\u4ee5\u592a\u574a\u6700\u8fd1\u4e00\u76f4\u5728\u52aa\u529b\u83b7\u5f97\u52a8\u529b\uff0c\u5373\u4f7f\u6bd4\u7279\u5e01\u6301\u7eed\u98d9\u5347\u3002\u867d\u7136\u6bd4\u7279\u5e01\u591a\u6b21\u6253\u7834\u5176\u5386\u53f2\u6700\u9ad8\u4ef7\u683c\u8bb0\u5f55\uff0c\u4f46\u4ee5\u592a\u574a\u4e00\u76f4\u5728\u52aa\u529b\u8ddf\u4e0a\u3002\u7136\u800c\uff0c\u4ee5\u592a\u574a\u6700\u8fd1\u7ec8\u4e8e\u8bbe\u6cd5\u7a81\u7834\u4e86 3,000 \u7f8e\u5143\u7684\u574e\uff0c\u81ea\u4e0a\u6b21\u8fbe\u5230\u6b64\u6c34\u5e73\u4ee5\u6765\u6807\u5fd7\u7740\u4e00\u4e2a\u91cd\u8981\u7684\u65f6\u523b\u3002<\/p>\n\n
\u5728\u6b64\u6b21\u4e0a\u6da8\u4e4b\u524d\uff0c\u4ee5\u592a\u574a\u5df2\u8dcc\u81f3 2,375 \u7f8e\u5143\u3002\u4f46\u968f\u7740\u6570\u5b57\u8d44\u4ea7\u9886\u57df\u7684\u79ef\u6781\u53d1\u5c55\uff0c\u4ee5\u592a\u574a\u7684\u4ef7\u683c\u5f00\u59cb\u6500\u5347\u3002\u5728\u8fc7\u53bb\u4e00\u5468\u4e2d\uff0c\u4ee5\u592a\u574a\u7684\u4ef7\u683c\u4e0a\u6da8\u4e86 20%\uff0c\u8d85\u8fc7\u4e86\u6bd4\u7279\u5e01\u81ea\u8eab 10% \u7684\u6da8\u5e45\u3002\u8fd9\u8868\u660e\u4ee5\u592a\u574a\u53ef\u80fd\u6b63\u5728\u8fce\u5934\u8d76\u4e0a\u6bd4\u7279\u5e01\u7684\u5e02\u573a\u52a8\u80fd\u3002<\/p>\n\n
\u53e6\u4e00\u65b9\u9762\uff0c\u6bd4\u7279\u5e01\u7ee7\u7eed\u521b\u4e0b\u65b0\u7684\u5386\u53f2\u9ad8\u70b9\u3002\u6570\u636e\u663e\u793a\uff0c\u6bd4\u7279\u5e01\u8fbe\u5230 77,230 \u7f8e\u5143\u7684\u65b0\u9ad8\uff0c\u8d85\u8fc7\u4e86\u6b64\u524d\u7684\u6700\u9ad8\u70b9\u3002\u8fd9\u4e00\u6ce2\u4e0a\u6da8\u53d1\u751f\u5728\u6295\u8d44\u8005\u5bf9\u6570\u5b57\u8d44\u4ea7\u8868\u73b0\u51fa\u66f4\u591a\u5174\u8da3\u7684\u65f6\u5019\u3002\u751a\u81f3\u5728\u6b64\u6b21\u98d9\u5347\u4e4b\u524d\uff0c\u6bd4\u7279\u5e01\u7684\u52bf\u5934\u5c31\u5df2\u7ecf\u79ef\u805a\u3002\u6295\u8d44\u8005\u4eca\u5e74\u5df2\u5411\u73b0\u8d27\u6bd4\u7279\u5e01 ETF \u6295\u5165\u4e86\u6570\u5341\u4ebf\u7f8e\u5143\u3002\u6bd4\u7279\u5e01\u76f8\u5bf9\u4e8e\u4ee5\u592a\u574a\u7684\u5e02\u573a\u4e3b\u5bfc\u5730\u4f4d\u4e5f\u6709\u6240\u589e\u957f\uff0c\u4e0a\u4e2a\u6708\u8fbe\u5230\u4e09\u5e74\u9ad8\u70b9\u3002<\/p>\n\n
