{"id":3683,"date":"2026-09-29T02:36:35","date_gmt":"2026-09-28T18:36:35","guid":{"rendered":"https:\/\/www.shoppingguid.com\/?p=3683"},"modified":"2026-09-29T02:36:35","modified_gmt":"2026-09-28T18:36:35","slug":"%e9%bb%91%e5%a4%a9%e9%b9%85%e5%8e%9f%e6%9d%a5%e6%98%af%e5%ae%83%ef%bc%9a%e6%9c%ac%e8%bd%ae%e6%af%94%e7%89%b9%e5%b8%81%e6%9a%b4%e8%b7%8c%e7%9a%84%e7%9c%9f%e6%ad%a3%e5%8e%9f%e5%9b%a0","status":"publish","type":"post","link":"https:\/\/www.jiankangguanli1.com\/?p=3683","title":{"rendered":"\u9ed1\u5929\u9e45\u539f\u6765\u662f\u5b83\uff1a\u672c\u8f6e\u6bd4\u7279\u5e01\u66b4\u8dcc\u7684\u771f\u6b63\u539f\u56e0"},"content":{"rendered":"
\n

\u4f5c\u8005 | Jeff Park\uff08Bitwise \u9996\u5e2d\u4fe1\u606f\u5b98\uff09<\/em><\/p>\n

\u7f16\u8bd1 | Odaily\u661f\u7403\u65e5\u62a5\uff08<\/em>@OdailyChina<\/em>\uff09<\/em><\/p>\n

\u8bd1\u8005 | \u53ee\u5f53\uff08<\/em>@XiaMiPP<\/em>\uff09<\/em><\/p>\n

\u7f16\u8005\u6309\uff1a2\u67085\u65e5\uff0c\u52a0\u5bc6\u5e02\u573a\u518d\u4e00\u6b21\u7ecf\u5386\u4e86\u66b4\u8dcc\uff0c24\u5c0f\u65f6\u6e05\u7b97\u89c4\u6a21\u8d8526\u4ebf\u7f8e\u5143\uff0c\u6bd4\u7279\u5e01\u4e00\u5ea6\u95ea\u5d29\u81f36\u4e07\u7f8e\u5143\uff0c\u4f46\u662f\u5e02\u573a\u4f3c\u4e4e\u5bf9\u8fd9\u6b21\u4e0b\u8dcc<\/em>\u7684\u6210\u56e0\u5e76\u672a\u5f62\u6210\u6e05\u6670\u5171\u8bc6\u3002Bitwise \u9996\u5e2d\u4fe1\u606f\u5b98 Jeff Park<\/em> \u4ece\u671f\u6743\u4e0e\u5bf9\u51b2\u673a\u5236<\/strong>\u7684\u89d2\u5ea6\uff0c\u8865\u5145\u4e86\u4e00\u79cd\u65b0\u7684\u5206\u6790\u6846\u67b6\u3002\"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

\u968f\u7740\u65f6\u95f4\u63a8\u79fb\u3001\u66f4\u591a\u6570\u636e\u9646\u7eed\u62ab\u9732\uff0c\u60c5\u51b5\u6b63\u53d8\u5f97\u8d8a\u6765\u8d8a\u6e05\u6670\uff1a\u8fd9\u573a\u5267\u70c8\u7684\u629b\u552e\uff0c\u5f88\u53ef\u80fd\u4e0e\u6bd4\u7279\u5e01 ETF<\/strong> \u6709\u5173\uff0c\u800c\u5f53\u65e5\u672c\u8eab\u4e5f\u662f\u8d44\u672c\u5e02\u573a\u8fd1\u5e74\u6765\u6700\u4e3a\u5267\u70c8\u7684\u4ea4\u6613\u65e5\u4e4b\u4e00\u3002\u6211\u4eec\u4e4b\u6240\u4ee5\u80fd\u591f\u5f97\u51fa\u8fd9\u4e00\u5224\u65ad\uff0c\u662f\u56e0\u4e3a IBIT \u5f53\u5929\u7684\u6210\u4ea4\u91cf\u521b\u4e0b\u5386\u53f2\u65b0\u9ad8\u2014\u2014\u6210\u4ea4\u989d\u8d85\u8fc7 100 \u4ebf\u7f8e\u5143<\/strong>\uff0c\u662f\u6b64\u524d\u6700\u9ad8\u7eaa\u5f55\u7684\u4e24\u500d<\/strong>\uff08\u786e\u5b9e\u662f\u4e00\u4e2a\u60ca\u4eba\u7684\u6570\u5b57\uff09\uff0c\u540c\u65f6\u671f\u6743\u6210\u4ea4\u91cf\u4e5f\u5237\u65b0\u4e86\u7eaa\u5f55\uff08\u89c1\u4e0b\u65b9\u56fe\u8868\uff0c\u4e3a\u8be5 ETF \u81ea\u4e0a\u7ebf\u4ee5\u6765\u7684\u6700\u9ad8\u5408\u7ea6\u6570\u91cf\uff09\u3002\u76f8\u8f83\u4ee5\u5f80\u7565\u663e\u53cd\u5e38\u7684\u662f\uff0c\u4ece\u6210\u4ea4\u91cf\u7ed3\u6784\u6765\u770b\uff0c\u8fd9\u4e00\u6b21\u671f\u6743\u4ea4\u6613\u660e\u663e\u7531\u770b\u8dcc\u671f\u6743\u4e3b\u5bfc\uff0c\u800c\u975e\u770b\u6da8\u671f\u6743<\/strong>\uff08\u5173\u4e8e\u8fd9\u4e00\u70b9\uff0c\u540e\u6587\u8fd8\u4f1a\u8fdb\u4e00\u6b65\u5c55\u5f00\uff09\u3002<\/p>\n

\"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

\"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

\u4e0e\u6b64\u540c\u65f6\uff0c\u5728\u8fc7\u53bb\u51e0\u5468\u91cc\uff0c\u6211\u4eec\u89c2\u5bdf\u5230 IBIT \u7684\u4ef7\u683c\u8d70\u52bf\u4e0e\u8f6f\u4ef6\u7c7b\u80a1\u7968\u4ee5\u53ca\u5176\u4ed6\u98ce\u9669\u8d44\u4ea7\u4e4b\u95f4\u5448\u73b0\u51fa\u6781\u5176\u7d27\u5bc6\u7684\u76f8\u5173\u6027<\/strong>\u3002\u9ad8\u76db\u7684\u4e3b\u7ecf\u7eaa\u4e1a\u52a1\uff08PB\uff09\u56e2\u961f\u4e5f\u53d1\u5e03\u62a5\u544a\u6307\u51fa\uff0c2 \u6708 4 \u65e5\u662f\u591a\u7b56\u7565\u57fa\u91d1\u6709\u8bb0\u5f55\u4ee5\u6765\u8868\u73b0\u6700\u7cdf\u7cd5\u7684\u5355\u65e5\u4e4b\u4e00\uff0c\u5176 Z-score \u9ad8\u8fbe 3.5\u3002\u8fd9\u610f\u5473\u7740\u8fd9\u662f\u4e00\u4e2a\u53d1\u751f\u6982\u7387\u4ec5\u4e3a 0.05% \u7684\u6781\u7aef\u4e8b\u4ef6\uff0c\u7f55\u89c1\u7a0b\u5ea6\u662f 3-sigma \u4e8b\u4ef6\uff08\u7ecf\u5178\u7684\u201c\u9ed1\u5929\u9e45\u201d\u95e8\u69db\uff0c\u6982\u7387\u7ea6\u4e3a 0.27%\uff09\u7684 10 \u500d\u3002\u53ef\u4ee5\u8bf4\uff0c\u8fd9\u662f\u4e00\u6b21\u707e\u96be\u6027\u7684\u51b2\u51fb\u3002\u901a\u5e38\u6b63\u662f\u5728\u8fd9\u79cd\u4e8b\u4ef6\u4e4b\u540e\uff0c\u591a\u7b56\u7565\u57fa\u91d1\uff08pod shop\uff09\u7684\u98ce\u9669\u7ba1\u7406\u4eba\u5458\u4f1a\u8fc5\u901f\u4ecb\u5165\uff0c\u8981\u6c42\u6240\u6709\u4ea4\u6613\u56e2\u961f\u7acb\u523b\u3001\u65e0\u5dee\u522b\u3001\u7d27\u6025\u53bb\u6760\u6746<\/strong>\u3002\u8fd9\u4e5f\u5c31\u89e3\u91ca\u4e86\u4e3a\u4ec0\u4e48 2 \u6708 5 \u65e5\u540c\u6837\u6f14\u53d8\u6210\u4e86\u4e00\u573a\u8840\u6d17\u3002<\/p>\n

