{"id":3508,"date":"2026-10-02T07:41:51","date_gmt":"2026-10-01T23:41:51","guid":{"rendered":"https:\/\/www.yqcsfz.com\/?p=3508"},"modified":"2026-10-02T07:41:51","modified_gmt":"2026-10-01T23:41:51","slug":"%e5%9b%9b%e5%b9%b4%e5%91%a8%e6%9c%9f%e5%a4%b1%e6%95%88%ef%bc%8c30%e5%ae%b6%e6%9c%ba%e6%9e%84%e6%8a%bc%e6%b3%a82026%e5%8a%a0%e5%af%86%e6%96%b0%e6%a0%bc%e5%b1%80","status":"publish","type":"post","link":"https:\/\/www.zaixinjiang.com\/?p=3508","title":{"rendered":"\u56db\u5e74\u5468\u671f\u5931\u6548\uff0c30\u5bb6\u673a\u6784\u62bc\u6ce82026\u52a0\u5bc6\u65b0\u683c\u5c40 –"},"content":{"rendered":"

\u4f5c\u8005\uff1aCathy<\/strong><\/p>\n

2025\u5e74\u7684\u5c3e\u58f0\uff0c\u5168\u7403\u9876\u7ea7\u91d1\u878d\u673a\u6784\u7f55\u89c1\u5730\u53d1\u51fa\u4e86\u4e00\u79cd\u9ad8\u5ea6\u4e00\u81f4\u7684\u58f0\u97f3\u3002<\/p>\n

\u4ecea16z\u3001Coinbase\u3001Messari\u5230Grayscale\u3001Galaxy Digital\uff0c\u4eceBlackRock\u3001Fidelity\u5230J.P. Morgan\u3001\u6e23\u6253\u94f6\u884c\uff0c\u8d85\u8fc730\u5bb6\u673a\u6784\u5728\u5404\u81ea\u76842026\u5e74\u5c55\u671b\u62a5\u544a\u4e2d\uff0c\u4e0d\u7ea6\u800c\u540c\u5730\u6307\u5411\u540c\u4e00\u4e2a\u5224\u65ad\uff1a\u52a0\u5bc6\u8d44\u4ea7\u884c\u4e1a\u6b63\u5728\u7ecf\u5386\u4e00\u573a\u4ece“\u9752\u6625\u671f\u7684\u8e81\u52a8”\u5411“\u6210\u5e74\u671f\u7684\u7a33\u91cd”\u7684\u5386\u53f2\u6027\u8de8\u8d8a\u3002<\/p>\n

\u5982\u679c\u8bf42021-2022\u5e74\u7684\u5468\u671f\u662f\u7531\u6563\u6237\u6295\u673a\u3001\u9ad8\u6760\u6746\u548c\u53d9\u4e8b\u6ce1\u6cab\u9a71\u52a8\u7684\uff0c\u90a3\u4e48\u673a\u6784\u666e\u904d\u8ba4\u4e3a2026\u5e74\u5c06\u662f\u7531\u76d1\u7ba1\u6e05\u6670\u5ea6\u3001\u5b8f\u89c2\u5bf9\u51b2\u9700\u6c42\u4ee5\u53ca\u6280\u672f\u6548\u7528\u843d\u5730\u5171\u540c\u6784\u5efa\u7684\u5b9e\u8d28\u6027\u589e\u957f\u5e74\u3002\u8fd9\u4e2a\u9636\u6bb5\u6709\u4e00\u4e2a\u4e13\u4e1a\u7684\u540d\u5b57——“\u5de5\u4e1a\u5316\u9636\u6bb5”\u3002<\/p>\n

\u7136\u800c\uff0c\u5171\u8bc6\u4e4b\u4e0b\u4e5f\u6697\u85cf\u5206\u6b67\u3002\u5173\u4e8e\u6bd4\u7279\u5e01\u6ce2\u52a8\u7387\u662f\u5426\u4f1a\u4f4e\u4e8e\u82f1\u4f1f\u8fbe\uff0c\u5173\u4e8e\u91cf\u5b50\u8ba1\u7b97\u5a01\u80c1\u662f\u5426\u8feb\u5728\u7709\u776b\uff0c\u5173\u4e8e\u8c01\u5c06\u8d62\u5f97AI\u652f\u4ed8\u5c42\u7684\u6218\u4e89\uff0c\u9876\u7ea7\u673a\u6784\u4e4b\u95f4\u7684\u4e89\u950b\u540c\u6837\u6fc0\u70c8\u3002<\/p>\n

\u90a3\u4e48\uff0c2026\u5e74\u7a76\u7adf\u4f1a\u53d1\u751f\u4ec0\u4e48\uff1f\u94b1\u4f1a\u6d41\u5411\u54ea\u91cc\uff1f\u666e\u901a\u6295\u8d44\u8005\u53c8\u8be5\u5982\u4f55\u5e94\u5bf9\uff1f<\/p>\n

\u544a\u522b\u51cf\u534a\u795e\u8bdd\uff0cETF\u91cd\u5851\u6e38\u620f\u89c4\u5219<\/h3>\n

