{"id":1858,"date":"2026-05-04T13:05:36","date_gmt":"2026-05-04T05:05:36","guid":{"rendered":"https:\/\/www.yqcsfz.com\/?p=1858"},"modified":"2026-05-04T13:05:36","modified_gmt":"2026-05-04T05:05:36","slug":"%e3%80%90mica-research%e3%80%91%e5%85%b3%e7%a8%8e%e4%b8%8e%e5%b0%b1%e4%b8%9a%e6%8a%a5%e5%91%8a%e5%bd%b1%e5%93%8d%ef%bc%8c%e4%bd%86%e5%8a%a0%e5%af%86%e5%b8%82%e5%9c%ba%e5%b1%95%e6%9c%9b%e4%be%9d","status":"publish","type":"post","link":"https:\/\/www.manwah.net\/?p=1858","title":{"rendered":"\u3010MICA RESEARCH\u3011\u5173\u7a0e\u4e0e\u5c31\u4e1a\u62a5\u544a\u5f71\u54cd\uff0c\u4f46\u52a0\u5bc6\u5e02\u573a\u5c55\u671b\u4f9d\u7136\u6b63\u9762"},"content":{"rendered":"<div class=\"thumbnail-container animate-lazy\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"375\" class=\"attachment-jnews-750x375 size-jnews-750x375 lazyload wp-post-image\" alt=\"MICA Daily\uff5c\u672a\u5e73\u4ed3\u5408\u7ea6\u6570\u91cf\u4ecd\u5904\u9ad8\u5cf0\uff0c\u5e02\u573a\u770b\u591a BTC\u3001\u770b\u7a7a ETH\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/02\/DALL\u00b7E-2025-02-08-02.27.42-A-modern-arty-depiction-of-a-high-tech-financial-trading-floor-with-holographic-charts-displaying-employment-statistics-Federal-Reserve-interest-rate-750x375.webp\" data-srcset=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/02\/DALL\u00b7E-2025-02-08-02.27.42-A-modern-arty-depiction-of-a-high-tech-financial-trading-floor-with-holographic-charts-displaying-employment-statistics-Federal-Reserve-interest-rate-750x375.webp 750w, https:\/\/blockcast.it\/wp-content\/uploads\/2025\/02\/DALL\u00b7E-2025-02-08-02.27.42-A-modern-arty-depiction-of-a-high-tech-financial-trading-floor-with-holographic-charts-displaying-employment-statistics-Federal-Reserve-interest-rate-360x180.webp 360w, https:\/\/blockcast.it\/wp-content\/uploads\/2025\/02\/DALL\u00b7E-2025-02-08-02.27.42-A-modern-arty-depiction-of-a-high-tech-financial-trading-floor-with-holographic-charts-displaying-employment-statistics-Federal-Reserve-interest-rate-1140x570.webp 1140w\" data-sizes=\"auto\" data-expand=\"700\" title=\"\u3010MICA RESEARCH\u3011\u5173\u7a0e\u4e0e\u5c31\u4e1a\u62a5\u544a\u5f71\u54cd\uff0c\u4f46\u52a0\u5bc6\u5e02\u573a\u5c55\u671b\u4f9d\u7136\u6b63\u9762\u63d2\u56fe\" \/><\/div>\n<\/div>\n<div class=\"entry-content no-share\">\n<div class=\"jeg_share_button share-float jeg_sticky_share clearfix share-monocrhome\">\n<div class=\"jeg_share_float_container\"><\/div>\n<\/p><\/div>\n<div class=\"content-inner \">\n<p>\u7531\u4e8e\u52a0\u5bc6\u5e01\u9898\u6750\u5728\u5ddd\u666e\u4e0a\u4efb\u540e\u5df2\u7ecf\u544a\u4e00\u6bb5\u843d\uff0c\u540e\u7eed\u9700\u8981\u4e00\u6bb5\u65f6\u95f4\u624d\u6709\u66f4\u591a\u7684\u53d1\u9175\u7a7a\u95f4\uff0c\u6bd4\u7279\u5e01\u4ef7\u683c\u8fd1\u671f\u4e0e\u7f8e\u56fd\u603b\u4f53\u7ecf\u6d4e\u7684\u8fde\u52a8\u5ea6\u53c8\u66f4\u52a0\u88ab\u5e02\u573a\u653e\u5927\uff0c\u6bd4\u7279\u5e01\u4e0a\u5468\u53d7\u5230\u5ddd\u666e\u53d1\u52a8\u5173\u7a0e\u6218\u7684\u89c4\u6a21\u4ee5\u53ca\u5c31\u4e1a\u62a5\u544a\u7a0d\u5fae\u4f4e\u4e8e\u9884\u671f\u7684\u5f71\u54cd\uff0c\u4ef7\u683c\u4ece 