc7\u5ea6\u6760\u6746\uff0c\u5230\u65e9\u671f\u73a9\u5bb6\u5927\u89c4\u6a21\u83b7\u5229\u4e86\u7ed3\uff0c\u4e0d\u4e00\u800c\u8db3\u3002<\/p>\n<p>\u5bf9\u6211\u800c\u8a00\uff0c\u627f\u8ba4\u5e76\u63a5\u53d7\u8fd9\u4e00\u70b9\uff0c\u8ba9\u4e00\u5207\u53d8\u5f97\u65e0\u6bd4\u6e05\u6670\u3002<\/p>\n<p>\u4e3a\u4ec0\u4e48\u660e\u660e\u5728\u5e94\u7528\u843d\u5730\u3001\u76d1\u7ba1\u7b49\u9886\u57df\u4e0d\u65ad\u4f20\u6765\u5229\u597d\uff0c\u52a0\u5bc6\u4ef7\u683c\u5374\u5728\u4e0b\u8dcc\uff1f\u56e0\u4e3a\u6211\u4eec\u6b63\u5904\u5728\u52a0\u5bc6\u5bd2\u51ac\u7684\u6df1\u6c34\u533a\u3002\u4e3a\u4ec0\u4e48\u65b0\u4efb\u7f8e\u8054\u50a8\u4e3b\u5e2d\u662f\u6bd4\u7279\u5e01\u652f\u6301\u8005\uff0c\u800c\u52a0\u5bc6\u6050\u60e7\u4e0e\u8d2a\u5a6a\u6307\u6570\u5374\u5904\u5728\u5386\u53f2\u9ad8\u4f4d\u7684\u6050\u60e7\u533a\u95f4\uff1f\u56e0\u4e3a\u6211\u4eec\u6b63\u5904\u5728\u52a0\u5bc6\u5bd2\u51ac\u3002<\/p>\n<p>\u7ecf\u5386\u8fc7 2018 \u5e74\u6216 2022 \u5e74\u8fc7\u5f80\u5bd2\u51ac\u7684\u4eba\u4f1a\u8bb0\u5f97\uff0c\u5bd2\u51ac\u6df1\u5904\uff0c\u5229\u597d\u6d88\u606f\u6beb\u65e0\u610f\u4e49\u3002\u6211\u4eec\u4e0d\u4f1a\u56e0\u4e3a\u534e\u5c14\u8857\u5927\u4e3e\u62db\u4eba\u3001\u6469\u6839\u58eb\u4e39\u5229\u52a0\u7801\u52a0\u5bc6\u5c31\u8fce\u6765\u53cd\u5f39\u3002\u8fd9\u4e9b\u4e8b\u957f\u671f\u6765\u770b\u5f88\u91cd\u8981\uff0c\u4f46\u73b0\u5728\u4e0d\u91cd\u8981\u3002\u52a0\u5bc6\u5bd2\u51ac\u4e0d\u4f1a\u5728\u72c2\u70ed\u4e2d\u7ed3\u675f\uff0c\u53ea\u4f1a\u5728\u7b4b\u75b2\u529b\u5c3d\u65f6\u843d\u5e55\u3002<\/p>\n<p>\u90a3\u4e48\uff0c\u5bd2\u51ac\u4f55\u65f6\u624d\u4f1a\u7ed3\u675f\uff1f\u597d\u6d88\u606f\u662f\uff1a\u6211\u8ba4\u4e3a\u6211\u4eec\u5df2\u7ecf\u63a5\u8fd1\u7ec8\u70b9\u3002<\/p>\n<h1>\u52a0\u5bc6\u5bd2\u51ac\u7684\u5386\u53f2\u89c4\u5f8b<\/h1>\n<p>\u52a0\u5bc6\u5bd2\u51ac\u901a\u5e38\u6301\u7eed\u7ea6 13 \u4e2a\u6708\u3002\u4f8b\u5982\uff0c\u6bd4\u7279\u5e01 2017 \u5e74 12 \u6708\u89c1\u9876\uff0c2018 \u5e74 12 \u6708\u89e6\u5e95\uff1b2021 \u5e74 10 \u6708\u89c1\u9876\uff0c2022 \u5e74 11 \u6708\u89e6\u5e95\u3002<\/p>\n<p>\u6309\u8fd9\u4e2a\u5468\u671f\u63a8\u7b97\uff0c\u6211\u4eec\u8fd8\u8981\u7ecf\u5386\u4e00\u6bb5\u8270\u96be\u65f6\u671f\u3002\u6bd5\u7adf\uff0c\u6bd4\u7279\u5e01\u662f 