\u957f\u671f\u4ee5\u6765\uff0c\u52a0\u5bc6\u5e02\u573a\u7684\u8109\u640f\u4e00\u76f4\u968f\u7740\u6bd4\u7279\u5e01\u6bcf\u56db\u5e74\u7684\u51cf\u534a\u8282\u594f\u8df3\u52a8\u3002\u4f46\u57282026\u5e74\u7684\u5c55\u671b\u4e2d\uff0c\u4e00\u4e2a\u98a0\u8986\u6027\u7684\u89c2\u70b9\u6b63\u5728\u5f62\u6210\uff1a\u4f20\u7edf\u7684\u56db\u5e74\u5468\u671f\u7406\u8bba\u53ef\u80fd\u5df2\u7ecf\u5931\u6548\u3002<\/p>\n

Grayscale \uff08\u7070\u5ea6\uff09\u5728\u5176\u300c2026\u6570\u5b57\u8d44\u4ea7\u5c55\u671b\uff1a\u673a\u6784\u65f6\u4ee3\u7684\u9ece\u660e\u300d\u62a5\u544a\u4e2d\uff0c\u63d0\u51fa\u4e86\u4e00\u4e2a\u6781\u5177\u6311\u8845\u6027\u7684\u89c2\u70b9\uff1a2026\u5e74\u5c06\u6b63\u5f0f\u6807\u5fd7\u7740\u6240\u8c13“\u56db\u5e74\u5468\u671f”\u7406\u8bba\u7684\u7ec8\u7ed3\u3002\u968f\u7740\u73b0\u8d27ETF\u7684\u666e\u53ca\u4ee5\u53ca\u5408\u89c4\u6846\u67b6\u7684\u5b8c\u5584\uff0c\u5e02\u573a\u53c2\u4e0e\u8005\u7684\u7ed3\u6784\u53d1\u751f\u4e86\u6839\u672c\u6027\u53d8\u5316\u3002\u8fc7\u53bb\u7531\u6563\u6237\u60c5\u7eea\u548c\u51cf\u534a\u53d9\u4e8b\u4e3b\u5bfc\u7684\u5267\u70c8\u7e41\u8363\u4e0e\u8427\u6761\u5468\u671f\uff0c\u6b63\u5728\u88ab\u673a\u6784\u6295\u8d44\u8005\u57fa\u4e8e\u8d44\u4ea7\u914d\u7f6e\u6a21\u578b\u7684\u7cfb\u7edf\u6027\u8d44\u91d1\u6d41\u52a8\u6240\u53d6\u4ee3\u3002<\/p>\n

\u8fd9\u79cd\u6301\u7eed\u7684\u3001\u975e\u60c5\u7eea\u5316\u7684\u8d44\u91d1\u6d41\u5165\u5c06\u71a8\u5e73\u5e02\u573a\u7684\u6781\u7aef\u6ce2\u52a8\uff0c\u4f7f\u52a0\u5bc6\u8d44\u4ea7\u7684\u8868\u73b0\u66f4\u63a5\u8fd1\u4e8e\u6210\u719f\u7684\u5b8f\u89c2\u8d44\u4ea7\u3002<\/p>\n

Coinbase\u5219\u63d0\u51fa\u4e86\u4e00\u4e2a\u7cbe\u5f69\u7684\u5386\u53f2\u7c7b\u6bd4\uff1a\u5f53\u524d\u7684\u5e02\u573a\u73af\u5883\u66f4\u50cf“1996\u5e74”\u800c\u975e“1999\u5e74”\u30021996\u5e74\u662f\u4e92\u8054\u7f51\u6280\u672f\u5f00\u59cb\u771f\u6b63\u6e17\u900f\u5546\u4e1a\u5e76\u5e26\u6765\u751f\u4ea7\u529b\u63d0\u5347\u7684\u65e9\u671f\u9636\u6bb5\uff0c\u800c\u975e\u6ce1\u6cab\u7834\u88c2\u7684\u524d\u591c\u3002\u673a\u6784\u8d44\u91d1\u4e0d\u518d\u662f\u96c7\u4f63\u5175\u5f0f\u7684\u77ed\u671f\u5957\u5229\uff0c\u800c\u662f\u4f5c\u4e3a\u5bf9\u51b2\u8d22\u653f\u8d64\u5b57\u548c\u8d27\u5e01\u8d2c\u503c\u7684\u957f\u671f\u914d\u7f6e\u8fdb\u5165\u5e02\u573a\u3002<\/p>\n

\u66f4\u6709\u610f\u601d\u7684\u662f\uff0cGalaxy Digital\u7684\u7814\u7a76\u4e3b\u7ba1Alex Thorn\u76f4\u8a00\uff0c2026\u5e74\u53ef\u80fd\u5bf9\u6bd4\u7279\u5e01\u6765\u8bf4\u662f“\u65e0\u804a\u7684\u4e00\u5e74”\uff08A boring year\uff09\u3002\u867d\u7136\u6bd4\u7279\u5e01\u4ecd\u6709\u53ef\u80fd\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\uff0c\u4f46\u5176\u4ef7\u683c\u884c\u4e3a\u5c06\u66f4\u50cf\u9ec4\u91d1\u7b49\u6210\u719f\u5b8f\u89c2\u8d44\u4ea7\u3002<\/p>\n