10.2 \u4e07\u7f8e\u5143\u4e00\u8def\u7f13\u8dcc\u81f3 97,000 \u7f8e\u5143\uff0c\u5468\u8dcc\u5e45\u8fbe\u5230 6%\uff0c\u53cd\u6620\u7684\u662f\u6295\u8d44\u57fa\u91d1\u7684\u8d44\u91d1\u6d41\u52a8\u3002<\/p>\n<p>\u4ee5\u592a\u5e01\u5219\u662f\u56e0\u4e3a\u57fa\u91d1\u4f1a\u4e89\u8bae\u4e0e\u51fa\u552e\u529b\u9053\u6301\u7eed\uff0c\u4ef7\u683c\u8868\u73b0\u975e\u5e38\u4e0d\u7406\u60f3\uff0c\u5468\u8dcc\u5e45\u8fbe\u5230 20%\uff0c\u4ef7\u683c\u6765\u5230 2,700 \u7f8e\u5143\uff0c\u5176\u4ed6\u52a0\u5bc6\u8d27\u5e01\u677f\u5757\u4e5f\u53d7\u5230\u6295\u8d44\u4eba\u7f29\u624b\u800c\u4e0b\u8dcc\uff0c\u5c24\u5176\u662f\u8ff7\u56e0\u5e01\u8dcc\u5e45\u6700\u4e3a\u60e8\u70c8\uff0c\u5468\u8dcc\u5e45\u5927\u591a\u8d85\u8fc7 40%\uff0c\u53cd\u6620\u7684\u662f\u9ad8\u6760\u6746\u4ea4\u6613\u90e8\u4f4d\u53d7\u5230\u5927\u76d8\u51b2\u51fb\u800c\u88ab\u5f3a\u5236\u5e73\u4ed3\uff0c\u8ff7\u56e0\u5e01\u4ef7\u683c\u81ea\u7136\u53d7\u5230\u731b\u70c8\u7684\u5e73\u4ed3\u5356\u51fa\u3002<\/p>\n<p>\u6295\u673a\u60c5\u7eea\u6d88\u9000\u4e3b\u8981\u8fd8\u662f\u53d7\u5230\u5ddd\u666e\u5173\u7a0e\u6218\u7684\u56e0\u7d20\uff0c\u4e00\u5f00\u59cb\u5ddd\u666e\u5bf9\u58a8\u897f\u54e5\u3001\u52a0\u62ff\u5927\u4ee5\u53ca\u4e2d\u56fd\u91c7\u53d6\u6bd4\u9884\u671f\u66f4\u6fc0\u8fdb\u7684\u5173\u7a0e\u63aa\u65bd\uff0c\u4f7f\u5f97\u5e02\u573a\u4e0d\u786e\u5b9a\u987f\u65f6\u5347\u9ad8\uff0c\u6295\u673a\u8d44\u91d1\u4e5f\u8d81\u673a\u64a4\u51fa\u5e02\u573a\uff0c\u4f7f\u5f97\u8ff7\u56e0\u5e01\u76f8\u5173\u4ee3\u5e01\u7684\u635f\u5931\u76f8\u5f53\u60e8\u91cd\uff0c\u867d\u7136\u5ddd\u666e\u540e\u6765\u5ba3\u5e03\u6682\u7f13\u5173\u7a0e\u6218\uff0c\u5ef6\u540e\u4e00\u4e2a\u6708\u7559\u7ed9\u53cc\u65b9\u653f\u5e9c\u8c08\u5224\uff0c\u4f46\u5e02\u573a\u5df2\u7ecf\u88ab\u5413\u574f\u4e86\uff0c\u540e\u7eed\u6295\u673a\u8d44\u91d1\u672a\u56de\u6d41\u5e02\u573a\uff0c\u56e0\u6b64\u672a\u80fd\u50cf\u6bd4\u7279\u5e01\u83b7\u5f97\u8f83\u5f3a\u7684\u4e70\u76d8\u652f\u6491\u3002<\/p>\n<p>\u7ee7\u4e0a\u4e00\u671f\u62a5\u544a\u63d0\u5230\u7684\u603b\u7ecf\u4e8b\u4ef6\uff0c\u4e0a\u5468\u4e94\u7f8e\u56fd\u52b3\u5de5\u7edf\u8ba1\u5c40\u516c\u5e03\u7684 1 \u6708\u5c31\u4e1a\u6570\u636e\u663e\u793a\uff0c\u975e\u519c\u5c31\u4e1a\u65b0\u589e 14.3 \u4e07\u4eba\uff0c\u521b 3 \u4e2a\u6708\u65b0\u4f4e\uff0c\u4f4e\u4e8e\u5e02\u573a\u9884\u671f\u7684 16.9 \u4e07\u4eba\uff0c\u524d\u503c\u5219\u4ece 25.6 \u4e07\u4eba\u6210\u957f\u81f3 30.7 \u4e07\u4eba\u3002\u5931\u4e1a\u7387\u610f\u5916\u964d\u81f3 4.0%\uff0c\u663e\u793a\u7f8e\u56fd\u5c31\u4e1a\u5e02\u573a\u4f9d\u7136\u5f3a\u52b2\uff0c\u6ca1\u6709\u592a\u5dee\uff0c\u81f3\u5c11\u5931\u4e1a\u7387\u518d\u5ea6\u6765\u5230\u65b0\u4f4e\uff0c\u53e6\u5916\u85aa\u8d44\u589e\u901f\u9ad8\u4e8e\u9884\u671f\uff0c\u663e\u793a\u52b3\u52a8\u5e02\u573a\u4ecd\u5177\u97e7\u6027\u3002<\/p>\n<p>\u63a8\u52a8\u7f8e\u56fd\u5c31\u4e1a\u5f3a\u97e7\u5ea6\u5e76\u975e\u662f\u79d1\u6280\u4e1a\uff0c\u800c\u662f\u533b\u7597\u4fdd\u5065\u4ea7\u4e1a\u6301\u7eed\u63a8\u52a8\u5c31\