\"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

\u5728\u5982\u6b64\u591a\u9879\u7eaa\u5f55\u88ab\u5237\u65b0\u3001\u4e14\u4ef7\u683c\u65b9\u5411\u660e\u786e\u4e0b\u884c\uff08\u5355\u65e5\u4e0b\u8dcc 13.2%\uff09\u7684\u60c5\u51b5\u4e0b\uff0c\u6211\u4eec\u539f\u672c\u9884\u671f\u6781\u6709\u53ef\u80fd\u4f1a\u770b\u5230 ETF \u51fa\u73b0\u51c0\u8d4e\u56de\u3002\u53c2\u8003\u5386\u53f2\u6570\u636e\uff0c\u8fd9\u6837\u7684\u5224\u65ad\u5e76\u4e0d\u7275\u5f3a\uff1a\u4f8b\u5982 1 \u6708 30 \u65e5\uff0cIBIT \u5728\u524d\u4e00\u4ea4\u6613\u65e5\u4e0b\u8dcc 5.8% \u540e\uff0c\u51fa\u73b0\u4e86\u9ad8\u8fbe 5.3 \u4ebf\u7f8e\u5143\u7684\u521b\u7eaa\u5f55\u8d4e\u56de\uff1b\u53c8\u6216\u8005\u5728 2 \u6708 4 \u65e5\uff0cIBIT \u5728\u8fde\u7eed\u4e0b\u8dcc\u80cc\u666f\u4e0b\u51fa\u73b0\u4e86\u7ea6 3.7 \u4ebf\u7f8e\u5143\u7684\u8d4e\u56de\u3002\u56e0\u6b64\uff0c\u5728 2 \u6708 5 \u65e5\u8fd9\u6837\u7684\u5e02\u573a\u73af\u5883\u4e2d\uff0c\u9884\u671f\u81f3\u5c11 5 \u4ebf\u81f3 10 \u4ebf\u7f8e\u5143\u7684\u8d44\u91d1\u6d41\u51fa\uff0c\u662f\u5b8c\u5168\u5408\u7406\u7684\u3002<\/p>\n

\u4f46\u4e8b\u5b9e\u5374\u6070\u6070\u76f8\u53cd\u2014\u2014\u6211\u4eec\u770b\u5230\u7684\u662f\u5e7f\u6cdb\u7684\u51c0\u7533\u8d2d\u3002IBIT \u5f53\u5929\u5927\u7ea6\u65b0\u589e\u4e86 600 \u4e07\u4efd\u989d\uff0c\u5bf9\u5e94\u5e26\u6765\u4e86\u8d85\u8fc7 2.3 \u4ebf\u7f8e\u5143\u7684\u8d44\u4ea7\u7ba1\u7406\u89c4\u6a21\u589e\u957f\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u5176\u4ed6\u6bd4\u7279\u5e01 ETF \u4e5f\u540c\u6837\u5f55\u5f97\u8d44\u91d1\u6d41\u5165\uff0c\u6574\u4e2a ETF \u4f53\u7cfb\u5408\u8ba1\u5438\u5f15\u4e86\u8d85\u8fc7 3 \u4ebf\u7f8e\u5143\u7684\u51c0\u6d41\u5165\u3002<\/strong><\/p>\n

\u8fd9\u4e00\u7ed3\u679c\u591a\u5c11\u4ee4\u4eba\u8d39\u89e3\u3002\u7406\u8bba\u4e0a\uff0c\u53ef\u4ee5\u52c9\u5f3a\u8bbe\u60f3\uff0c2 \u6708 6 \u65e5\u5f3a\u52b2\u7684\u4ef7\u683c\u53cd\u5f39\u5728\u4e00\u5b9a\u7a0b\u5ea6\u4e0a\u524a\u5f31\u4e86\u8d4e\u56de\u538b\u529b\uff0c\u4f46\u8981\u4ece\u201c\u53ef\u80fd\u51cf\u5c11\u6d41\u51fa\u201d\u76f4\u63a5\u8f6c\u53d8\u4e3a\u201c\u51c0\u6d41\u5165\u201d\uff0c\u5219\u5b8c\u5168\u662f\u53e6\u4e00\u56de\u4e8b\u3002\u8fd9\u610f\u5473\u7740\uff0c\u80cc\u540e\u5f88\u53ef\u80fd\u662f\u591a\u79cd\u56e0\u7d20\u540c\u65f6\u53d1\u6325\u4f5c\u7528\uff0c\u4f46\u8fd9\u4e9b\u56e0\u7d20\u5e76\u4e0d\u80fd\u6784\u6210\u4e00\u4e2a\u5355\u4e00\u3001\u7ebf\u6027\u7684\u53d9\u4e8b\u6846\u67b6\u3002\u57fa\u4e8e\u76ee\u524d\u6211\u4eec\u6240\u638c\u63e1\u7684\u4fe1\u606f\uff0c\u53ef\u4ee5\u63d0\u51fa\u82e5\u5e72\u5408\u7406\u7684\u524d\u63d0\u5047\u8bbe\uff0c\u800c\u5728\u8fd9\u4e9b\u5047\u8bbe\u4e4b\u4e0a\uff0c\u6211\u5c06\u7ed9\u51fa\u81ea\u5df1\u7684\u6574\u4f53\u63a8\u8bba\u3002<\/p>\n

\u7b2c\u4e00\uff0c\u6bd4\u7279\u5e01\u7684\u8fd9\u8f6e\u629b\u552e\uff0c\u5f88\u53ef\u80fd\u89e6\u53ca\u4e86\u67d0\u7c7b\u5e76\u975e\u7eaf\u52a0\u5bc6\u539f\u751f\u7684\u591a\u8d44\u4ea7\u6295\u8d44\u7ec4\u5408\u6216\u7b56\u7565<\/strong>\u3002\u8fd9\u65e2\u53ef\u80fd\u662f\u524d\u6587\u63d0\u5230\u7684\u591a\u7b56\u7565\u5bf9\u51b2\u57fa\u91d1\uff0c\u4e5f\u53ef\u80fd\u662f\u7c7b\u4f3c\u8d1d\u83b1\u5fb7\u7684\u6a21\u578b\u6295\u8d44\u7ec4\u5408\u4e1a\u52a1\u90a3\u6837\uff0c\u5728 IBIT \u4e0e IGV\uff08\u8f6f\u4ef6\u7c7b ETF\uff09\u4e4b\u95f4\u8fdb\u884c\u914d\u7f6e\uff0c\u5e76\u5728\u5267\u70c8\u6ce2\u52a8\u4e0b\u88ab\u8feb\u8fdb\u884c\u81ea\u52a8\u518d\u5e73\u8861\u7684\u8d44\u91d1\u3002<\/p>\n