2025 \u5e74 10 \u6708\u89c1\u9876\u7684\uff0c\u96be\u9053\u6211\u4eec\u8981\u7b49\u5230 2026 \u5e74 11 \u6708\u5417\uff1f\u6211\u4e0d\u8fd9\u4e48\u8ba4\u4e3a\u3002<\/p>\n<p>\u5728\u5bf9\u5f53\u524d\u5bd2\u51ac\u505a\u4e86\u66f4\u591a\u5206\u6790\u540e\uff0c\u6211\u8d8a\u53d1\u610f\u8bc6\u5230\uff0c\u5b83\u5176\u5b9e\u4ece 2025 \u5e74 1 \u6708\u5c31\u5f00\u59cb\u4e86\u3002\u6211\u4eec\u4e4b\u6240\u4ee5\u770b\u4e0d\u89c1\uff0c\u662f\u56e0\u4e3a ETF \u548c\u52a0\u5bc6\u8d22\u5e93\u516c\u53f8\uff08DAT\uff09\u7684\u8d44\u91d1\u6d41\u5165\u63a9\u76d6\u4e86\u771f\u76f8\u3002<\/p>\n<h1>ETF \u4e0e DAT \u8d44\u91d1\u6d41\uff0c\u63a9\u76d6\u4e86 2025 \u5e74\u7684\u5bd2\u51ac<\/h1>\n<p>\u4ed4\u7ec6\u770b\u8fd9\u5f20 Bitwise 10 \u5927\u76d8\u52a0\u5bc6\u6307\u6570\u6210\u5206\u80a1\u81ea 2025 \u5e74 1 \u6708 1 \u65e5\u4ee5\u6765\u7684\u8868\u73b0\u56fe\u3002<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/static.aicoin.com\/attachment\/article\/20260203\/177011013490492.jpg\"  data-href=\"\" title=\"Bitwise\u9996\u5e2d\u6295\u8d44\u5b98\uff1a\u957f\u591c\u5df2\u81f3\u6df1\u5904\uff0c\u52a0\u5bc6\u5e02\u573a\u7684\u5fae\u5149\u5c31\u5728\u773c\u524d &#8211;\u63d2\u56fe\" alt=\"Bitwise\u9996\u5e2d\u6295\u8d44\u5b98\uff1a\u957f\u591c\u5df2\u81f3\u6df1\u5904\uff0c\u52a0\u5bc6\u5e02\u573a\u7684\u5fae\u5149\u5c31\u5728\u773c\u524d &#8211;\u63d2\u56fe\" \/><\/p>\n<blockquote style=\"text-align: center\"><p>2025 \u5e74\u81f3\u4eca\uff0cBitwise 10 \u5927\u76d8\u52a0\u5bc6\u6307\u6570\u6210\u5206\u80a1\u6536\u76ca\u3002\u6570\u636e\u6765\u6e90\uff1aBitwise Asset Management<\/p><\/blockquote>\n<p>\u5b83\u4eec\u6e05\u6670\u5730\u5206\u4e3a\u4e09\u7c7b\uff1a<\/p>\n<p>\u00b7 \u7b2c\u4e00\u7c7b\u8d44\u4ea7\uff08BTC\u3001ETH\u3001XRP\uff09\u8868\u73b0\u5c1a\u53ef\uff0c\u4e0b\u8dcc 10.3% \u81f3 19.9%<\/p>\n<p>\u00b7 \u7b2c\u4e8c\u7c7b\u8d44\u4ea7\uff08SOL\u3001LTC\u3001LINK\uff09\u7ecf\u5386\u4e86\u6807\u51c6\u718a\u5e02\uff0c\u4e0b\u8dcc 36.9% \u81f3 46.2%<\/p>\n<p>\u00b7 \u7b2c\u4e09\u7c7b\u8d44\u4ea7\uff08ADA\u3001AVAX\u3001SUI\u3001DOT\uff09\u60e8\u906d\u8840\u6d17\uff0c\u4e0b\u8dcc 61.9% \u81f3 