u4e1a\u589e\u957f\uff0c\u96f6\u552e\u3001\u793e\u4f1a\u63f4\u52a9\u53ca\u653f\u5e9c\u90e8\u95e8\u4ea6\u6709\u6240\u589e\u52a0\uff0c\u800c\u91c7\u77ff\u53ca\u80fd\u6e90\u9886\u57df\u5219\u7565\u6709\u4e0b\u964d\uff0c\u4ee3\u8868\u7f8e\u56fd\u5f3a\u52b2\u7684\u5c31\u4e1a\u5e02\u573a\u672a\u6765\u8fd8\u662f\u6709\u53ef\u80fd\u51b7\u5374\uff0c\u56e0\u4e3a\u8fd8\u662f\u4ef0\u8d56\u653f\u5e9c\u652f\u51fa\u6301\u7eed\u6210\u957f\uff0c\u968f\u8457\u5ddd\u666e\u51cf\u5c11\u9884\u7b97\uff0c\u5c31\u4e1a\u5e02\u573a\u8f6c\u5411\u51b7\u5374\u5df2\u7ecf\u662f\u786e\u5b9a\u7684\u65b9\u5411\u3002<\/p>\n<p>\u867d\u7136\u8054\u51c6\u4f1a\uff08Fed\uff09\u6b64\u524d\u4e09\u5ea6\u964d\u606f\u540e\uff0c\u8fd1\u671f\u8868\u6001\u4e0d\u6025\u4e8e\u8fdb\u4e00\u6b65\u964d\u4f4e\u5229\u7387\u3002\u672c\u6b21\u62a5\u544a\u663e\u793a\u5c31\u4e1a\u6210\u957f\u6e29\u548c\uff0c\u85aa\u8d44\u589e\u901f\u5f3a\u52b2\u3002\u5e02\u573a\u9884\u6d4b Fed \u5c06\u5728 3 \u6708\u4e0e 5 \u6708\u7684\u8d27\u5e01\u653f\u7b56\u4f1a\u8bae\u4e0a\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\uff0c\u800c 6 \u6708\u964d\u606f\u673a\u7387\u7a81\u7834\u56db\u6210\uff0c\u7f8e\u56fd\u4ecd\u5904\u4e8e\u964d\u606f\u5faa\u73af\u5185\uff0c\u5728\u8fd9\u6837\u7684\u80cc\u666f\u4e0b\uff0c\u6211\u4eec\u8ba4\u4e3a\u52a0\u5bc6\u5e02\u573a\u7684\u57fa\u672c\u9762\u8fd8\u662f\u9887\u4e3a\u826f\u597d\uff0c\u53ea\u662f\u8fd8\u9700\u8981\u65f6\u95f4\u53d1\u9175\uff0c\u63a5\u4e0b\u6765\u8ba9\u6211\u4eec\u8c08\u8c08\u7f8e\u56fd\u52a0\u5bc6\u4ea7\u4e1a\u5b9e\u9645\u4e0a\u6709\u66f4\u591a\u8fdb\u5c55\u53d1\u751f\uff0c\u540e\u7eed\u53ef\u80fd\u4f1a\u5f15\u8d77\u53e6\u4e00\u6ce2\u8d44\u91d1\u6d41\u5165\u6f6e\u3002<\/p>\n<figure id=\"attachment_116956\" aria-describedby=\"caption-attachment-116956\" style=\"width: 1393px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-116956 size-full\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2025\/02\/chart-7.png\"  width=\"1393\" height=\"506\" title=\"\u3010MICA RESEARCH\u3011\u5173\u7a0e\u4e0e\u5c31\u4e1a\u62a5\u544a\u5f71\u54cd\uff0c\u4f46\u52a0\u5bc6\u5e02\u573a\u5c55\u671b\u4f9d\u7136\u6b63\u9762\u63d2\u56fe1\" alt=\"\u3010MICA RESEARCH\u3011\u5173\u7a0e\u4e0e\u5c31\u4e1a\u62a5\u544a\u5f71\u54cd\uff0c\u4f46\u52a0\u5bc6\u5e02\u573a\u5c55\u671b\u4f9d\u7136\u6b63\u9762\u63d2\u56fe1\" \/><figcaption id=\"caption-attachment-116956\" class=\"wp-caption-text\">Sources: MICA RESEARCH<\/figcaption><\/figure>\n<h4><strong>A. 02 \u6708 04 \u65e5 \u5ddd\u666e\u5ba3\u5e03\u5ef6\u540e\u4e00\u4e2a\u6708\u5bf9\u58a8\u897f\u54e5\u5b9e\u65bd\u5173\u7a0e\uff0c\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u5f3a\u52b2\u53cd\u5f39<\/strong><\/h4>\n<p>\u7f8e\u56fd\u603b\u7edf\u5ddd\u666e\u5ba3\u5e03\u5728\u4e0e\u58a8\u897f\u54e5\u603b\u7edf Claudia Sheinbaum \u53ca\u52a0\u62ff\u5927\u603b\u7406 Justin Trudeau \u901a\u8bdd\u540e\uff0c\u5c06\u6682\u7f13\u5bf9\u4e24\u56fd\u7684\u5173\u7a0e\u63aa\u65bd\uff0c\u539f\u8ba1\u5212\u5bf9\u58a8\u897f\u54e5\u6240\u6709\u8fdb\u53e3\u4ea7\u54c1\u8bfe\u5f81 