\u7b2c\u4e8c\uff0c\u6bd4\u7279\u5e01\u629b\u552e\u7684\u52a0\u901f\uff0c\u5f88\u53ef\u80fd\u4e0e\u671f\u6743\u5e02\u573a\u6709\u5173\uff0c\u5c24\u5176\u662f\u4e0e\u4e0b\u884c\u65b9\u5411\u76f8\u5173\u7684\u671f\u6743\u7ed3\u6784\u3002<\/p>\n

\u7b2c\u4e09\uff0c\u8fd9\u6b21\u629b\u552e\u5e76\u672a\u6700\u7ec8\u8f6c\u5316\u4e3a\u6bd4\u7279\u5e01\u8d44\u4ea7\u5c42\u9762\u7684\u8d44\u91d1\u5916\u6d41\uff0c\u8fd9\u610f\u5473\u7740\u63a8\u52a8\u884c\u60c5\u7684\u4e3b\u8981\u529b\u91cf\u6765\u81ea\u201c\u7eb8\u9762\u8d44\u91d1\u4f53\u7cfb\u201d\uff0c\u5373\u7531\u4ea4\u6613\u5546\u548c\u505a\u5e02\u5546\u4e3b\u5bfc\u3001\u6574\u4f53\u5904\u4e8e\u5bf9\u51b2\u72b6\u6001\u7684\u5934\u5bf8\u8c03\u6574\u884c\u4e3a\u3002<\/strong><\/p>\n

\u57fa\u4e8e\u4ee5\u4e0a\u4e8b\u5b9e\uff0c\u6211\u76ee\u524d\u7684\u6838\u5fc3\u5047\u8bbe\u5982\u4e0b\u3002<\/p>\n

    \n
  1. \u8fd9\u8f6e\u629b\u552e\u7684\u76f4\u63a5\u50ac\u5316\u5242\uff0c\u662f\u591a\u8d44\u4ea7\u57fa\u91d1\u548c\u6295\u8d44\u7ec4\u5408\u5728\u98ce\u9669\u8d44\u4ea7\u4e0b\u884c\u76f8\u5173\u6027\u8fbe\u5230\u7edf\u8ba1\u5f02\u5e38\u6c34\u5e73\u540e\uff0c\u89e6\u53d1\u7684\u4e00\u6b21\u5e7f\u6cdb\u53bb\u6760\u6746\u3002<\/li>\n
  2. \u8fd9\u4e00\u8fc7\u7a0b\u968f\u5373\u5f15\u53d1\u4e86\u4e00\u8f6e\u6781\u5176\u731b\u70c8\u7684\u53bb\u6760\u6746\uff0c\u5176\u4e2d\u4e5f\u5305\u542b\u4e86\u6bd4\u7279\u5e01\u98ce\u9669\u655e\u53e3\uff0c\u4f46\u5176\u4e2d\u76f8\u5f53\u4e00\u90e8\u5206\u98ce\u9669\u5b9e\u9645\u4e0a\u662f\u5904\u4e8e\u201cDelta \u4e2d\u6027\u201d\u7684\u5bf9\u51b2\u5934\u5bf8\uff0c\u4f8b\u5982\u57fa\u5dee\u4ea4\u6613\u3001\u76f8\u5bf9\u4ef7\u503c\u4ea4\u6613\uff08\u5982\u6bd4\u7279\u5e01\u76f8\u5bf9\u4e8e\u52a0\u5bc6\u80a1\u7968\uff09\uff0c\u4ee5\u53ca\u5176\u4ed6\u901a\u5e38\u7531\u4ea4\u6613\u5546\u4f53\u7cfb\u6765\u201c\u5c01\u7bb1\u201d\u5269\u4f59 Delta \u98ce\u9669\u7684\u7ed3\u6784\u3002<\/li>\n
  3. \u8fd9\u8f6e\u53bb\u6760\u6746\u968f\u540e\u5f15\u53d1\u4e86\u7a7a Gamma \u6548\u5e94\uff0c\u5e76\u8fdb\u4e00\u6b65\u653e\u5927\u4e86\u4e0b\u884c\u538b\u529b\uff0c\u4ece\u800c\u8feb\u4f7f\u4ea4\u6613\u5546\u5356\u51fa IBIT\u3002\u4f46\u7531\u4e8e\u629b\u552e\u6765\u5f97\u8fc7\u4e8e\u731b\u70c8\uff0c\u505a\u5e02\u5546\u4e0d\u5f97\u4e0d\u5728\u4e0d\u8003\u8651\u81ea\u8eab\u5e93\u5b58\u7684\u60c5\u51b5\u4e0b\uff0c\u5bf9\u6bd4\u7279\u5e01\u8fdb\u884c\u51c0\u505a\u7a7a\u64cd\u4f5c\u3002\u8fd9\u4e00\u8fc7\u7a0b\u53cd\u800c\u521b\u9020\u4e86\u65b0\u7684 ETF \u5e93\u5b58\uff0c\u4ece\u800c\u964d\u4f4e\u4e86\u5e02\u573a\u539f\u672c\u5bf9\u5927\u89c4\u6a21\u8d44\u91d1\u5916\u6d41\u7684\u9884\u671f\u3002<\/li>\n<\/ol>\n

    \u968f\u540e\uff0c\u5728 2 \u6708 6 \u65e5\uff0c\u6211\u4eec\u89c2\u5bdf\u5230 IBIT \u51fa\u73b0\u4e86\u6b63\u5411\u8d44\u91d1\u6d41\u5165\uff0c\u4e00\u4e9b IBIT \u4e70\u5bb6\uff08\u95ee\u9898\u5728\u4e8e\uff0c\u8fd9\u4e9b\u4e70\u5bb6\u7a76\u7adf\u5c5e\u4e8e\u54ea\u4e00\u7c7b\uff09\u9009\u62e9\u5728\u4e0b\u8dcc\u540e\u9022\u4f4e\u914d\u7f6e<\/strong>\uff0c\u8fd9\u8fdb\u4e00\u6b65\u62b5\u6d88\u4e86\u539f\u672c\u53ef\u80fd\u51fa\u73b0\u7684\u5c0f\u5e45\u51c0\u6d41\u51fa\u3002<\/p>\n

    \u9996\u5148\uff0c\u6211\u4e2a\u4eba\u503e\u5411\u4e8e\u8ba4\u4e3a\uff0c\u8fd9\u6b21\u4e8b\u4ef6\u7684\u521d\u59cb\u50ac\u5316\u56e0\u7d20\u6765\u81ea\u8f6f\u4ef6\u7c7b\u80a1\u7968\u7684\u629b\u552e\uff0c\u5c24\u5176\u662f\u8003\u8651\u5230\u6bd4\u7279\u5e01\u4e0e\u8f6f\u4ef6\u80a1\u4e4b\u95f4\u6240\u5448\u73b0\u51fa\u7684\u9ad8\u5ea6\u76f8\u5173\u6027\uff0c\u751a\u81f3\u9ad8\u4e8e\u5176\u4e0e\u9ec4\u91d1\u4e4b\u95f4\u7684\u76f8\u5173\u6027\u3002<\/strong>\u8bf7\u53c2\u8003\u4e0b\u65b9\u4e24\u5f20\u56fe\u8868\u3002<\/p>\n