74.7%<\/p>\n<p>\u8fd9\u4e09\u7c7b\u8d44\u4ea7\u7684\u6838\u5fc3\u533a\u522b\uff0c\u57fa\u672c\u5c31\u5728\u4e8e\u673a\u6784\u662f\u5426\u6709\u6e20\u9053\u6295\u8d44\u5b83\u4eec\u3002\u7b2c\u4e00\u7c7b\u8d44\u4ea7\u5168\u5e74\u83b7\u5f97 ETF\/DAT \u7684\u5de8\u91cf\u8d44\u91d1\u652f\u6491\uff1b\u7b2c\u4e8c\u7c7b\u8d44\u4ea7\u5728 2025 \u5e74\u83b7\u6279\u4e86 ETF\uff1b\u7b2c\u4e09\u7c7b\u8d44\u4ea7\u5219\u59cb\u7ec8\u6ca1\u6709\u3002\uff08\u6ce8\uff1aXRP \u662f\u4e2a\u4f8b\u5916\uff0c\u5b83\u5728 2025 \u5e74\u521d\u5e76\u6ca1\u6709 ETF\uff0c\u5374\u8868\u73b0\u826f\u597d\u3002\u539f\u56e0\u53ef\u80fd\u662f XRP \u5728 2025 \u5e74\u521d\u9762\u4e34\u7f8e\u56fd SEC \u7684\u751f\u6b7b\u8bc9\u8bbc\uff0c\u8be5\u6848\u5728 2025 \u5e74\u521d\u64a4\u8bc9\uff0c\u8d44\u4ea7\u56e0\u6b64\u5927\u5e45\u53cd\u5f39\u3002\uff09<\/p>\n<p>\u673a\u6784\u8d44\u91d1\u7684\u652f\u6491\u89c4\u6a21\u5341\u5206\u60ca\u4eba\u3002\u4f8b\u5982\uff0c\u56fe\u8868\u6240\u793a\u671f\u95f4\uff0cETF \u548c DAT \u7d2f\u8ba1\u4e70\u5165 744,417 \u679a\u6bd4\u7279\u5e01\uff0c\u4ef7\u503c\u7ea6 750 \u4ebf\u7f8e\u5143\u3002\u8bd5\u60f3\u4e00\u4e0b\uff0c\u5982\u679c\u6ca1\u6709\u8fd9 750 \u4ebf\u7f8e\u5143\u7684\u6258\u5e95\uff0c\u6bd4\u7279\u5e01\u4f1a\u8dcc\u5230\u54ea\u91cc\uff1f\u6211\u731c\u4f1a\u8dcc\u53bb\u7ea6 60%\u3002<\/p>\n<p>\u6563\u6237\u5e02\u573a\u81ea 2025 \u5e74 1 \u6708\u8d77\u5c31\u5df2\u9677\u5165\u6b8b\u9177\u5bd2\u51ac\u3002\u53ea\u662f\u673a\u6784\u8d44\u91d1\uff0c\u4e00\u5ea6\u4e3a\u90e8\u5206\u8d44\u4ea7\u63a9\u76d6\u4e86\u8fd9\u4e2a\u4e8b\u5b9e\u3002<\/p>\n<h1>\u9ece\u660e\u4e4b\u524d\uff0c\u603b\u662f\u6700\u9ed1\u6697<\/h1>\n<p>\u6b64\u523b\u9700\u8981\u8bb0\u4f4f\u7684\u662f\uff0c\u52a0\u5bc6\u9886\u57df\u5176\u5b9e\u6709\u5927\u91cf\u5b9e\u5b9e\u5728\u5728\u7684\u5229\u597d\u3002\u76d1\u7ba1\u8fdb\u5c55\u662f\u771f\u5b9e\u7684\uff0c\u673a\u6784\u91c7\u7528\u662f\u771f\u5b9e\u7684\uff0c\u7a33\u5b9a\u5e01\u4e0e\u8d44\u4ea7\u4ee3\u5e01\u5316\u662f\u771f\u5b9e\u7684\uff0c\u534e\u5c14\u8857\u7684\u62e5\u62b1\u4e5f\u662f\u771f\u5b9e\u7684\u3002<\/p>\n<p>\u718a\u5e02\u91cc\uff0c\u5229\u597d\u4f1a\u88ab\u65e0\u89c6\uff0c\u4f46\u4e0d\u4f1a\u6d88\u5931\u3002\u5b83\u4eec\u4f1a\u4ee5\u52bf\u80fd\u7684\u5f62\u5f0f\u88ab\u50a8\u5b58\u8d77\u6765\u3002\u4e00\u65e6\u4e4c\u4e91\u6563\u53bb\u3001\u5e02\u573a\u60c5\u7eea\u56de\u5f52\u6b63\u5e38\uff0c\u8fd9\u4e9b\u79ef\u84c4\u7684\u52bf\u80fd\u5c31\u4f1a\u4ee5\u62a5\u590d\u6027\u7684\u65b9\u5f0f\u91ca\u653e\u3002\u4ec0\u4e48\u80fd\u9a71\u6563\u4e4c\u4e91\uff1f\u5f3a\u52b2\u7684\u7ecf\u6d4e\u589e\u957f\u5f15\u53d1\u98ce\u9669\u8d44\u4ea7\u5168\u9762\u53cd\u5f39\u3001\u300aClarity \u6cd5\u6848\u300b\u4f20\u6765\u79ef\u6781\u4fe1\u53f7\u3001\u4e3b\u6743\u56fd\u5bb6\u91c7\u7528\u6bd4\u7279\u5e01\u7684\u8ff9\u8c61\uff0c\u6216\u8005\u4ec5\u4ec5\u662f\u65f6\u95f4\u7684\u63a8\u79fb\u3002<\/p>\n<p>\u4f5c\u4e3a\u7ecf\u5386\u8fc7\u591a\u8f6e\u52a0\u5bc6\u5bd2\u51ac\u7684\u8001\u5175\uff0c\u6211\u53ef\u4ee5\u544a\u8bc9\u4f60\uff0c\u5bd2\u51ac\u7ed3\u675f\u524d\u7684\u611f\u89c9\uff0c\u548c\u73b0\u5728\u975e\u5e38\u50cf\uff1a\u7edd\u671b\u3001\u65e0\u52a9\u3001\u4f4e\u8ff7\u3002\u4f46\u5f53\u524d\u7684\u5e02\u573a\u56de\u64a4\uff0c\u4e1d\u6beb\u6ca1\u6709\u6539\u53d8\u52a0\u5bc6\u5e02\u573a\u7684\u57fa\u672c\u9762\u3002<\/p>\n<p>\u6211\u8ba4\u4e3a\u6211\u4eec\u4f1a\u66f4\u5feb\u3001\u66f4\u731b\u70c8\u5730\u53cd\u5f39\u3002\u6bd5\u7adf\uff0c\u5bd2\u51ac\u4ece 2025 \u5e74 1 \u6708\u5c31\u5f00\u59cb\u4e86\u3002\u6625\u5929\uff0c\u80af\u5b9a\u4e0d\u8fdc\u4e86\u3002<\/p>\n<p>\u539f\u6587\u94fe\u63a5 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u539f\u6587\u6807\u9898\uff1aThe Depths of Crypto Winter \u539f\u6587\u4f5c\u8005\uff1aMatt Hougan\uff0cBitwi [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2928,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=\/wp\/v2\/posts\/2927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2927"}],"version-history":[{"count":1,"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=\/wp\/v2\/posts\/2927\/revisions"}],"predecessor-version":[{"id":8081,"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=\/wp\/v2\/posts\/2927\/revisions\/8081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=\/wp\/v2\/media\/2928"}],"wp:attachment":[{"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zaixinjiang.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}