25% \u5173\u7a0e\uff0c\u52a0\u62ff\u5927\u5927\u90e8\u5206\u5546\u54c1\u4e5f\u53d7\u5f71\u54cd\uff0c\u5e76\u5bf9\u80fd\u6e90\u4ea7\u54c1\u5f81\u6536 10% \u5173\u7a0e\u3002\u6b64\u5916\uff0c\u8fd8\u6709\u9488\u5bf9\u4e2d\u56fd\u5546\u54c1\u7684 10% \u65b0\u5173\u7a0e\u3002<\/p>\n<p>\u540c\u65f6\u5ddd\u666e\u5ba3\u5e03\u5c06\u4e0e\u58a8\u897f\u54e5\u8fdb\u884c\u4e3a\u671f\u4e00\u4e2a\u6708\u7684\u8c08\u5224\uff0c\u5546\u8ba8\u5b89\u5168\u3001\u79fb\u6c11\u4e0e\u8d38\u6613\u95ee\u9898\u3002\u8f9b\u9c8d\u59c6\u8868\u793a\uff0c\u5c06\u6d3e\u9063\u56fd\u6c11\u8b66\u536b\u961f\u52a0\u5f3a\u8fb9\u5883\u7ba1\u63a7\uff0c\u7f8e\u56fd\u5219\u9996\u6b21\u540c\u610f\u9632\u6b62\u9ad8\u529f\u7387\u6b66\u5668\u6d41\u5165\u58a8\u897f\u54e5\u3002\u4e13\u5bb6\u8ba4\u4e3a\uff0c\u867d\u7136\u5173\u7a0e\u653f\u7b56\u5e26\u6765\u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\uff0c\u4f46\u5ddd\u666e\u6216\u5c06\u7ee7\u7eed\u4ee5\u6b64\u4f5c\u4e3a\u8c08\u5224\u7b79\u7801\u3002<\/p>\n<p>\u6839\u636e\u5ddd\u666e\u7684\u8d34\u6587\uff0c\u901a\u8bdd\u4e2d\u58a8\u897f\u54e5\u627f\u8bfa\u7acb\u5373\u6d3e\u9063 1 \u4e07\u540d\u58eb\u5175\u9a7b\u5b88\u7f8e\u58a8\u8fb9\u5883\uff0c\u963b\u6b62\u82ac\u592a\u5c3c\u548c\u975e\u6cd5\u79fb\u6c11\u6d41\u5165\u7f8e\u56fd\uff1b\u52a0\u62ff\u5927\u5219\u627f\u8bfa\u52a0\u5f3a\u5317\u90e8\u8fb9\u754c\u5b89\u5168\uff0c\u5e76\u5c06\u82ac\u592a\u5c3c\u8d29\u6bd2\u96c6\u56e2\u5217\u4e3a\u6050\u6016\u7ec4\u7ec7\u3002\u675c\u9c81\u591a\u5ba3\u5e03\uff0c\u52a0\u62ff\u5927\u5c06\u843d\u5b9e 13 \u4ebf\u7f8e\u5143\u7684\u8fb9\u5883\u8ba1\u5212\u3002\u8fd9\u9879\u5173\u7a0e\u8ba1\u5212\u5f15\u53d1\u5e02\u573a\u9707\u8361\uff0c\u5bfc\u81f4\u9053\u743c\u6307\u6570\u5f00\u76d8\u5927\u8dcc\u8fd1 600 \u70b9\uff0c\u968f\u540e\u56e0\u58a8\u897f\u54e5\u534f\u8bae\u56de\u5347\uff0c\u6bd4\u7279\u5e01\u5219\u4ece 95,000 \u7f8e\u5143\u5f3a\u52b2\u53cd\u5f39\u81f3 10.2 \u4e07\u7f8e\u5143\uff0c\u6da8\u5e45\u8fd1 4.5% \u3002<\/p>\n<h4><strong>B. 02 \u6708 05 \u65e5 \u5171\u548c\u515a\u8bae\u5458\u6210\u7acb\u6570\u4f4d\u8d44\u4ea7\u6cd5\u89c4\u5236\u5b9a\u5c0f\u7ec4<\/strong><\/h4>\n<p>\u6628\u5929\u7f8e\u56fd\u963f\u80af\u8272\u5dde\u4f17\u8bae\u5458 French Hill\uff08\u4f17\u8bae\u9662\u91d1\u878d\u670d\u52a1\u59d4\u5458\u4f1a\u4e3b\u5e2d\uff09\u5728\u8bb0\u8005\u4f1a\u4e0a\u8868\u793a\u5171\u548c\u515a\u9635\u8425\u7684\u76f8\u5173\u90e8\u4f1a\u5c06\u7ec4\u6210\u300c\u8de8\u4e24\u9662\u5de5\u4f5c\u5c0f\u7ec4\u300d\uff0c\u63a8\u52a8\u6570\u4f4d\u8d44\u4ea7\u76d1\u7ba1\u6846\u67b6\u4e0e\u7a33\u5b9a\u5e01\u6cd5\u6848\uff0c\u76ee\u6807\u662f\u4e3a\u52a0\u5bc6\u4e1a\u754c\u63a8\u52a8\u66f4\u6e05\u6670\u7684\u76d1\u7ba1\u6846\u67b6\u4e0e\u6cd5\u6e90\u4f9d\u636e\uff0c\u4ed6\u4e5f\u8fd1\u4e00\u6b65\u5f3a\u8c03\u7f8e\u56fd\u4e0d\u5e94\u5728\u91d1\u878d\u79d1\u6280\u4e0e\u6570\u5b57\u8d44\u4ea7\u9886\u57df\u843d\u540e\u3002<\/p>\n<p>\u8fd9\u4e2a\u5de5\u4f5c\u5c0f\u7ec4\u72ec\u7acb\u4e8e\u5ddd\u666e\u7684\u884c\u653f\u547d\u4ee4\uff0c\u4e0e\u5ddd\u666e\u603b\u7edf 1 \u6708 23 \u65e5\u884c\u653f\u547d\u4ee4\u6240\u63d0\u8bae\u7684\u7ec4\u7ec7\u4e0d\u540c\u3002\u5ddd\u666e\u5f53\u65f6\u8bd5\u56fe\u7981\u6b62\u7f8e\u56fd\u653f\u5e9c\u53d1\u884c\u592e\u884c\u6570\u5b57\u8d27\u5e01\uff08CBDC\uff09\uff0c\u5e76\u7814\u7a76\u5efa\u7acb\u56fd\u5bb6\u52a0\u5bc6\u8d44\u4ea7\u50a8\u5907\uff0c\u4f46\u8be5\u5de5\u4f5c\u5c0f\u7ec4\u7684\u76ee\u6807\u4e3a\u5b8c\u6210\u65e2\u6709\u52a0\u5bc6\u76d1\u7ba1\u76f8\u5173\u6cd5\u6848\u5e76\u63a8\u52a8\u65b0\u63d0\u6848\u3002<\/p>\n<p>\u4f17\u8bae\u9662\u519c\u4e1a\u59d4\u5458\u4f1a\u4e3b\u5e2d Glenn Thompson \u8868\u793a\uff0c\u8be5\u5c0f\u7ec4\u53ef\u534f\u52a9\u5b8c\u6210 2024 \u5e74\u901a\u8fc7\u7684\u300a21 \u4e16\u7eaa\u91d1\u878d\u521b\u65b0\u4e0e\u6280\u672f\u6cd5\u6848\u300b\uff0cFrench Hill \u900f\u9732\u56fd\u4f1a\u8ba1\u5212\u5728\u65b0\u7684\u4f1a\u671f\u91cd\u65b0\u63d0\u51fa\u8be5\u6cd5\u6848\uff0c\u5e76\u5bf9\u7a33\u5b9a\u5e01\u6cd5\u6848\u8fdb\u884c\u300c\u9002\u5ea6\u4fee\u6539\u300d\uff0c\u6b64\u5916\u5ddd\u666e\u7684 AI \u4e0e\u52a0\u5bc6\u8d27\u5e01\u987e\u95ee David Sacks \u4e5f\u8868\u793a\uff0c\u884c\u653f\u90e8\u95e8\u7684\u5de5\u4f5c\u5c0f\u7ec4\u5c06\u4f18\u5148\u7814\u7a76\u5efa\u7acb\u6218\u7565\u6027\u6bd4\u7279\u5e01\u50a8\u5907\u7684\u53ef\u80fd\u6027\u3002<\/p>\n<h4><strong>C. 02 \u6708 07 \u65e5 Tiger21 \u4e3b\u5e2d\uff1a\u4f1a\u5458\u6301\u6709 60 \u4ebf\u7f8e\u5143\u7684\u52a0\u5bc6\u8d27\u5e01\uff0c\u5e76\u770b\u597d\u672a\u6765\u4ef7\u683c\u6f5c\u529b<\/strong><\/h4>\n<p>\u4f5c\u4e3a\u8d85\u9ad8\u51c0\u503c\u6295\u8d44\u4eba\u7f51\u8def\u7684 Tiger21 \u62e5\u6709\u7ea6 1,600 \u540d\u51c0\u8d44\u4ea7\u8d85\u8fc7 2,000 \u4e07\u7f8e\u5143\u7684\u4f1a\u5458\uff0c\u8be5\u7f51\u8def\u4e0d\u4f1a\u4e3b\u52a8\u66ff\u4f1a\u5458\u7ba1\u7406\u8d44\u4ea7\uff0c\u800c\u662f\u900f\u8fc7\u6295\u8d44\u4f1a\u8bae\u63d0\u4f9b\u5efa\u8bae\u4e0e\u4ea4\u6d41\u673a\u4f1a\uff0c\u5176\u4e3b\u5e2d Michael Sonnenfeldt \u5728\u8fd1\u671f\u900f\u9732\uff0c\u6574\u4f53\u7f51\u8def\u4f1a\u5458\u5171\u6301\u6709\u7ea6 60 \u4ebf\u7f8e\u5143\u7684\u52a0\u5bc6\u8d27\u5e01\uff0c\u5e76\u6839\u636e\u4ed6\u4eec\u7684\u6295\u8d44\u4f1a\u8bae\uff0c\u4f1a\u5458\u666e\u904d\u5bf9\u6bd4\u7279\u5e01\u672a\u6765\u7684\u4ef7\u683c\u4fdd\u6301\u8457\u4e50\u89c2\u6001\u5ea6\uff0c\u8ba4\u4e3a\u52a0\u5bc6\u8d27\u5e01\u53d1\u5c55\u7684\u6f5c\u529b\u76f8\u5f53\u5de8\u5927\u3002<\/p>\n<p>\u4ed6\u8868\u793a\u6574\u4e2a Tiger21 \u4f1a\u5458\u8d44\u4ea7\u7ea6 2,000 \u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d 1% \u81f3 3% \u6295\u8d44\u4e8e\u6570\u4f4d\u8d27\u5e01\u3002\u4e00\u4e9b\u6210\u5458\u751a\u81f3\u300c\u5168\u62bc\u300d\u8be5\u8d44\u4ea7\u7c7b\u522b\u3002\u4ed6\u5c06\u6bd4\u7279\u5e01\u6bd4\u4f5c\u9ec4\u91d1\uff0c\u8ba4\u4e3a\u4e24\u8005\u90fd\u88ab\u89c6\u4e3a\u4ef7\u503c\u50a8\u5b58\u5de5\u5177\uff0c\u4e14\u4e0d\u53d7\u653f\u5e9c\u6cd5\u5e01\u5f71\u54cd\u3002<\/p>\n<p>Sonnenfeldt \u6307\u51fa\uff0c\u5728\u7ecf\u6d4e\u52a8\u8361\u7684\u56fd\u5bb6\uff0c\u5982\u963f\u6839\u5ef7\u548c\u9ece\u5df4\u5ae9\uff0c\u6bd4\u7279\u5e01\u88ab\u7528\u6765\u4fdd\u503c\uff0c\u663e\u793a\u5176\u4f5c\u4e3a\u907f\u9669\u8d44\u4ea7\u7684\u91cd\u8981\u6027\uff0c\u52a0\u4e0a\u5ddd\u666e\u91cd\u8fd4\u767d\u5bab\u540e\uff0c\u6bd4\u7279\u5e01\u4ef7\u683c\u5feb\u901f\u4e0a\u6da8\uff0c\u539f\u56e0\u5305\u542b\u5176\u652f\u6301\u52a0\u5bc6\u8d27\u5e01\u5e76\u63d0\u8bae\u5efa\u7acb\u6218\u7565\u6027\u6bd4\u7279\u5e01\u50a8\u5907\uff0c\u5e26\u8d77\u7f8e\u56fd\u5bcc\u6709\u9636\u7ea7\u6295\u8d44\u6bd4\u7279\u5e01\u7684\u70ed\u6f6e\uff0c\u76ee\u524d Tiger21 \u8fd1 80% \u7684\u6295\u8d44\u96c6\u4e2d\u4e8e\u516c\u5f00\u53ca\u79c1\u4eba\u623f\u5730\u4ea7\u548c\u79c1\u52df\u80a1\u6743\uff0c\u800c\u73b0\u91d1\u6301\u6709\u6bd4\u4f8b\u964d\u81f3 17 \u5e74\u6765\u6700\u4f4e\u7684 10% \u4ee5\u4e0b\u3002<\/p>\n<h3><strong>\u57fa\u91d1\u516c\u53f8\u4e89\u76f8\u62a2\u98df\u52a0\u5bc6\u5e01 ETF \u5927\u997c\uff0c\u540e\u7eed\u6548\u5e94\u503c\u5f97\u671f\u5f85<\/strong><\/h3>\n<p>\u867d\u7136\u76ee\u524d\u5e02\u573a\u8f83\u4e3a\u6c89\u95f7\uff0c\u5ddd\u666e\u6240\u5e26\u6765\u7684\u4e0d\u786e\u5b9a\u6027\u9884\u8ba1\u4f1a\u6301\u7eed\u9020\u6210\u4ea4\u6613\u60c5\u7eea\u4e0a\u7684\u8d1f\u9762\u51b2\u51fb\uff0c\u6548\u5e94\u9884\u8ba1\u4f1a\u6301\u7eed\u5230\u5e02\u573a\u9ebb\u75f9\uff0c\u539f\u5148\u7684\u5ddd\u666e\u9898\u6750\u5e02\u573a\u65e9\u5df2\u9ebb\u75fa\uff0c\u540e\u7eed\u52a0\u5bc6\u5e02\u573a\u80af\u5b9a\u8fd8\u9700\u8981\u7ecf\u5386\u66f4\u591a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u8fd9\u4e9b\u4e0d\u786e\u5b9a\u6027\u5927\u591a\u6765\u81ea\u603b\u4f53\u7ecf\u6d4e\uff0c\u5168\u7403\u6295\u8d44\u8005\u90fd\u5728\u5173\u6ce8\u5ddd\u666e\u7684\u8d38\u6613\u4fdd\u62a4\u4e3b\u4e49\u4e0e\u5173\u7a0e\u65b0\u653f\u4f1a\u5982\u4f55\u51b2\u51fb\u5168\u7403\u7ecf\u6d4e\uff0c\u8fd9\u4e2a\u6982\u5ff5\u5e26\u6765\u7684\u4fbf\u662f\u4ea4\u6613\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\u3002<\/p>\n<p>\u4f46\u52a0\u5bc6\u8d27\u5e01\u7684\u4ea7\u4e1a\u53d1\u5c55\u6b63\u5728\u5feb\u901f\u6210\u957f\u4e2d\uff0c\u7279\u522b\u662f\u7ade\u4e89\u5e01\u7684 ETF \u7533\u8bf7\u6848\uff0c\u4e0a\u4e00\u671f\u6211\u4eec\u63d0\u5230\u8fc7 XRP \u73b0\u8d27 ETF \u5df2\u7ecf\u8fdb\u5165\u5ba1\u6838\u9636\u6bb5\uff0c\u63a5\u8457\u53c8\u4f20\u51fa\u53e6\u4e00\u4e2a\u6d88\u606f\uff0cSEC \u5df2\u6b63\u5f0f\u53d7\u7406 Grayscale \u63d0\u51fa\u7684 Solana \u73b0\u8d27 ETF \u7533\u8bf7\uff0c\u8fd9\u662f SEC \u9996\u6b21\u53d7\u7406\u300c\u66fe\u88ab\u89c6\u4e3a\u8bc1\u5238\u7684\u52a0\u5bc6\u8d27\u5e01 ETF \u7533\u8bf7\u300d\uff0cGrayscale \u4e8e\u53bb\u5e74\u5e95\u7533\u8bf7\u5c06\u5176 Solana \u4fe1\u6258\u57fa\u91d1\u8f6c\u4e3a ETF\uff0c\u76ee\u524d\u62e5\u6709\u8d85\u8fc7 700 \u4e07\u80a1\u6d41\u901a\u4efd\u989d\u3002 SEC \u53d7\u7406\u7533\u8bf7\u540e\uff0c\u5c06\u5728 240 \u5929\u5185\u51b3\u5b9a\u662f\u5426\u6279\u51c6\uff0c<\/p>\n<p>\u4e0a\u4e2a\u6708\u5ddd\u666e\u5c1a\u672a\u5c31\u4efb\u65f6\uff0c\u524d\u4e3b\u5e2d Gary Gensler \u66fe\u8981\u6c42\u829d\u52a0\u54e5\u671f\u6743\u4ea4\u6613\u6240\uff08CBOE\uff09\u64a4\u56de\u7c7b\u4f3c\u7684 Solana ETF \u7533\u8bf7\u3002 ETF \u4e13\u5bb6 James Seyffart \u6307\u51fa\uff0cSEC \u8fc7\u53bb\u5bf9 SOL ETF \u7533\u8bf7\u4e00\u6982\u4e0d\u4e88\u7406\u4f1a\uff0c\u800c\u8fd9\u6b21\u53d7\u7406\u53ef\u80fd\u4ee3\u8868\u5bf9\u52a0\u5bc6\u4ea7\u4e1a\u7684\u6001\u5ea6\u8f6c\u53d8\uff0c\u7279\u522b\u662f SEC \u4e4b\u524d\u5bf9 Binance \u548c Coinbase \u63d0\u51fa\u7684\u6cd5\u5f8b\u8bc9\u8bbc\uff0c\u6307\u63a7\u5b83\u4eec\u63d0\u4f9b\u672a\u6ce8\u518c\u8bc1\u5238\uff08\u5305\u62ec SOL\uff09\u3002<\/p>\n<p>Bloomberg \u8d44\u6df1 ETF \u5206\u6790\u5e08 Eric Balchunas \u4e5f\u8ba4\u4e3a\uff0c\u8fd9\u662f\u4e00\u9879\u300c\u6b63\u9762\u8fdb\u5c55\u300d\uff0c\u53ef\u80fd\u4e0e SEC \u65b0\u9886\u5bfc\u5c42\u7684\u53d8\u52a8\u6709\u5173\uff0c\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0cSeyffart \u5148\u524d\u66fe\u8868\u793a\uff0c\u7531\u4e8e SOL \u662f\u5426\u5c5e\u4e8e\u8bc1\u5238\u4ecd\u5b58\u6cd5\u5f8b\u4e89\u8bae\uff0c\u76f8\u5173 ETF \u53ef\u80fd\u8981\u7b49\u5230 2026 \u5e74\u624d\u6709\u673a\u4f1a\u83b7\u5f97\u4e0a\u5e02\u6279\u51c6\uff0c<\/p>\n<p>\u9664\u4e86 SOL \u4ee5\u5916\uff0cCBOE \u5df2\u7ecf\u4ee3\u8868\u591a\u5bb6\u6295\u8d44\u673a\u6784\uff08\u5982 Bitwise \u3001 WisdomTree \u3001 21Shares \u7b49\uff09\u63d0\u4ea4\u4e86 XRP ETF \u7533\u8bf7\u3002\u867d\u7136\u6279\u51c6\u4ecd\u5177\u4e0d\u786e\u5b9a\u6027\uff0c\u4f46 SEC \u8fd1\u671f\u5bf9 Litecoin ETF \u7684\u6001\u5ea6\u663e\u793a\uff0c\u52a0\u5bc6\u91d1\u878d\u4ea7\u54c1\u7684\u76d1\u7ba1\u73af\u5883\u53ef\u80fd\u6b63\u5728\u6539\u5584\uff0c\u81f3\u4e8e\u4e3a\u4f55\u5462\uff1f\u56e0\u4e3a\u5ddd\u666e\u5bb6\u65cf\u53ef\u80fd\u4e5f\u8981\u8fdb\u519b\u52a0\u5bc6\u57fa\u91d1\u5e02\u573a\uff0c\u6b64\u65f6 SEC \u7684\u6b63\u5411\u8868\u6001\u5c24\u4e3a\u91cd\u8981\u3002<\/p>\n<p>\u4e0a\u5468\u5ddd\u666e\u65d7\u4e0b\u7684\u5ddd\u666e\u5a92\u4f53\u4e0e\u6280\u672f\u96c6\u56e2\uff08TMTG\uff09\u63d0\u4ea4\u7533\u8bf7\uff0c\u4e3a\u5176\u91d1\u878d\u79d1\u6280\u54c1\u724c Truth.Fi \u6ce8\u518c\u65b0\u6295\u8d44\u57fa\u91d1\u5546\u6807\uff0c\u8ba1\u5212\u63a8\u51fa\u4e09\u79cd\u6295\u8d44\u4ea7\u54c1\uff0c\u5176\u4e2d\u5305\u542b\u300c\u6bd4\u7279\u5e01\u589e\u5f3a\u300dETF \u548c SMA\uff0c\u7528\u4e8e\u8be5\u516c\u53f8\u63a2\u7d22\u6bd4\u7279\u5e01\u76f8\u5173\u7b56\u7565\u3002<\/p>\n<p>\u8fd9\u57fa\u672c\u4e0a\u4e5f\u63ed\u793a\uff0c\u6bd4\u7279\u5e01\u6218\u7565\u50a8\u5907\u5e76\u975e\u5206\u6790\u5e08\u6216\u5ddd\u666e\u53e3\u4e2d\u7684\u5929\u65b9\u591c\u8c2d\uff0c\u53ea\u8981\u6bd4\u7279\u5e01\u6210\u4e3a\u7f8e\u56fd\u7684\u56fd\u5bb6\u6218\u7565\u50a8\u5907\uff0c\u90a3\u4e48\u4e5f\u6709\u52a9\u4e8e\u62c9\u62ac\u5ddd\u666e\u81ea\u5bb6\u516c\u53f8\u53d1\u884c\u7684 ETF \u4ea7\u54c1\uff0c\u518d\u6765\u5982\u679c\u5ddd\u666e\u81ea\u5df1\u7684\u516c\u53f8\u90fd\u8fdb\u519b\u52a0\u5bc6\u5e01\u5e02\u573a\uff0c\u76ee\u6807\u9664\u4e86\u63d0\u4f9b\u6bd4\u7279\u5e01 ETF \u5916\uff0c\u540e\u7eed\u66f4\u6709\u53ef\u80fd\u6269\u5927\u5236\u7ade\u4e89\u5e01 ETF \u7684\u53d1\u884c\uff0c\u5047\u8bbe\u5982\u6b64\uff0c\u5ddd\u666e\u653f\u5e9c\u5728\u52a0\u5bc6\u5e01\u76d1\u7ba1\u52bf\u5fc5\u8981\u5f00\u653e\u66f4\u591a\u7ade\u4e89\u5e01 