    \"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

    \"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

    \u8fd9\u4e00\u70b9\u5728\u903b\u8f91\u4e0a\u662f\u6210\u7acb\u7684\uff0c\u56e0\u4e3a\u9ec4\u91d1\u901a\u5e38\u5e76\u4e0d\u662f\u53c2\u4e0e\u878d\u8d44\u4ea4\u6613\u7684\u591a\u7b56\u7565\u57fa\u91d1\u6240\u5927\u91cf\u6301\u6709\u7684\u8d44\u4ea7\uff0c\u5c3d\u7ba1\u5b83\u53ef\u80fd\u51fa\u73b0\u5728 RIA \u6a21\u578b\u6295\u8d44\u7ec4\u5408\u4e2d\uff08\u4e00\u5957\u9884\u5148\u8bbe\u8ba1\u597d\u7684\u8d44\u4ea7\u914d\u7f6e\u65b9\u6848\uff09\u3002\u56e0\u6b64\uff0c\u5728\u6211\u770b\u6765\uff0c\u8fd9\u8fdb\u4e00\u6b65\u5370\u8bc1\u4e86\u8fd9\u6837\u4e00\u4e2a\u5224\u65ad\uff1a\u672c\u8f6e\u52a8\u8361\u7684\u4e2d\u5fc3\uff0c\u66f4\u53ef\u80fd\u4f4d\u4e8e\u591a\u7b56\u7565\u57fa\u91d1\u4f53\u7cfb\u4e4b\u4e2d\u3002<\/strong><\/p>\n

    \u800c\u7b2c\u4e8c\u4e2a\u5224\u65ad\u4e5f\u56e0\u6b64\u663e\u5f97\u66f4\u52a0\u5408\u7406\uff0c\u5373\u8fd9\u6b21\u731b\u70c8\u7684\u53bb\u6760\u6746\u8fc7\u7a0b\uff0c\u786e\u5b9e\u5305\u542b\u4e86\u5904\u4e8e\u5bf9\u51b2\u72b6\u6001\u4e0b\u7684\u6bd4\u7279\u5e01\u98ce\u9669<\/strong>\u3002\u4ee5 CME \u6bd4\u7279\u5e01\u57fa\u5dee\u4ea4\u6613\u4e3a\u4f8b\uff0c\u8fd9\u662f\u591a\u7b56\u7565\u57fa\u91d1\u957f\u671f\u4ee5\u6765\u6700\u4e3a\u504f\u597d\u7684\u4ea4\u6613\u7b56\u7565\u4e4b\u4e00\u3002<\/p>\n

    \"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

    \u4ece 1 \u6708 26 \u65e5\u81f3\u6628\u65e5\u7684\u5b8c\u6574\u6570\u636e\u6765\u770b\uff0c\u6db5\u76d6 30\u300160\u300190\u3001120 \u5929\u671f\u9650\u7684 CME \u6bd4\u7279\u5e01\u57fa\u5dee\u8d70\u52bf\uff08\u611f\u8c22\u4e1a\u5185\u9876\u7ea7\u7814\u7a76\u8005 @dlawant \u63d0\u4f9b\u7684\u6570\u636e\uff09\uff0c\u53ef\u4ee5\u6e05\u695a\u770b\u5230\uff0c\u8fd1\u6708\u57fa\u5dee\u5728 2 \u6708 5 \u65e5\u4ece 3.3% \u8dc3\u5347\u81f3\u9ad8\u8fbe 9%\u3002\u8fd9\u662f\u81ea ETF \u4e0a\u7ebf\u4ee5\u6765\uff0c\u6211\u4eec\u4e2a\u4eba\u5728\u5e02\u573a\u4e2d\u6240\u89c2\u5bdf\u5230\u7684\u6700\u5927\u5e45\u5ea6\u8df3\u5347\u4e4b\u4e00\uff0c\u8fd9\u51e0\u4e4e\u660e\u786e\u6307\u5411\u4e00\u4e2a\u7ed3\u8bba\uff1a\u57fa\u5dee\u4ea4\u6613\u5728\u6307\u4ee4\u4e0b\u88ab\u5927\u89c4\u6a21\u5f3a\u5236\u5e73\u4ed3\u3002<\/p>\n

    \u4e0d\u59a8\u8bbe\u60f3\u4e00\u4e0b\u50cf Millennium\u3001Citadel \u8fd9\u6837\u7684\u673a\u6784\uff0c\u88ab\u8feb\u5f3a\u884c\u5e73\u6389\u57fa\u5dee\u4ea4\u6613\u5934\u5bf8<\/strong>\uff08\u5356\u51fa\u73b0\u8d27\u3001\u4e70\u5165\u671f\u8d27\uff09\u3002\u8003\u8651\u5230\u5b83\u4eec\u5728\u6bd4\u7279\u5e01 ETF \u4f53\u7cfb\u4e2d\u6240\u5360\u636e\u7684\u4f53\u91cf\uff0c\u5c31\u4e0d\u96be\u7406\u89e3\u8fd9\u4e00\u64cd\u4f5c\u4e3a\u4f55\u4f1a\u5bf9\u6574\u4f53\u5e02\u573a\u7ed3\u6784\u9020\u6210\u5267\u70c8\u51b2\u51fb\u3002\u6211\u6b64\u524d\u4e5f\u66fe\u5c31\u8fd9\u4e00\u70b9\u5199\u4e0b\u8fc7\u81ea\u5df1\u7684\u63a8\u6f14\u3002<\/p>\n

    Odaily\u661f\u7403\u65e5\u62a5\u8865\u5145\uff1a\u76ee\u524d\u5927\u91cf\u8fd9\u79cd\u4e0d\u52a0\u533a\u5206\u7684\u7f8e\u56fd\u672c\u571f\u629b\u552e\uff0c\u5f88\u53ef\u80fd\u6765\u81ea\u591a\u7b56\u7565\u5bf9\u51b2\u57fa\u91d1\u3002\u8fd9\u4e9b\u57fa\u91d1\u5f80\u5f80\u91c7\u7528 delta \u5bf9\u51b2\u7b56\u7565\uff0c\u6216\u8005\u8fd0\u884c\u67d0\u79cd\u76f8\u5bf9\u4ef7\u503c\uff08RV\uff09\u6216\u56e0\u5b50\u4e2d\u6027\u4ea4\u6613\uff0c\u800c\u8fd9\u4e9b\u4ea4\u6613\u76ee\u524d\u6b63\u5728\u6269\u5927\u4ef7\u5dee\uff0c\u53ef\u80fd\u8fd8\u4f34\u968f\u6210\u957f\u80a1\u80a1\u6743\u76f8\u5173\u6027\u6ea2\u51fa\u3002<\/em><\/p>\n