\u5c3d\u7ba1\u4ee5\u592a\u574a\u5728\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d (DeFi) \u4e2d\u53d1\u6325\u7740\u91cd\u8981\u4f5c\u7528\uff0c\u4f46\u76d1\u7ba1\u7684\u4e0d\u786e\u5b9a\u6027\u4e00\u76f4\u662f\u4e00\u4e2a\u6311\u6218\u3002\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a (SEC) \u5df2\u5bf9 Uniswap \u7b49 DeFi \u5e73\u53f0\u53d1\u51fa\u6267\u6cd5\u5a01\u80c1\u3002\u8fd9\u589e\u52a0\u4e86\u5e02\u573a\u7684\u4e0d\u786e\u5b9a\u6027\u3002\u7136\u800c\uff0c\u6709\u8ff9\u8c61\u8868\u660e\u8fd9\u79cd\u60c5\u51b5\u53ef\u80fd\u5f88\u5feb\u5c31\u4f1a\u6539\u53d8\u3002\u76d1\u7ba1\u673a\u6784\u8f6c\u5411\u66f4\u5177\u534f\u4f5c\u6027\u7684\u65b9\u6cd5\u53ef\u80fd\u4f1a\u6539\u5584\u4ee5\u592a\u574a\u7684\u524d\u666f\u3002<\/p>\n\n
\u50cf Aave \u548c Ethena \u8fd9\u6837\u7684\u5e73\u53f0\u7684\u6cbb\u7406\u4ee3\u5e01\u5df2\u7ecf\u770b\u5230\u4e86\u663e\u7740\u7684\u4ef7\u683c\u4e0a\u6da8\u3002Aave \u7684\u4ee3\u5e01\u4e0a\u6da8\u4e86 29% \u81f3 183 \u7f8e\u5143\uff0cEthena \u7684\u4ee3\u5e01\u4e0a\u6da8\u4e86 34% \u81f3 0.50 \u7f8e\u5143\u3002\u8fd9\u4e9b\u6da8\u5e45\u8868\u660e\uff0c\u6295\u8d44\u8005\u5bf9 DeFi \u548c\u4ee5\u592a\u574a\u5728\u5176\u4e2d\u7684\u4f5c\u7528\u6301\u4e50\u89c2\u6001\u5ea6\u3002\u4ea4\u6613\u5458\u6b63\u5728\u731c\u6d4b\u8fdb\u4e00\u6b65\u4e0a\u6da8\uff0c\u800c\u5e02\u573a\u4fdd\u6301\u5f3a\u52b2\u7684\u770b\u6da8\u60c5\u7eea\u3002<\/p>\n\n
\u671f\u6743\u4ea4\u6613\u5458\u4e5f\u5bf9\u4ee5\u592a\u574a\u8868\u73b0\u51fa\u4e50\u89c2\u60c5\u7eea\u3002\u4ed6\u4eec\u5bf9 30 \u5929\u548c 7 \u5929\u7684\u65f6\u671f\u90fd\u6709\u79ef\u6781\u7684\u770b\u6cd5\u3002\u8fd9\u8868\u660e\u4ee5\u592a\u574a\u7684\u770b\u6da8\u60c5\u7eea\u51fa\u73b0\u56de\u5347\uff0c\u800c\u4ee5\u592a\u574a\u901a\u5e38\u88ab\u89c6\u4e3a\u6bd4\u6bd4\u7279\u5e01\u98ce\u9669\u66f4\u9ad8\u7684\u8d44\u4ea7\u3002<\/p>\n\n