ETF \u4e0a\u5e02\uff0c\u9884\u8ba1\u5c06\u6709\u52a9\u4e8e\u52a0\u5bc6\u5e01\u4ef7\u683c\u540e\u7eed\u4e0a\u6da8\uff0c\u8fd1\u671f\u8fd9\u4e9b\u6f5c\u5728\u4ee3\u5e01\u76ee\u6807\uff08XRP \u3001 LTC \u6216\u662f SOL\uff09\u90fd\u53ef\u80fd\u56e0\u4e3a\u76d1\u7ba1\u53d8\u5316\u800c\u51fa\u73b0\u8f83\u4e3a\u663e\u8457\u7684\u4ef7\u683c\u6ce2\u52a8\u3002<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>\u4e0a\u5468\u56de\u987e???????????????????????? \u3010MICA RESEARCH\u3011\u5c55\u671b\u52a0\u5bc6\u76d1\u7ba1\u653e\u5bbd\uff0c\u7ade\u4e89\u5e01\u51fa\u73b0 ETF \u7533\u8bf7\u70ed\u6f6e<\/strong><\/h2>\n<hr \/>\n<p><em>\u58f0\u660e\uff1a\u6587\u7ae0\u4ec5\u4ee3\u8868\u4f5c\u8005\u4e2a\u4eba\u89c2\u70b9\u610f\u89c1\uff0c\u4e0d\u4ee3\u8868\u533a\u5757\u5ba2\u89c2\u70b9\u548c\u7acb\u573a\uff0c\u6240\u6709\u5185\u5bb9\u53ca\u89c2\u70b9\u4ec5\u4f9b\u53c2\u8003\uff0c\u4e0d\u6784\u6210\u6295\u8d44\u5efa\u8bae\u3002\u6295\u8d44\u8005\u5e94\u81ea\u884c\u51b3\u7b56\u4e0e\u4ea4\u6613\uff0c\u5bf9\u6295\u8d44\u8005\u4ea4\u6613\u5f62\u6210\u7684\u76f4\u63a5\u95f4\u63a5\u635f\u5931\u4f5c\u8005\u53ca\u533a\u5757\u5ba2\u5c06\u4e0d\u627f\u62c5\u4efb\u4f55\u8d23\u4efb\u3002<\/em><\/p>\n<p><em><strong>MICA Research \u7684\u5185\u5bb9\u5df2\u540c\u6b65\u4e8e Substack \u53d1\u5e03\uff0c\u4e0d\u60f3\u9519\u8fc7\u7b2c\u4e00\u624b\u6d88\u606f\uff0c\u8bf7\u70b9\u51fb\u8fd9\u91cc\u524d\u5f80\u8ba2\u9605\uff0c\u5468\u62a5\u4ee5\u53ca\u6bcf\u5929\u7684\u5e02\u573a\u53d1\u73b0\u5373\u4f1a\u900f\u8fc7 Email \u4f20\u9001\u7ed9\u60a8\u3002<\/strong><\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-50757 size-medium\" src=\"https:\/\/blockcast.it\/wp-content\/uploads\/2020\/06\/mica02_\u5de5\u4f5c\u533a\u57df-1-300x300.png\"  width=\"300\" height=\"300\" title=\"\u3010MICA RESEARCH\u3011\u5173\u7a0e\u4e0e\u5c31\u4e1a\u62a5\u544a\u5f71\u54cd\uff0c\u4f46\u52a0\u5bc6\u5e02\u573a\u5c55\u671b\u4f9d\u7136\u6b63\u9762\u63d2\u56fe2\" alt=\"\u3010MICA RESEARCH\u3011\u5173\u7a0e\u4e0e\u5c31\u4e1a\u62a5\u544a\u5f71\u54cd\uff0c\u4f46\u52a0\u5bc6\u5e02\u573a\u5c55\u671b\u4f9d\u7136\u6b63\u9762\u63d2\u56fe2\" \/><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u7531\u4e8e\u52a0\u5bc6\u5e01\u9898\u6750\u5728\u5ddd\u666e\u4e0a\u4efb\u540e\u5df2\u7ecf\u544a\u4e00\u6bb5\u843d\uff0c\u540e\u7eed\u9700\u8981\u4e00\u6bb5\u65f6\u95f4\u624d\u6709\u66f4\u591a\u7684\u53d1\u9175\u7a7a\u95f4\uff0c\u6bd4\u7279\u5e01\u4ef7\u683c\u8fd1\u671f\u4e0e\u7f8e\u56fd\u603b\u4f53\u7ecf\u6d4e\u7684\u8fde\u52a8 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1859,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1858","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1858"}],"version-history":[{"count":1,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1858\/revisions"}],"predecessor-version":[{"id":7510,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1858\/revisions\/7510"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/media\/1859"}],"wp:attachment":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}