    \u7c97\u7565\u4f30\u7b97\u4e00\u4e0b\uff1a\u6bd4\u7279\u5e01 ETF \u4e2d\u7ea6 1\/3 \u7531\u673a\u6784\u7c7b\u578b\u6301\u6709\uff0c\u800c\u5176\u4e2d\u5927\u7ea6 50%\uff08\u53ef\u80fd\u66f4\u591a\uff09\u88ab\u8ba4\u4e3a\u662f\u5bf9\u51b2\u57fa\u91d1\u6301\u6709\u7684\u3002\u8fd9\u662f\u4e00\u7b14\u76f8\u5f53\u53ef\u89c2\u7684\u5feb\u94b1\u6d41\u52a8\uff0c\u4e00\u65e6\u878d\u8d44\u6210\u672c\u6216\u4fdd\u8bc1\u91d1\u8981\u6c42\u5728\u5f53\u524d\u9ad8\u6ce2\u52a8\u73af\u5883\u4e2d\u4e0a\u5347\uff0c\u98ce\u9669\u7ba1\u7406\u4eba\u5458\u4ecb\u5165\u5e72\u9884\uff0c\u8fd9\u4e9b\u8d44\u91d1\u5c31\u5f88\u5bb9\u6613\u6295\u964d\u5f0f\u6e05\u4ed3\uff0c\u5c24\u5176\u5f53\u57fa\u5dee\u6536\u76ca\u4e0d\u518d\u503c\u5f97\u627f\u62c5\u7684\u98ce\u9669\u6ea2\u4ef7\u65f6\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4eca\u5929 MSTR \u7684\u7f8e\u5143\u6210\u4ea4\u989d\u662f\u5176\u5386\u53f2\u4e0a\u6700\u9ad8\u4e4b\u4e00\u3002<\/em><\/p>\n

    \u8fd9\u5c31\u662f\u4e3a\u4ec0\u4e48\u5bf9\u51b2\u57fa\u91d1\u6700\u5bb9\u6613\u5012\u95ed\u7684\u6700\u5927\u56e0\u7d20\u662f\u81ed\u540d\u662d\u8457\u7684\u201c\u5171\u540c\u6301\u6709\u4eba\u98ce\u9669\u201d\uff1a\u591a\u4e2a\u770b\u4f3c\u72ec\u7acb\u7684\u57fa\u91d1\u6301\u6709\u9ad8\u5ea6\u76f8\u4f3c\u7684\u655e\u53e3\uff0c\u5f53\u5e02\u573a\u4e0b\u884c\u65f6\uff0c<\/em>\u6240\u6709\u4eba\u540c\u65f6\u6d8c\u5411\u540c\u4e00\u4e2a\u72ed\u7a84\u51fa\u53e3<\/em><\/strong>\uff0c\u5bfc\u81f4\u6240\u6709\u4e0b\u884c\u76f8\u5173\u6027\u8d8b\u5411\u4e8e 1\u3002\u5728\u5f53\u524d\u6d41\u52a8\u6027\u5982\u6b64\u5dee\u7684\u60c5\u51b5\u4e0b\u5356\u51fa\uff0c\u6b63\u662f\u5178\u578b\u7684\u201c\u5173\u95ed\u98ce\u9669\u201d\u884c\u4e3a\uff0c\u6211\u4eec\u4eca\u5929\u6b63\u5728\u770b\u5230\u8fd9\u79cd\u73b0\u8c61\u3002\u6700\u7ec8\u8fd9\u4f1a\u5728 ETF \u8d44\u91d1\u6d41\u6570\u636e\u4e2d\u4f53\u73b0\u51fa\u6765\u3002\u5982\u679c\u8fd9\u4e2a\u5047\u8bbe\u6210\u7acb\uff0c\u7b49\u8fd9\u4e00\u5207\u6e05\u7b97\u7ed3\u675f\u540e\uff0c\u6211\u6000\u7591\u4ef7\u683c\u4f1a\u91cd\u65b0\u5feb\u901f\u5b9a\u4ef7\uff0c\u4e0d\u8fc7\u4e4b\u540e<\/em>\u91cd\u5efa\u4fe1\u5fc3\u8fd8\u662f\u9700\u8981\u4e00\u4e9b\u65f6\u95f4<\/em><\/strong>\u3002<\/em><\/p>\n

    \u8fd9\u4fbf\u5f15\u51fa\u4e86\u7b2c\u4e09\u6761\u7ebf\u7d22\u3002\u65e2\u7136\u6211\u4eec\u5df2\u7ecf\u7406\u89e3\u4e86\u5728\u5e7f\u6cdb\u53bb\u6760\u6746\u80cc\u666f\u4e0b\uff0cIBIT \u4e3a\u4f55\u4f1a\u88ab\u629b\u552e\uff0c\u90a3\u4e48\u95ee\u9898\u5c31\u53d8\u6210\uff1a\u7a76\u7adf\u662f\u4ec0\u4e48\u5728\u52a0\u901f\u4e0b\u884c\uff1f\u4e00\u4e2a\u53ef\u80fd\u7684\u201c\u52a9\u71c3\u5242\u201d\u662f\u7ed3\u6784\u6027\u4ea7\u54c1\u3002\u5c3d\u7ba1\u6211\u5e76\u4e0d\u8ba4\u4e3a\u7ed3\u6784\u6027\u4ea7\u54c1\u5e02\u573a\u7684\u89c4\u6a21\u8db3\u4ee5\u5355\u72ec\u5f15\u53d1\u8fd9\u573a\u629b\u552e\uff0c\u4f46\u5f53\u6240\u6709\u56e0\u7d20\u4ee5\u4e00\u79cd\u8d85\u51fa\u4efb\u4f55 VaR\uff08\u98ce\u9669\u4ef7\u503c\uff09 \u6a21\u578b\u9884\u671f\u7684\u65b9\u5f0f\u5f02\u5e38\u4e14\u5b8c\u7f8e\u5730\u540c\u65f6\u5bf9\u9f50\u65f6\uff0c\u5b83\u4eec\u5b8c\u5168\u6709\u53ef\u80fd\u6210\u4e3a\u89e6\u53d1\u8fde\u9501\u6e05\u7b97\u884c\u4e3a\u7684\u6025\u6027\u4e8b\u4ef6\u3002<\/p>\n

    \u8fd9\u8ba9\u6211\u7acb\u523b\u56de\u60f3\u8d77\u81ea\u5df1\u5728\u6469\u6839\u58eb\u4e39\u5229\u5de5\u4f5c\u7684\u7ecf\u5386\u3002\u5728\u90a3\u91cc\uff0c\u5e26\u6709\u6572\u5165\u770b\u8dcc\u969c\u788d\uff08\u53ea\u6709\u5f53\u6807\u7684\u8d44\u4ea7\u4ef7\u683c\u89e6\u53ca\/\u7a7f\u8d8a\u7279\u5b9a\u969c\u788d\u6c34\u5e73\u65f6\uff0c\u671f\u6743\u624d\u201c\u6fc0\u6d3b\u201d\u6210\u4e3a\u6709\u6548\u7684\u770b\u8dcc\u671f\u6743\uff09\u7684\u7ed3\u6784\u6027\u4ea7\u54c1\uff0c\u5f80\u5f80\u4f1a\u9020\u6210\u6781\u5177\u7834\u574f\u6027\u7684\u540e\u679c\u3002\u5728\u67d0\u4e9b\u60c5\u51b5\u4e0b\uff0c\u671f\u6743 Delta \u7684\u53d8\u5316\u5e45\u5ea6\u751a\u81f3\u4f1a\u8d85\u8fc7 1\uff0c\u800c\u8fd9\u662f Black-Scholes \u6a21\u578b\u751a\u81f3\u6839\u672c\u6ca1\u6709\u8003\u8651\u5230\u7684\u73b0\u8c61\u2014\u2014\u56e0\u4e3a\u5728\u6807\u51c6 Black-Scholes \u6846\u67b6\u4e0b\uff0c\u5bf9\u4e8e\u666e\u901a\u7684\u9999\u8349\u671f\u6743\uff08\u6700\u57fa\u7840\u7684\u6b27\u5f0f\u770b\u6da8\/\u770b\u8dcc\u671f\u6743\uff09\uff0c\u671f\u6743\u7684 delta \u6c38\u8fdc\u4e0d\u53ef\u80fd\u8d85\u8fc7 1<\/p>\n