\u4ee5\u592a\u574a\u4ecd\u5728\u8ffd\u8d76\u5176\u5728 2021 \u5e74 11 \u6708\u521b\u4e0b\u7684 4,878 \u7f8e\u5143\u7684\u5386\u53f2\u6700\u9ad8\u4ef7\u683c\u30023 \u6708\u4efd\uff0c\u5b83\u5728\u4e00\u6574\u5929\u5185\u7a81\u7834 4,000 \u7f8e\u5143\u5927\u5173\u65f6\u63a5\u8fd1\u4e86\u8fd9\u4e2a\u76ee\u6807\u3002\u7136\u800c\uff0c\u76d1\u7ba1\u969c\u788d\u4f7f\u5f97\u73b0\u8d27\u4ee5\u592a\u574a ETF \u7684\u83b7\u6279\u53ef\u80fd\u6027\u964d\u4f4e\u3002\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\uff0cSEC \u8c03\u67e5\u4e86\u4ee5\u592a\u574a\u57fa\u91d1\u4f1a\uff0c\u589e\u52a0\u4e86\u76d1\u7ba1\u6311\u6218\u3002\u4e09\u4e2a\u6708\u540e\u8c03\u67e5\u7ed3\u675f\uff0c\u4f46\u5e02\u573a\u4ecd\u611f\u53d7\u5230\u5176\u5f71\u54cd\u3002<\/p>\n\n
5 \u6708\u4efd\uff0c\u4eba\u4eec\u66fe\u5e0c\u671b\u83b7\u5f97\u73b0\u8d27\u4ee5\u592a\u574a ETF \u7684\u6279\u51c6\uff0c\u8fd9\u5c06\u9a8c\u8bc1\u4ee5\u592a\u574a\u7684\u76d1\u7ba1\u5730\u4f4d\u3002\u5c3d\u7ba1\u8fd9\u4e00\u53d1\u5c55\u88ab\u89c6\u4e3a\u79ef\u6781\u7684\uff0c\u4f46\u5f53 ETF \u5728 7 \u6708\u63a8\u51fa\u65f6\uff0cGrayscale \u7684\u4ee5\u592a\u574a\u4fe1\u6258\u7684\u8d44\u91d1\u5916\u6d41\u6291\u5236\u4e86\u8fd9\u79cd\u70ed\u60c5\u3002\u8fd9\u7ed9\u4ee5\u592a\u574a\u7684\u4ef7\u683c\u5e26\u6765\u4e86\u4e0b\u884c\u538b\u529b\u3002<\/p>\n\n
\u6700\u8fd1\uff0c\u56f4\u7ed5\u4ee5\u592a\u574a\u5347\u7ea7\u7684\u4e89\u8bba\u4e0d\u65ad\uff0c\u8be5\u5347\u7ea7\u4e3a\u7b2c 2 \u5c42\u7f51\u7edc\u63d0\u4f9b\u4e86\u4e00\u4e2a\u4e13\u95e8\u7684\u7a7a\u95f4\u6765\u53d1\u5e03\u4ea4\u6613\u3002\u5c3d\u7ba1\u6b64\u5347\u7ea7\u4f7f\u7b2c 2 \u5c42\u7f51\u7edc\u53d8\u5f97\u66f4\u4fbf\u5b9c\uff0c\u4f46\u4e00\u4e9b\u4eba\u8ba4\u4e3a\u4ee5\u592a\u574a\u53ef\u80fd\u4f1a\u53d8\u5f97\u66f4\u7cdf\u3002\u6b64\u6b21\u5347\u7ea7\u5bfc\u81f4\u4ee5\u592a\u574a\u7684\u6574\u4f53\u4f9b\u5e94\u518d\u6b21\u51fa\u73b0\u901a\u80c0\uff0c\u5e76\u5bfc\u81f4\u6574\u4f53\u8d39\u7528\u6536\u5165\u4e0b\u964d\u3002<\/p>\n\n
\u5c3d\u7ba1\u5982\u6b64\uff0c\u8fd9\u4e9b\u6311\u6218\u5e76\u6ca1\u6709\u963b\u6b62\u4ea4\u6613\u5458\u731c\u6d4b\u8fdb\u4e00\u6b65\u4e0a\u6da8\u3002\u5e02\u573a\u7684\u770b\u6da8\u60c5\u7eea\u4ecd\u7136\u5f3a\u52b2\u3002\u4ea4\u6613\u8005\u5bf9\u4ee5\u592a\u574a\u7684\u77ed\u671f\u524d\u666f\u6301\u4e50\u89c2\u6001\u5ea6\uff0c\u8fd9\u79cd\u4e50\u89c2\u60c5\u7eea\u53cd\u6620\u5728\u671f\u6743\u5e02\u573a\u4e2d\u3002<\/p>\n\n