\u8fd9\u79cd“\u65e0\u804a”\u5b9e\u9645\u4e0a\u662f\u8d44\u4ea7\u6210\u719f\u7684\u6807\u5fd7\uff0c\u610f\u5473\u7740\u4e0b\u884c\u98ce\u9669\u7684\u964d\u4f4e\u548c\u66f4\u5e7f\u6cdb\u7684\u673a\u6784\u63a5\u53d7\u5ea6\u3002Bitwise\u540c\u6837\u5217\u51fa\u4e86“\u6bd4\u7279\u5e01\u6ce2\u52a8\u7387\u5c06\u4f4e\u4e8e\u82f1\u4f1f\u8fbe”\u4f5c\u4e3a\u51762026\u5e74\u5341\u5927\u9884\u6d4b\u4e4b\u4e00\u3002<\/p>\n

\u8bd5\u56fe\u5229\u7528\u5386\u53f2\u51cf\u534a\u6570\u636e\u523b\u821f\u6c42\u5251\u7684\u6295\u8d44\u8005\uff0c\u53ef\u80fd\u4f1a\u57282026\u5e74\u9762\u4e34\u5931\u6548\u7684\u6a21\u578b\u3002<\/p>\n

\u7a33\u5b9a\u5e01\u4e0eRWA\uff0c2026\u5e74\u7684\u786e\u5b9a\u6027\u673a\u4f1a<\/h3>\n

\u5982\u679c\u8bf4\u5b8f\u89c2\u53d9\u4e8b\u5960\u5b9a\u4e86\u8d44\u91d1\u6d41\u5165\u7684\u57fa\u7840\uff0c\u90a3\u4e48\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u7684\u5347\u7ea7\u5219\u51b3\u5b9a\u4e86\u8d44\u91d1\u7684\u6d41\u5411\u30022026\u5e74\u88ab\u5404\u5927\u673a\u6784\u89c6\u4e3a\u7a33\u5b9a\u5e01\u548cRWA\uff08\u73b0\u5b9e\u4e16\u754c\u8d44\u4ea7\uff09\u4ece\u6982\u5ff5\u9a8c\u8bc1\u8d70\u5411\u89c4\u6a21\u5316\u5546\u7528\u7684\u5143\u5e74\u3002<\/p>\n

\u7a33\u5b9a\u5e01\u7684\u7206\u53d1\u5f0f\u589e\u957f<\/strong><\/p>\n

a16z crypto\u5728\u5176\u300c2026\u5e74\u4e3b\u8981\u8d8b\u52bf\u300d\u4e2d\uff0c\u5c06\u7a33\u5b9a\u5e01\u5b9a\u4e49\u4e3a\u672a\u6765\u7684”\u4e92\u8054\u7f51\u57fa\u7840\u7ed3\u7b97\u5c42”\uff08The internet’s base settlement layer\uff09\u3002\u4ed6\u4eec\u8ba4\u4e3a\uff0c\u7a33\u5b9a\u5e01\u5c06\u5f7b\u5e95\u8d85\u8d8a\u4ec5\u4ec5\u4f5c\u4e3a\u4ea4\u6613\u5e73\u53f0\u4ea4\u6613\u5bf9\u7684\u4e2d\u4ecb\u89d2\u8272\uff0c\u901a\u8fc7QR\u7801\u3001\u5168\u7403\u94b1\u5305\u548c\u5361\u7247\u96c6\u6210\uff0c\u76f4\u63a5\u5d4c\u5165\u5230\u672c\u5730\u652f\u4ed8\u7f51\u7edc\u548c\u5546\u5bb6\u5de5\u5177\u4e2d\u3002<\/p>\n

\u6570\u636e\u4ee4\u4eba\u9707\u64bc\uff1a2025\u5e74\u7a33\u5b9a\u5e01\u7684\u4ea4\u6613\u91cf\u5df2\u8fbe\u52309\u4e07\u4ebf\u7f8e\u5143\uff0c\u89c4\u6a21\u6bd4\u80a9Visa\u548cPayPal.<\/p>\n

Coinbase\u7684\u9884\u6d4b\u66f4\u4e3a\u6fc0\u8fdb\u3002\u4ed6\u4eec\u901a\u8fc7\u968f\u673a\u6a21\u578b\u6d4b\u7b97\uff0c\u8ba4\u4e3a\u52302028\u5e74\u5e95\uff0c\u7a33\u5b9a\u5e01\u7684\u603b\u5e02\u503c\u53ef\u80fd\u8fbe\u52301.2\u4e07\u4ebf\u7f8e\u5143\uff0c\u800c2026\u5e74\u5c06\u662f\u8fd9\u4e00\u589e\u957f\u66f2\u7ebf\u6700\u9661\u5ced\u7684\u9636\u6bb5\u3002Coinbase\u7279\u522b\u5f3a\u8c03\u4e86\u7a33\u5b9a\u5e01\u5728\u8de8\u5883\u4ea4\u6613\u7ed3\u7b97\u3001\u6c47\u6b3e\u548c\u85aa\u8d44\u652f\u4ed8\u5e73\u53f0\u4e2d\u7684\u65b0\u7528\u4f8b\u3002<\/p>\n

The Block\u5728\u5176\u300c2026\u5e74\u6570\u5b57\u8d44\u4ea7\u5c55\u671b\u62a5\u544a\u300d\u4e2d\u63d0\u51fa\u4e86“\u7a33\u5b9a\u94fe”\uff08Stablechains\uff09\u7684\u6982\u5ff5\u3002\u4e3a\u4e86\u6ee1\u8db3\u5546\u4e1a\u652f\u4ed8\u5bf9\u9ad8\u541e\u5410\u91cf\u548c\u4f4e\u5ef6\u8fdf\u7684\u6781\u81f4\u9700\u6c42\uff0c\u5e02\u573a\u5c06\u6d8c\u73b0\u51fa\u4e13\u95e8\u4e3a\u7a33\u5b9a\u5e01\u6267\u884c\u548c\u7ed3\u7b97\u800c\u4f18\u5316\u7684\u4e13\u7528\u533a\u5757\u94fe\u7f51\u7edc\u3002<\/p>\n