    \u4ee5\u6469\u6839\u5927\u901a\u53bb\u5e74 11 \u6708\u5b9a\u4ef7\u7684\u4e00\u53ea\u7968\u636e\u4e3a\u4f8b\uff0c\u53ef\u4ee5\u770b\u5230\u5176\u6572\u5165\u969c\u788d\u4f4d\u6b63\u597d\u8bbe\u5728 43.6\u3002\u5982\u679c\u8fd9\u4e9b\u7968\u636e\u5728 12 \u6708\u7ee7\u7eed\u53d1\u884c\uff0c\u800c\u6bd4\u7279\u5e01\u4ef7\u683c\u53c8\u4e0b\u8dcc\u4e86 10%\uff0c\u90a3\u4e48\u53ef\u4ee5\u60f3\u8c61\uff0c\u5728 38\u201339 \u533a\u95f4\u5c06\u5806\u79ef\u5927\u91cf\u6572\u5165\u969c\u788d\uff0c\u8fd9\u6b63\u662f\u6240\u8c13\u7684\u201c\u98ce\u66b4\u773c\u201d\u3002<\/p>\n

    \"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

    \u5728\u8fd9\u4e9b\u969c\u788d\u88ab\u51fb\u7a7f\u7684\u60c5\u51b5\u4e0b\uff0c\u5982\u679c\u4ea4\u6613\u5546\u662f\u901a\u8fc7\u5356\u51fa\u770b\u8dcc\u671f\u6743\u7b49\u65b9\u5f0f\u6765\u5bf9\u51b2\u6572\u5165\u98ce\u9669\uff0c\u90a3\u4e48\u5728\u8d1f Vanna \u52a8\u6001\u4e0b\uff0cGamma \u7684\u53d8\u5316\u901f\u5ea6\u4f1a\u6781\u5176\u8fc5\u731b\u3002\u6b64\u65f6\uff0c\u4f5c\u4e3a\u4ea4\u6613\u5546\uff0c\u552f\u4e00\u53ef\u884c\u7684\u5e94\u5bf9\u65b9\u5f0f\u5c31\u662f\u5728\u5e02\u573a\u8d70\u5f31\u65f6\u6fc0\u8fdb\u5730\u5356\u51fa\u6807\u7684\u8d44\u4ea7<\/strong>\u3002\u8fd9\u6b63\u662f\u6211\u4eec\u6240\u89c2\u5bdf\u5230\u7684\u60c5\u5f62\uff1a\u9690\u542b\u6ce2\u52a8\u7387\uff08IV\uff09\u5d29\u584c\u81f3\u63a5\u8fd1 90% \u7684\u5386\u53f2\u6781\u503c\uff0c\u51e0\u4e4e\u8fbe\u5230\u707e\u96be\u7ea7\u522b\u7684\u6324\u538b\u72b6\u6001\uff0c\u5728\u8fd9\u79cd\u60c5\u51b5\u4e0b\uff0c\u4ea4\u6613\u5546\u4e0d\u5f97\u4e0d\u5c06 IBIT \u7684\u7a7a\u5934\u89c4\u6a21\u6269\u5927\u81f3\u6700\u7ec8\u521b\u9020\u51fa\u51c0\u65b0\u589e ETF \u4efd\u989d\u7684\u7a0b\u5ea6\u3002\u8fd9\u4e00\u90e8\u5206\u786e\u5b9e\u9700\u8981\u4e00\u5b9a\u7a0b\u5ea6\u7684\u63a8\u6f14\u7a7a\u95f4\uff0c\u5728\u7f3a\u4e4f\u66f4\u8be6\u7ec6\u4ef7\u5dee\u6570\u636e\u7684\u60c5\u51b5\u4e0b\u4e5f\u96be\u4ee5\u5b8c\u5168\u786e\u8ba4\uff0c\u4f46\u8003\u8651\u5230\u5f53\u65e5\u521b\u7eaa\u5f55\u7684\u6210\u4ea4\u91cf\uff0c\u4ee5\u53ca\u6388\u6743\u53c2\u4e0e\u4eba\uff08AP\uff09\u6df1\u5ea6\u53c2\u4e0e\u5176\u4e2d\uff0c\u8fd9\u79cd\u60c5\u51b5\u5b8c\u5168\u662f\u6709\u53ef\u80fd\u53d1\u751f\u7684\u3002<\/p>\n

    \u5c06\u8fd9\u4e00\u8d1f Vanna \u52a8\u6001\u4e0e\u53e6\u4e00\u4e2a\u4e8b\u5b9e\u7ed3\u5408\u8d77\u6765\u770b\uff0c\u903b\u8f91\u4f1a\u66f4\u52a0\u6e05\u6670\u3002\u7531\u4e8e\u6b64\u524d\u4e00\u6bb5\u65f6\u95f4\u6574\u4f53\u6ce2\u52a8\u7387\u504f\u4f4e\uff0c\u52a0\u5bc6\u539f\u751f\u5e02\u573a\u7684\u5ba2\u6237\u5728\u8fc7\u53bb\u51e0\u5468\u4e2d\u666e\u904d\u503e\u5411\u4e8e\u4e70\u5165\u770b\u8dcc\u671f\u6743\u3002\u8fd9\u610f\u5473\u7740\uff0c\u52a0\u5bc6\u4ea4\u6613\u5546\u672c\u8eab\u5c31\u5904\u4e8e\u5929\u7136\u7684\u7a7a Gamma \u72b6\u6001\uff0c\u800c\u4e14\u5728\u5b9a\u4ef7\u4e0a\u4f4e\u4f30\u4e86\u672a\u6765\u53ef\u80fd\u51fa\u73b0\u7684\u8d85\u5e45\u6ce2\u52a8\u3002\u5f53\u771f\u6b63\u7684\u5927\u5e45\u884c\u60c5\u51fa\u73b0\u65f6\uff0c\u8fd9\u79cd\u7ed3\u6784\u6027\u5931\u8861\u8fdb\u4e00\u6b65\u653e\u5927\u4e86\u4e0b\u884c\u538b\u529b\u3002\u4e0b\u65b9\u7684\u4ed3\u4f4d\u5206\u5e03\u56fe\u4e5f\u6e05\u695a\u5730\u663e\u793a\u4e86\u8fd9\u4e00\u70b9\uff0c\u5728 6.4 \u4e07\u81f3 7.1 \u4e07\u7f8e\u5143\u533a\u95f4\uff0c\u4ea4\u6613\u5546\u4e3b\u8981\u96c6\u4e2d\u5728\u770b\u8dcc\u671f\u6743\u7684\u7a7a Gamma \u5934\u5bf8\u4e0a\u3002<\/p>\n