\u4ee5\u592a\u574a\u7684 DeFi \u5e94\u7528\u7a0b\u5e8f\u683c\u5c40\u662f\u8be5\u884c\u4e1a\u7684\u5173\u952e\u90e8\u5206\u3002Uniswap \u548c Aave \u7b49\u5e73\u53f0\u5728\u8fd9\u4e2a\u9886\u57df\u53d1\u6325\u7740\u91cd\u8981\u4f5c\u7528\u3002\u5c3d\u7ba1\u5b58\u5728\u76d1\u7ba1\u4e0d\u786e\u5b9a\u6027\uff0c\u4f46 DeFi \u884c\u4e1a\u4ecd\u5728\u7ee7\u7eed\u589e\u957f\u3002\u5982\u679c\u76d1\u7ba1\u673a\u6784\u91c7\u53d6\u66f4\u5177\u534f\u4f5c\u6027\u7684\u65b9\u6cd5\uff0c\u4ee5\u592a\u574a\u7684 DeFi \u63a5\u8fd1\u6027\u53ef\u80fd\u662f\u4e00\u4e2a\u4f18\u52bf\u3002<\/p>\n\n
\u6bd4\u7279\u5e01\u7684\u6301\u7eed\u6210\u529f\u4e5f\u5f71\u54cd\u7740\u4ee5\u592a\u574a\u3002\u6295\u8d44\u8005\u5bf9\u73b0\u8d27\u6bd4\u7279\u5e01 ETF \u548c\u6bd4\u7279\u5e01\u5e02\u573a\u4e3b\u5bfc\u5730\u4f4d\u7684\u5174\u8da3\u5f71\u54cd\u7740\u6574\u4e2a\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u3002\u968f\u7740\u6bd4\u7279\u5e01\u521b\u4e0b\u65b0\u7684\u5386\u53f2\u9ad8\u70b9\uff0c\u5b83\u5f15\u8d77\u4e86\u4eba\u4eec\u5bf9\u6570\u5b57\u8d44\u4ea7\u6574\u4f53\u7684\u5173\u6ce8\u3002<\/p>\n\n
\u5728\u7ecf\u5386\u4e86\u4e00\u6bb5\u65f6\u95f4\u7684\u6323\u624e\u4e4b\u540e\uff0c\u4ee5\u592a\u574a\u5f00\u59cb\u83b7\u5f97\u52a8\u529b\u3002\u968f\u7740\u5176\u4ef7\u683c\u7a81\u7834 3,000 \u7f8e\u5143\u7684\u5173\u53e3\uff0c\u5e02\u573a\u91cd\u65b0\u71c3\u8d77\u4e86\u4e50\u89c2\u60c5\u7eea\u3002\u76d1\u7ba1\u6311\u6218\u4ecd\u7136\u5b58\u5728\uff0c\u4f46\u4eba\u4eec\u5e0c\u671b\u65b9\u6cd5\u7684\u8f6c\u53d8\u53ef\u80fd\u4f7f\u4ee5\u592a\u574a\u53d7\u76ca\u3002\u4ea4\u6613\u5458\u6b63\u5728\u731c\u6d4b\u8fdb\u4e00\u6b65\u4e0a\u6da8\uff0c\u800c\u770b\u6da8\u60c5\u7eea\u5f88\u5f3a\u3002\u968f\u7740\u4ee5\u592a\u574a\u8bd5\u56fe\u8d76\u4e0a\u6bd4\u7279\u5e01\u7684\u60ca\u4eba\u8868\u73b0\uff0c\u5b83\u7684\u672a\u6765\u770b\u8d77\u6765\u4e00\u7247\u5149\u660e\u3002<\/p>","protected":false},"excerpt":{"rendered":"
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