Galaxy Digital\u5219\u9884\u6d4b\u4e86\u5e02\u573a\u7684\u6574\u5408\u3002\u5c3d\u7ba1\u9ad8\u76db\u3001\u82b1\u65d7\u7b49\u4f20\u7edf\u94f6\u884c\u5de8\u5934\u6b63\u5728\u63a2\u7d22\u53d1\u884c\u81ea\u5df1\u7684\u7a33\u5b9a\u5e01\uff0c\u4f46\u7531\u4e8e\u5206\u53d1\u6e20\u9053\u548c\u6d41\u52a8\u6027\u7f51\u7edc\u6548\u5e94\uff0c2026\u5e74\u7684\u7a33\u5b9a\u5e01\u5e02\u573a\u5c06\u6574\u5408\u4e3a\u4e00\u5230\u4e24\u4e2a\u5177\u6709\u7edd\u5bf9\u7edf\u6cbb\u529b\u7684\u5de8\u5934\u3002\u6b64\u5916\uff0cGalaxy\u8fd8\u5927\u80c6\u9884\u6d4b\uff0c\u7a33\u5b9a\u5e01\u7684\u4ea4\u6613\u91cf\u5c06\u6b63\u5f0f\u8d85\u8d8a\u7f8e\u56fd\u4f20\u7edf\u7684ACH\uff08\u81ea\u52a8\u6e05\u7b97\u4e2d\u5fc3\uff09\u7cfb\u7edf\u3002<\/p>\n

RWA\u7684\u5343\u500d\u589e\u957f<\/strong><\/p>\n

\u7070\u5ea6\u9884\u6d4b\uff0c\u53d7\u76d1\u7ba1\u548c\u673a\u6784\u9a71\u52a8\uff0c\u52302030\u5e74Token\u5316\u8d44\u4ea7\u89c4\u6a21\u5c06\u67091000X\u589e\u957f\u3002<\/p>\n

Coinbase\u63d0\u51fa\u4e86“Token\u53162.0”\u7684\u6982\u5ff5\uff0c\u6838\u5fc3\u5728\u4e8e“\u539f\u5b50\u7ea7\u53ef\u7ec4\u5408\u6027”\u3002\u57282026\u5e74\uff0c\u4ec5\u4ec5\u5c06\u56fd\u503aToken\u5316\u662f\u4e0d\u591f\u7684\uff0c\u771f\u6b63\u7684\u4ef7\u503c\u5728\u4e8e\u8fd9\u4e9bToken\u5316\u7684\u56fd\u503a\u53ef\u4ee5\u5728DeFi\u534f\u8bae\u4e2d\u77ac\u95f4\u4f5c\u4e3a\u62b5\u62bc\u54c1\u501f\u51fa\u6d41\u52a8\u6027\uff0c\u5176\u501f\u4ee3\u4ef7\u503c\u6bd4\u5c06\u8fdc\u8d85\u4f20\u7edf\u91d1\u878d\u7684\u4fdd\u8bc1\u91d1\u6846\u67b6\u3002<\/p>\n

Pantera Capital\u7684\u521d\u7ea7\u5408\u4f19\u4ebaJay Yu\u9884\u6d4b\uff0cToken\u5316\u9ec4\u91d1\u5c06\u57282026\u5e74\u5d1b\u8d77\uff0c\u6210\u4e3aRWA\u9886\u57df\u7684\u4e3b\u5bfc\u8d44\u4ea7\u3002\u968f\u7740\u6295\u8d44\u8005\u5bf9\u7f8e\u5143\u7ed3\u6784\u6027\u95ee\u9898\u7684\u62c5\u5fe7\u52a0\u5267\uff0c\u94fe\u4e0a\u9ec4\u91d1\u4f5c\u4e3a\u4e00\u79cd\u65e2\u5177\u5907\u5b9e\u7269\u5c5e\u6027\u53c8\u5177\u5907\u6570\u5b57\u6d41\u52a8\u6027\u7684\u8d44\u4ea7\uff0c\u5c06\u8fce\u6765\u7206\u53d1\u5f0f\u589e\u957f\u3002<\/p>\n