    \"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

    \"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

    \u8fd9\u4fbf\u5c06\u6211\u4eec\u5e26\u56de\u5230 2 \u6708 6 \u65e5\uff0c\u5f53\u5929\u6bd4\u7279\u5e01\u5b8c\u6210\u4e86\u4e00\u6b21\u8d85\u8fc7 10% \u7684\u5f3a\u52bf\u53cd\u5f39\u3002\u6b64\u65f6\uff0c\u4e00\u4e2a\u503c\u5f97\u6ce8\u610f\u7684\u73b0\u8c61\u662f\uff0cCME \u7684\u672a\u5e73\u4ed3\u5408\u7ea6\uff08OI\uff09\u6269\u5f20\u901f\u5ea6\u660e\u663e\u5feb\u4e8e\u5e01\u5b89\uff08\u540c\u6837\u611f\u8c22 @dlawant \u5c06\u5c0f\u65f6\u7ea7\u6570\u636e\u5bf9\u9f50\u81f3\u7f8e\u4e1c\u65f6\u95f4\u4e0b\u5348 4 \u70b9\uff09<\/em>\u3002\u4ece 2 \u6708 4 \u65e5\u5230 5 \u65e5\uff0c\u53ef\u4ee5\u6e05\u695a\u770b\u5230 CME OI \u7684\u660e\u663e\u574d\u584c\uff0c\u8fd9\u518d\u6b21\u5370\u8bc1\u4e86\u57fa\u5dee\u4ea4\u6613\u5728 2 \u6708 5 \u65e5\u88ab\u5927\u89c4\u6a21\u5e73\u4ed3\u7684\u5224\u65ad\uff1b\u800c\u5728 2 \u6708 6 \u65e5\uff0c\u8fd9\u90e8\u5206\u5934\u5bf8\u53ef\u80fd\u91cd\u65b0\u5efa\u7acb\uff0c\u4ee5\u5229\u7528\u66f4\u9ad8\u7684\u57fa\u5dee\u6c34\u5e73\uff0c\u4ece\u800c\u62b5\u6d88\u4e86\u8d44\u91d1\u6d41\u51fa\u7684\u5f71\u54cd\u3002<\/p>\n

    \"CME\u57fa\u5dee\u4ea4\u6613\"<\/p>\n

    \u81f3\u6b64\uff0c\u6574\u4e2a\u903b\u8f91\u94fe\u6761\u91cd\u65b0\u95ed\u5408\uff1aIBIT \u5728\u7533\u8d2d\u4e0e\u8d4e\u56de\u5c42\u9762\u5927\u4f53\u6301\u5e73\uff0c\u56e0\u4e3a CME \u57fa\u5dee\u4ea4\u6613\u5df2\u7ecf\u6062\u590d\uff1b\u4f46\u4ef7\u683c\u4ecd\u7136\u504f\u4f4e\uff0c\u662f\u56e0\u4e3a\u5e01\u5b89\u7684 OI \u51fa\u73b0\u4e86\u660e\u663e\u574d\u584c\uff0c\u8fd9\u610f\u5473\u7740\u76f8\u5f53\u4e00\u90e8\u5206\u53bb\u6760\u6746\u538b\u529b\u6765\u81ea\u52a0\u5bc6\u539f\u751f\u5e02\u573a\u4e2d\u7684\u7a7a Gamma \u5934\u5bf8\u4e0e\u5f3a\u5e73\u884c\u4e3a\u3002<\/strong><\/p>\n

    \u4ee5\u4e0a\uff0c\u4fbf\u662f\u6211\u5bf9 2 \u6708 5 \u65e5\u53ca\u5176\u540e 2 \u6708 6 \u65e5\u5e02\u573a\u8868\u73b0\u7684\u6700\u4f73\u89e3\u91ca\u3002\u8fd9\u4e00\u63a8\u6f14\u5efa\u7acb\u5728\u82e5\u5e72\u5047\u8bbe\u4e4b\u4e0a\uff0c\u4e5f\u5e76\u4e0d\u5b8c\u5168\u4ee4\u4eba\u6ee1\u610f\uff0c\u56e0\u4e3a\u5b83\u5e76\u6ca1\u6709\u4e00\u4e2a\u660e\u786e\u7684\u201c\u7f6a\u9b41\u7978\u9996\u201d\u53ef\u4ee5\u6307\u8d23\uff08\u4f8b\u5982 FTX \u4e8b\u4ef6\u90a3\u6837\uff09\u3002\u4f46\u6838\u5fc3\u7ed3\u8bba\u662f\u8fd9\u6837\u7684\uff1a\u672c\u8f6e\u629b\u552e\u7684\u5bfc\u706b\u7d22\u6765\u81ea\u975e\u52a0\u5bc6\u9886\u57df\u7684\u4f20\u7edf\u91d1\u878d\u53bb\u98ce\u9669\u884c\u4e3a\uff0c\u800c\u8fd9\u4e00\u8fc7\u7a0b\u6070\u597d\u5c06\u6bd4\u7279\u5e01\u4ef7\u683c\u63a8\u81f3\u4e00\u4e2a\u7a7a Gamma \u5bf9\u51b2\u884c\u4e3a\u4f1a\u52a0\u901f\u4e0b\u884c\u7684\u533a\u95f4\u3002\u8fd9\u79cd\u4e0b\u8dcc\u5e76\u975e\u7531\u65b9\u5411\u6027\u770b\u7a7a\u6240\u9a71\u52a8\uff0c\u800c\u662f\u7531\u5bf9\u51b2\u9700\u6c42\u89e6\u53d1\uff0c\u5e76\u6700\u7ec8\u5728 2 \u6708 6 \u65e5\u8fc5\u901f\u53cd\u8f6c\uff08\u9057\u61be\u7684\u662f\uff0c\u8fd9\u79cd\u53cd\u8f6c\u4e3b\u8981\u60e0\u53ca\u4f20\u7edf\u91d1\u878d\u4e2d\u7684\u5e02\u573a\u4e2d\u6027\u8d44\u91d1\uff0c\u800c\u975e\u52a0\u5bc6\u539f\u751f\u7684\u65b9\u5411\u6027\u7b56\u7565\uff09\u3002<\/strong>\u5c3d\u7ba1\u8fd9\u4e00\u7ed3\u8bba\u672a\u5fc5\u4ee4\u4eba\u5174\u594b\uff0c\u4f46\u81f3\u5c11\u53ef\u4ee5\u8ba9\u4eba\u7a0d\u611f\u5b89\u5fc3\u7684\u662f\uff1a\u524d\u4e00\u65e5\u7684\u629b\u552e\uff0c\u5f88\u53ef\u80fd\u4e0e 10\/10 \u4e8b\u4ef6\u5e76\u65e0\u5173\u7cfb<\/strong>\u3002<\/p>\n