\u5f53AI\u4ee3\u7406\u5b66\u4f1a\u82b1\u94b1<\/h3>\n

2026\u5e74\uff0c\u4eba\u5de5\u667a\u80fd\uff08AI\uff09\u4e0e\u533a\u5757\u94fe\u7684\u7ed3\u5408\u5c06\u4e0d\u518d\u505c\u7559\u5728“AI\u6982\u5ff5\u5e01”\u7684\u7092\u4f5c\u5c42\u9762\uff0c\u800c\u662f\u8fdb\u5165\u6df1\u5c42\u7684\u57fa\u7840\u8bbe\u65bd\u4e92\u64cd\u4f5c\u9636\u6bb5\u3002\u673a\u6784\u4eec\u4e00\u81f4\u8ba4\u4e3a\uff0c\u533a\u5757\u94fe\u5c06\u6210\u4e3aAI\u4ee3\u7406\uff08AI Agents\uff09\u7684\u91d1\u878d\u8f68\u9053\u3002<\/p>\n

a16z crypto\u5c06“\u4ee3\u7406\u4eba\u7ecf\u6d4e”\u89c6\u4e3a2026\u5e74\u7684\u6838\u5fc3\u5927\u601d\u60f3\u3002\u4ed6\u4eec\u63d0\u51fa\u4e86\u4e00\u4e2a\u6838\u5fc3\u95ee\u9898\uff1a\u5f53AI\u4ee3\u7406\u5f00\u59cb\u81ea\u4e3b\u4ea4\u6613\u3001\u4e0b\u5355\u548c\u8c03\u7528\u94fe\u4e0a\u670d\u52a1\u65f6\uff0c\u5b83\u4eec\u5982\u4f55\u8bc1\u660e“\u6211\u662f\u8c01”\uff1f\u4e3a\u6b64\uff0ca16z\u63d0\u51fa\u4e86“\u4e86\u89e3\u4f60\u7684\u4ee3\u7406”\uff08Know Your Agent, KYA\uff09\u7684\u65b0\u5408\u89c4\u8303\u5f0f\u3002\u8fd9\u53ef\u80fd\u6210\u4e3aAI\u4ee3\u7406\u4e0e\u533a\u5757\u94fe\u4ea4\u4e92\u7684\u5148\u51b3\u6761\u4ef6\uff0c\u7c7b\u4f3c\u4e8e\u4eba\u7c7b\u7684KYC\u3002<\/p>\n

Pantera Capital\u5bf9\u6b64\u8fdb\u884c\u4e86\u66f4\u5177\u8c61\u7684\u9884\u6d4b\u3002\u4ed6\u4eec\u8ba4\u4e3a\uff0c\u57fa\u4e8ex402\u534f\u8bae\u7684\u5546\u4e1a\u667a\u80fd\u4ee3\u7406\u5c06\u5d1b\u8d77\u3002x402\u88ab\u89c6\u4e3a\u4e00\u79cd\u65b0\u7684\u652f\u4ed8\u6807\u51c6\u6216\u7aef\u70b9\uff0c\u5141\u8bb8AI\u4ee3\u7406\u8fdb\u884c\u5fae\u652f\u4ed8\uff08Micropayments\uff09\u548c\u5e38\u89c4\u652f\u4ed8\u3002<\/p>\n

\u5728\u8fd9\u4e00\u9886\u57df\uff0cPantera\u7279\u522b\u770b\u597dSolana\uff0c\u8ba4\u4e3a\u5176\u5c06\u5728x402\u7684“\u7f8e\u5206\u7ea7”\u4ea4\u6613\u91cf\u4e0a\u8d85\u8d8aBase\u94fe\uff0c\u6210\u4e3aAI\u4ee3\u7406\u7684\u9996\u9009\u7ed3\u7b97\u5c42\u3002<\/p>\n

Messari\u5728\u5176\u300c2026\u5e74\u52a0\u5bc6\u8bba\u6587\u300d\u4e2d\u4e5f\u5c06“Crypto x AI”\u5217\u4e3a\u4e03\u5927\u6838\u5fc3\u677f\u5757\u4e4b\u4e00\u3002\u4ed6\u4eec\u63cf\u8ff0\u4e86\u4e00\u4e2a“\u4ee3\u7406\u4eba\u5546\u4e1a”\uff08Agentic Commerce\uff09\u7684\u672a\u6765\uff0c\u53bb\u4e2d\u5fc3\u5316\u7684\u57fa\u7840\u8bbe\u65bd\u5c06\u652f\u6301AI\u6a21\u578b\u7684\u8bad\u7ec3\u548c\u6267\u884c\uff0c\u8fd9\u662f\u4e00\u4e2a\u52302030\u5e74\u89c4\u6a21\u53ef\u8fbe30\u4e07\u4ebf\u7f8e\u5143\u7684\u5e02\u573a\u3002<\/p>\n

Grayscale\u5f3a\u8c03\u4e86\u533a\u5757\u94fe\u4f5c\u4e3aAI\u4e2d\u5fc3\u5316\u98ce\u9669“\u89e3\u836f”\u7684\u89d2\u8272\u3002\u968f\u7740AI\u6a21\u578b\u53d8\u5f97\u8d8a\u6765\u8d8a\u5f3a\u5927\u4e14\u7531\u5c11\u6570\u5de8\u5934\u63a7\u5236\uff0c\u5bf9\u4e8e\u53bb\u4e2d\u5fc3\u5316\u8ba1\u7b97\u3001\u53bb\u4e2d\u5fc3\u5316\u6570\u636e\u9a8c\u8bc1\u4ee5\u53ca\u5185\u5bb9\u771f\u5b9e\u6027\u8bc1\u660e\u7684\u9700\u6c42\u5c06\u6fc0\u589e<\/p>\n

a16z\u63d0\u51fa\u4e86“\u8d28\u62bc\u5a92\u4f53”\uff08Staked Media\uff09\u7684\u6982\u5ff5\u3002\u9762\u5bf9AI\u751f\u6210\u7684\u865a\u5047\u5185\u5bb9\u6cdb\u6ee5\uff0c\u672a\u6765\u7684\u5185\u5bb9\u53d1\u5e03\u8005\uff08\u65e0\u8bba\u662f\u4eba\u7c7b\u8fd8\u662fAI\uff09\u53ef\u80fd\u9700\u8981\u8d28\u62bc\u8d44\u672c\u6765\u4e3a\u81ea\u5df1\u7684\u89c2\u70b9\u80cc\u4e66\u3002\u5982\u679c\u5185\u5bb9\u88ab\u8bc1\u660e\u662f\u865a\u5047\u6216\u6076\u610f\u7684\uff0c\u8d28\u62bc\u7684\u8d44\u672c\u5c06\u88ab\u7f5a\u6ca1\u3002<\/p>\n

\u5171\u8bc6\u4e4b\u4e0b\u7684\u6697\u6d41<\/h3>\n

\u5c3d\u7ba1\u5171\u8bc6\u5f3a\u5927\uff0c\u4f46\u673a\u6784\u95f4\u5728\u67d0\u4e9b\u5173\u952e\u95ee\u9898\u4e0a\u5b58\u5728\u5c16\u9510\u5206\u6b67\uff0c\u8fd9\u5f80\u5f80\u662f\u8d85\u989d\u6536\u76ca\u6216\u98ce\u9669\u7684\u6765\u6e90\u3002<\/p>\n

\u5206\u6b67\u4e00\uff1a\u7206\u53d1 vs \u6c89\u5bc2<\/p>\n

\u6e23\u6253\u94f6\u884c\u4f9d\u7136\u7ef4\u6301\u7740\u57fa\u4e8e\u4f9b\u9700\u7d27\u7f29\u7684\u6fc0\u8fdb\u770b\u6da8\u903b\u8f91\u3002\u6e23\u6253\u94f6\u884c\u76842026\u5e74BTC\u76ee\u6807\u4ef7\u4e3a15\u4e07\u7f8e\u5143\uff08\u8f83\u6b64\u524d30\u4e07\u4e0b\u8c03\uff09\uff0c2027\u5e74\u770b\u81f322.5\u4e07\u3002<\/p>\n

\u7136\u800c\uff0cGalaxy Digital\u548cBitwise\u5219\u63cf\u7ed8\u4e86\u4e00\u4e2a\u622a\u7136\u4e0d\u540c\u7684\u672a\u6765\uff1a\u4e00\u4e2a\u6ce2\u52a8\u7387\u538b\u7f29\u3001\u8d70\u52bf\u5e73\u7a33\u751a\u81f3“\u65e0\u804a”\u7684\u5e02\u573a\u3002Galaxy\u9884\u6d4bBTC\u4ef7\u683c\u53ef\u80fd\u57285\u4e07-25\u4e07\u7f8e\u5143\u5bbd\u5e45\u9707\u8361\u3002\u5982\u679cGalaxy\u662f\u5bf9\u7684\uff0c\u90a3\u4e48\u4e60\u60ef\u4e8e\u901a\u8fc7\u9ad8\u6ce2\u52a8\u7387\u83b7\u5229\u7684\u4ea4\u6613\u7b56\u7565\u57282026\u5e74\u5c06\u5f7b\u5e95\u5931\u6548\uff0c\u5e02\u573a\u5c06\u8f6c\u5411\u901a\u8fc7DeFi\u6536\u76ca\u7387\u548c\u5957\u5229\u6765\u83b7\u53d6\u56de\u62a5\u3002<\/p>\n

\u5206\u6b67\u4e8c\uff1a\u91cf\u5b50\u8ba1\u7b97\u7684\u5e7d\u7075<\/p>\n

Pantera Capital\u63d0\u51fa\u4e86\u4e00\u4e2a\u6781\u5177\u7834\u574f\u529b\u7684\u6f5c\u5728\u53d9\u4e8b——“\u91cf\u5b50\u6050\u614c”\u3002\u867d\u7136\u91cf\u5b50\u8ba1\u7b97\u673a\u7834\u89e3\u6bd4\u7279\u5e01\u79c1\u94a5\u5728\u5de5\u7a0b\u4e0a\u53ef\u80fd\u4ecd\u9700\u6570\u5e74\uff0c\u4f46Pantera\u8ba4\u4e3a\uff0c2026\u5e74\u79d1\u5b66\u754c\u53ef\u80fd\u5728\u7ea0\u9519\u91cf\u5b50\u6bd4\u7279\u4e0a\u53d6\u5f97\u7a81\u7834\uff0c\u8db3\u4ee5\u5f15\u53d1\u5e02\u573a\u7684\u6050\u614c\u6027\u629b\u552e\uff0c\u8feb\u4f7f\u6bd4\u7279\u5e01\u793e\u533a\u7d27\u6025\u8ba8\u8bba\u6297\u91cf\u5b50\u5206\u53c9\u3002<\/p>\n

\u5bf9\u6b64\uff0cCoinbase\u5219\u6301\u5b8c\u5168\u76f8\u53cd\u7684\u89c2\u70b9\uff0c\u8ba4\u4e3a\u8fd9\u57282026\u5e74\u53ea\u662f\u566a\u97f3\uff0c\u4e0d\u4f1a\u5f71\u54cd\u4f30\u503c\u3002<\/p>\n