    \u662f\u7684\uff0c\u6211\u5e76\u4e0d\u8ba4\u4e3a\u4e0a\u5468\u53d1\u751f\u7684\u60c5\u51b5\u662f 10\/10 \u53bb\u6760\u6746\u8fc7\u7a0b\u7684\u5ef6\u7eed\u3002\u6211\u66fe\u8bfb\u5230\u4e00\u7bc7\u6587\u7ae0\uff0c\u6697\u793a\u8fd9\u573a\u52a8\u8361\u53ef\u80fd\u6e90\u81ea\u4e00\u5bb6\u975e\u7f8e\u56fd\u3001\u603b\u90e8\u4f4d\u4e8e\u9999\u6e2f\u7684\u57fa\u91d1\uff0c\u5176\u53c2\u4e0e\u4e86\u65e5\u5143\u5957\u606f\u4ea4\u6613\u5e76\u6700\u7ec8\u5931\u8d25\u3002\u4f46\u8fd9\u4e00\u7406\u8bba\u5b58\u5728\u4e24\u4e2a\u660e\u663e\u6f0f\u6d1e\u3002\u7b2c\u4e00\uff0c\u6211\u5e76\u4e0d\u76f8\u4fe1\u4f1a\u6709\u4e00\u5bb6\u975e\u52a0\u5bc6\u4e3b\u7ecf\u7eaa\u884c\uff0c\u613f\u610f\u4e3a\u5982\u6b64\u590d\u6742\u7684\u591a\u8d44\u4ea7\u4ea4\u6613\u63d0\u4f9b\u670d\u52a1\uff0c\u540c\u65f6\u8fd8\u7ed9\u4e88\u957f\u8fbe 90 \u5929\u7684\u4fdd\u8bc1\u91d1\u7f13\u51b2\uff0c\u800c\u5728\u98ce\u9669\u6846\u67b6\u6536\u7d27\u65f6\u8fd8\u672a\u63d0\u524d\u9677\u5165\u8d44\u4e0d\u62b5\u503a\u7684\u72b6\u6001\u3002\u7b2c\u4e8c\uff0c\u5982\u679c\u5957\u606f\u8d44\u91d1\u662f\u901a\u8fc7\u8d2d\u4e70 IBIT \u671f\u6743\u6765\u201c\u8131\u56f0\u201d\uff0c\u90a3\u4e48\u6bd4\u7279\u5e01\u4ef7\u683c\u4e0b\u8dcc\u672c\u8eab\u5e76\u4e0d\u4f1a\u52a0\u901f\u98ce\u9669\u91ca\u653e\u2014\u2014\u8fd9\u4e9b\u671f\u6743\u53ea\u4f1a\u53d8\u6210\u4ef7\u5916\uff0c\u5176\u5e0c\u814a\u503c\u8fc5\u901f\u5f52\u96f6\u3002\u8fd9\u610f\u5473\u7740\uff0c\u8fd9\u7b14\u4ea4\u6613\u672c\u8eab\u5fc5\u987b\u5305\u542b\u771f\u5b9e\u7684\u4e0b\u884c\u98ce\u9669\u3002\u5982\u679c\u6709\u4eba\u4e00\u8fb9\u505a\u591a\u7f8e\u5143\/\u65e5\u5143\u5957\u606f\uff0c\u4e00\u8fb9\u5356\u51fa IBIT \u770b\u8dcc\u671f\u6743\uff0c\u90a3\u4e48\u8fd9\u6837\u7684\u4e3b\u7ecf\u7eaa\u884c\uff0c\u5766\u7387\u8bf4\uff0c\u6839\u672c\u4e0d\u914d\u7ee7\u7eed\u5b58\u5728\u3002<\/p>\n

    \u63a5\u4e0b\u6765\u7684\u51e0\u5929\u5c06\u6781\u5176\u5173\u952e\uff0c\u56e0\u4e3a\u6211\u4eec\u5c06\u83b7\u5f97\u66f4\u591a\u6570\u636e\uff0c\u4ee5\u5224\u65ad\u6295\u8d44\u8005\u662f\u5426\u6b63\u5728\u5229\u7528\u8fd9\u6b21\u4e0b\u8dcc\u5efa\u7acb\u65b0\u7684\u9700\u6c42\uff0c\u5982\u679c\u786e\u5b9e\u5982\u6b64\uff0c\u90a3\u5c06\u662f\u4e00\u4e2a\u975e\u5e38\u770b\u6da8\u7684\u4fe1\u53f7\u3002<\/strong>\u5c31\u76ee\u524d\u800c\u8a00\uff0c\u6211\u5bf9 ETF \u6f5c\u5728\u7684\u8d44\u91d1\u6d41\u5165\u611f\u5230\u76f8\u5f53\u632f\u594b\u3002\u6211\u4f9d\u7136\u575a\u4fe1\uff0c\u771f\u6b63\u7684 RIA \u98ce\u683c ETF \u4e70\u5bb6\uff08\u800c\u975e\u76f8\u5bf9\u4ef7\u503c\u578b\u5bf9\u51b2\u57fa\u91d1\uff09\u90fd\u662f\u773c\u5149\u72ec\u5230\u7684\u6295\u8d44\u8005\uff0c\u800c\u5728\u673a\u6784\u5c42\u9762\uff0c\u6211\u4eec\u6b63\u5728\u770b\u5230\u5927\u91cf\u771f\u5b9e\u800c\u6df1\u523b\u7684\u8fdb\u5c55\uff0c\u8fd9\u4e00\u70b9\u5728\u6574\u4e2a\u884c\u4e1a\u7684\u63a8\u8fdb\u8fc7\u7a0b\u4e2d\uff0c\u4ee5\u53ca\u6211\u5728 Bitwise \u7684\u670b\u53cb\u4eec\u90a3\u91cc\uff0c\u90fd\u4f53\u73b0\u5f97\u5341\u5206\u660e\u663e\u3002\u4e3a\u6b64\uff0c\u6211\u91cd\u70b9\u5173\u6ce8\u7684\u662f\u90a3\u4e9b\u5e76\u672a\u4f34\u968f\u57fa\u5dee\u4ea4\u6613\u6269\u5f20\u7684\u51c0\u8d44\u91d1\u6d41\u5165\u3002<\/p>\n

    \u6700\u540e\uff0c\u8fd9\u4e00\u5207\u4e5f\u518d\u6b21\u8868\u660e\uff0c\u6bd4\u7279\u5e01\u5df2\u7ecf\u4ee5\u4e00\u79cd\u6781\u5176\u590d\u6742\u3001\u6210\u719f\u7684\u65b9\u5f0f\uff0c\u878d\u5165\u4e86\u5168\u7403\u91d1\u878d\u8d44\u672c\u5e02\u573a\u3002\u8fd9\u4e5f\u610f\u5473\u7740\uff0c\u5f53\u5e02\u573a\u672a\u6765\u7ad9\u5728\u53cd\u5411\u6324\u538b\u7684\u4e00\u4fa7\u65f6\uff0c\u4e0a\u884c\u884c\u60c5\u5c06\u6bd4\u4ee5\u5f80\u4efb\u4f55\u65f6\u5019\u90fd\u66f4\u52a0\u9661\u5ced<\/strong>\u3002<\/p>\n

    \u4f20\u7edf\u91d1\u878d\u4fdd\u8bc1\u91d1\u89c4\u5219\u7684\u8106\u5f31\u6027\uff0c\u6b63\u662f\u6bd4\u7279\u5e01\u7684\u53cd\u8106\u5f31\u6027\u3002\u4e00\u65e6\u4ef7\u683c\u53cd\u5f39\u6765\u2014\u2014\u5728\u6211\u770b\u6765\u8fd9\u662f\u4e0d\u53ef\u907f\u514d\u7684\uff0c\u5c24\u5176\u662f\u5728\u7eb3\u65af\u8fbe\u514b\u63d0\u9ad8\u4e86\u671f\u6743\u672a\u5e73\u4ed3\u5408\u7ea6\u4e0a\u9650\u4e4b\u540e\u2014\u2014\u90a3\u5c06\u4f1a\u662f\u4e00\u573a\u6781\u5176\u58ee\u89c2\u7684\u884c\u60c5\u3002<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    \u4f5c\u8005 | Jeff Park\uff08Bitwise \u9996\u5e2d\u4fe1\u606f\u5b98\uff09 \u7f16\u8bd1 | Odaily\u661f\u7403\u65e5\u62a5\uff08@OdailyCh […]<\/p>\n","protected":false},"author":2,"featured_media":3684,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=\/wp\/v2\/posts\/3683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3683"}],"version-history":[{"count":1,"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=\/wp\/v2\/posts\/3683\/revisions"}],"predecessor-version":[{"id":7767,"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=\/wp\/v2\/posts\/3683\/revisions\/7767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=\/wp\/v2\/media\/3684"}],"wp:attachment":[{"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jiankangguanli1.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}