\u5206\u6b67\u4e09\uff1aAI\u652f\u4ed8\u5c42\u4e4b\u4e89<\/p>\n

\u5728AI\u4ee3\u7406\u652f\u4ed8\u5c42\u7684\u4e89\u593a\u4e0a\uff0cPantera\u660e\u786e\u62bc\u6ce8Solana\u5c06\u8d85\u8d8aBase\uff0c\u7406\u7531\u662f\u5176\u5728\u4f4e\u6210\u672c\u5fae\u652f\u4ed8\u4e0a\u7684\u4f18\u52bf\u3002\u800cThe Block\u548cCoinbase\u5219\u66f4\u503e\u5411\u4e8e\u5f3a\u8c03Stablechains\uff08\u4e13\u7528\u7a33\u5b9a\u5e01\u94fe\uff09\u6216Layer 2\u751f\u6001\u7684\u6574\u4f53\u5d1b\u8d77\u3002\u8fd9\u9884\u793a\u77402026\u5e74\u5c06\u6709\u4e00\u573a\u5173\u4e8e“AI\u539f\u751f\u8d27\u5e01\u5c42”\u7684\u60e8\u70c8\u7ade\u4e89\u3002<\/p>\n

\u5de5\u4e1a\u5316\u65f6\u4ee3\u7684\u751f\u5b58\u6cd5\u5219<\/h3>\n

\u7efc\u5408\u5404\u5927\u9876\u7ea7\u673a\u6784\u76842026\u5e74\u5c55\u671b\uff0c\u6211\u4eec\u6e05\u6670\u5730\u770b\u5230\u52a0\u5bc6\u884c\u4e1a\u6b63\u5728\u7ecf\u5386\u7c7b\u4f3c\u4e92\u8054\u7f51\u57281996-2000\u5e74\u95f4\u7684\u8f6c\u53d8\uff1a\u4ece\u4e00\u79cd\u8fb9\u7f18\u7684\u3001\u610f\u8bc6\u5f62\u6001\u9a71\u52a8\u7684\u5b9e\u9a8c\uff0c\u8f6c\u53d8\u4e3a\u5168\u7403\u91d1\u878d\u548c\u6280\u672f\u6808\u4e2d\u4e0d\u53ef\u5265\u79bb\u7684“\u5de5\u4e1a\u7ec4\u4ef6”\u3002<\/p>\n

\u5bf9\u4e8e\u6295\u8d44\u8005\u548c\u4ece\u4e1a\u8005\u800c\u8a00\uff0c2026\u5e74\u7684\u751f\u5b58\u6cd5\u5219\u5c06\u53d1\u751f\u6539\u53d8\uff1a<\/p>\n

\u5173\u6ce8\u6d41\u5411\u800c\u975e\u53d9\u4e8b<\/strong><\/p>\n

\u968f\u7740\u56db\u5e74\u5468\u671f\u7684\u5931\u6548\uff0c\u5355\u7eaf\u4f9d\u8d56\u51cf\u534a\u53d9\u4e8b\u5c06\u4e0d\u518d\u594f\u6548\u3002\u5173\u6ce8ETF\u7684\u8d44\u91d1\u6d41\u5411\u3001\u7a33\u5b9a\u5e01\u7684\u53d1\u884c\u91cf\u4ee5\u53ca\u4f01\u4e1a\u8d44\u4ea7\u8d1f\u503a\u8868\u7684\u914d\u7f6e\u5c06\u66f4\u4e3a\u5173\u952e\u3002BlackRock\u4f5c\u4e3a\u5168\u7403\u6700\u5927\u7684\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\uff0c\u51762026\u5e74\u5c55\u671b\u76f4\u6307\u7f8e\u56fd\u7ecf\u6d4e\u7684\u8106\u5f31\u6027\u548c\u9884\u8ba1\u5c06\u8d85\u8fc738\u4e07\u4ebf\u7f8e\u5143\u7684\u8054\u90a6\u503a\u52a1\u3002\u8fd9\u79cd\u5b8f\u89c2\u538b\u529b\u5c06\u8feb\u4f7f\u6295\u8d44\u8005\u548c\u673a\u6784\u5bfb\u627e\u66ff\u4ee3\u7684\u4ef7\u503c\u5b58\u50a8\u624b\u6bb5\u3002<\/p>\n

\u62e5\u62b1\u5408\u89c4\u4e0e\u9690\u79c1<\/strong><\/p>\n

GENIUS\u6cd5\u6848\u9884\u8ba1\u5c06\u57282026\u5e74\u5168\u9762\u5b9e\u65bd\uff0c\u4e3a\u652f\u4ed8\u578b\u7a33\u5b9a\u5e01\u63d0\u4f9b\u8054\u90a6\u5c42\u9762\u7684\u76d1\u7ba1\u6846\u67b6\u3002KYA\u6807\u51c6\u7684\u51fa\u73b0\u610f\u5473\u7740“\u91ce\u86ee\u751f\u957f”\u65f6\u4ee3\u7684\u7ed3\u675f\u3002<\/p>\n

\u4f46Grayscale\u548cCoinbase\u90fd\u654f\u9510\u5730\u6355\u6349\u5230\u4e86\u9690\u79c1\u6280\u672f\u56de\u5f52\u7684\u8d8b\u52bf\u3002\u968f\u7740\u673a\u6784\u7684\u5927\u89c4\u6a21\u5165\u573a\uff0c\u5b83\u4eec\u65e0\u6cd5\u63a5\u53d7\u5728\u5b8c\u5168\u900f\u660e\u7684\u516c\u94fe\u4e0a\u66b4\u9732\u5546\u4e1a\u673a\u5bc6\u3002\u56e0\u6b64\uff0c\u57fa\u4e8e\u96f6\u77e5\u8bc6\u8bc1\u660e\u548c\u5168\u540c\u6001\u52a0\u5bc6\u7684\u5408\u89c4\u9690\u79c1\u89e3\u51b3\u65b9\u6848\u5c06\u6210\u4e3a\u521a\u9700\u3002Grayscale\u751a\u81f3\u7279\u522b\u63d0\u5230\u4e86\u8001\u724c\u9690\u79c1\u5e01Zcash (ZEC)\u53ef\u80fd\u4f1a\u56e0\u4e3a\u8fd9\u79cd\u5bf9“\u53bb\u4e2d\u5fc3\u5316\u9690\u79c1”\u7684\u91cd\u65b0\u8bc4\u4f30\u800c\u8fce\u6765\u4ef7\u503c\u91cd\u4f30\u3002<\/p>\n

\u5bfb\u627e\u771f\u5b9e\u6548\u7528<\/strong><\/p>\n

\u65e0\u8bba\u662fAI\u4ee3\u7406\u7684\u81ea\u52a8\u652f\u4ed8\uff0c\u8fd8\u662fRWA\u7684\u62b5\u62bc\u501f\u4ee3\uff0c2026\u5e74\u7684\u8d62\u5bb6\u5c06\u662f\u90a3\u4e9b\u80fd\u4ea7\u751f\u771f\u5b9e\u6536\u5165\u548c\u73b0\u91d1\u6d41\u7684\u534f\u8bae\uff0c\u800c\u975e\u4ec5\u4ec5\u62e5\u6709\u6cbb\u7406\u6743\u7684\u7a7a\u58f3Token\u3002<\/p>\n

Delphi Digital\u5c062026\u5e74\u5b9a\u4e49\u4e3a\u4e00\u4e2a\u5173\u952e\u7684\u8f6c\u6298\u70b9——\u5168\u7403\u592e\u884c\u653f\u7b56\u4ece\u5206\u6b67\u8d70\u5411\u878d\u5408\u3002\u62a5\u544a\u9884\u6d4b\uff0c\u968f\u7740\u7f8e\u8054\u50a8\u7ed3\u675f\u91cf\u5316\u7d27\u7f29\uff08QT\uff09\u5e76\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u964d\u81f33%\u4ee5\u4e0b\uff0c\u5168\u7403\u6d41\u52a8\u6027\u5c06\u91cd\u65b0\u6cdb\u6ee5\u3002\u6bd4\u7279\u5e01\u4f5c\u4e3a\u6d41\u52a8\u6027\u654f\u611f\u7684\u6297\u901a\u80c0\u8d44\u4ea7\uff0c\u5c06\u76f4\u63a5\u53d7\u76ca\u4e8e\u8fd9\u4e00\u5b8f\u89c2\u73af\u5883\u7684\u6539\u5584\u3002<\/p>\n

\u5c0f\u7ed3<\/h3>\n

\u7ad9\u57282025\u5e74\u7684\u5c3e\u58f0\u5c55\u671b2026\u5e74\uff0c\u6211\u4eec\u770b\u5230\u7684\u4e0d\u4ec5\u662f\u4e00\u4e2a\u884c\u4e1a\u7684\u5468\u671f\u6027\u6ce2\u52a8\uff0c\u66f4\u662f\u4e00\u4e2a\u8303\u5f0f\u7684\u6839\u672c\u6027\u8f6c\u53d8\u3002<\/p>\n

\u5f53Fidelity Digital Assets\u7684\u7814\u7a76\u526f\u603b\u88c1Chris Kuiper\u63d0\u51fa\uff0c\u672a\u6765\u53ef\u80fd\u6709\u66f4\u591a\u56fd\u5bb6\u5c06\u6bd4\u7279\u5e01\u7eb3\u5165\u5916\u6c47\u50a8\u5907\u65f6\uff0c\u8fd9\u4e0d\u4ec5\u662f\u4e00\u79cd\u7ecf\u6d4e\u51b3\u7b56\uff0c\u66f4\u662f\u4e00\u79cd\u5730\u7f18\u653f\u6cbb\u535a\u5f08\u3002\u5982\u679c\u4e00\u4e2a\u56fd\u5bb6\u5f00\u59cb\u79ef\u7d2f\u6bd4\u7279\u5e01\u4f5c\u4e3a\u50a8\u5907\u8d44\u4ea7\uff0c\u5176\u4ed6\u56fd\u5bb6\u4e3a\u4e86\u4fdd\u6301\u7ade\u4e89\u529b\uff0c\u5c06\u9762\u4e34\u5de8\u5927\u7684“\u9519\u5931\u6050\u60e7”\uff08FOMO\uff09\u538b\u529b\u800c\u88ab\u8feb\u8ddf\u8fdb\u3002<\/p>\n

2026\u5e74\uff0c\u52a0\u5bc6\u884c\u4e1a\u5c06\u4e0d\u518d\u662f“\u795e\u5947\u7684\u4e92\u8054\u7f51\u8d27\u5e01”\uff0c\u5b83\u6b63\u5728\u6210\u4e3a\u4e16\u754c\u7684\u4e00\u90e8\u5206\u3002<\/p>\n

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