{"id":586315,"date":"2025-08-01T22:35:31","date_gmt":"2025-08-02T05:35:31","guid":{"rendered":"https:\/\/nai500.com\/?p=586315"},"modified":"2025-08-01T22:37:50","modified_gmt":"2025-08-02T05:37:50","slug":"2025-%e4%b8%8b%e5%8d%8a%e5%b9%b4-%e5%8a%a0%e5%af%86-%e8%b4%a7%e5%b8%81-%e7%89%9b%e5%b8%82-%e6%9c%89%e6%9c%9b-%e5%bb%b6%e7%bb%ad-%e7%be%8e%e8%81%94%e5%82%a8-%e5%88%a9%e7%8e%87-%e5%86%b3%e7%ad%96","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hans\/blog\/2025\/08\/2025-%e4%b8%8b%e5%8d%8a%e5%b9%b4-%e5%8a%a0%e5%af%86-%e8%b4%a7%e5%b8%81-%e7%89%9b%e5%b8%82-%e6%9c%89%e6%9c%9b-%e5%bb%b6%e7%bb%ad-%e7%be%8e%e8%81%94%e5%82%a8-%e5%88%a9%e7%8e%87-%e5%86%b3%e7%ad%96\/","title":{"rendered":"2025\u4e0b\u534a\u5e74\u52a0\u5bc6\u8d27\u5e01\u725b\u5e02\u6709\u671b\u5ef6\u7eed\uff0c\u7f8e\u8054\u50a8\u5229\u7387\u51b3\u7b56\u5f71\u54cd\u6709\u9650"},"content":{"rendered":"<p>\u7f8e\u8054\u50a8\u5728\u672c\u5468\u4e09\u7ed3\u675f\u76847\u6708\u8bae\u606f\u4f1a\u8bae\u4ecd\u4ee5\u201c\u6309\u5175\u4e0d\u52a8\u201d\u843d\u5e55\uff0c\u4f46\u51fa\u73b030\u5e74\u6765\u9996\u6b21\u4e24\u540d\u7406\u4e8b\uff08Michelle Bowman\u548cChristopher Waller\uff09\u540c\u65f6\u652f\u6301\u964d\u606f25\u4e2a\u57fa\u70b9\u7684\u7f55\u89c1\u5206\u6b67\u3002\u5e02\u573a\u8fc5\u901f\u8c03\u6574\u9884\u671f\uff0c\u5c069\u6708\u964d\u606f\u6982\u7387\u4e0b\u8c03\u81f346%\uff0c\u5168\u5e74\u964d\u606f\u524d\u666f\u5b58\u7591\u3002<\/p>\n<p>\u76f4\u5230\u5468\u4e94\u7f8e\u56fd\u52b3\u5de5\u90e8\u53d1\u5e03\u4e86\u8d85\u7ea7\u75b2\u8f6f\u76847\u6708\u4efd\u975e\u519c\u5c31\u4e1a\u62a5\u544a\uff0c\u5e02\u573a\u5bf9\u4e8e\u7f8e\u8054\u50a89\u6708\u4efd\u964d\u606f\u7684\u9884\u671f\u518d\u6b21\u98d9\u5347\u3002<\/p>\n<p>\u5728\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\uff0c\u6295\u8d44\u8005\u5411\u6765\u70ed\u8877\u4e8e\u63e3\u6d4b\u7f8e\u8054\u50a8\u653f\u7b56\u52a8\u5411\u3002\u4f20\u7edf\u89c2\u70b9\u8ba4\u4e3a\uff0c\u5bbd\u677e\u8d27\u5e01\u653f\u7b56\u52a9\u63a8\u725b\u5e02\uff0c\u800c\u7d27\u7f29\u653f\u7b56\u5219\u6291\u5236\u5e02\u573a\u70ed\u60c5\u3002\u4f462025\u5e74\u7684\u6570\u5b57\u8d44\u4ea7\u5e02\u573a\u5df2\u62e5\u6709\u4e0d\u540c\u7684\u9a71\u52a8\u56e0\u7d20\uff0c\u8bb8\u591a\u5f15\u64ce\u65e0\u9700\u8d27\u5e01\u653f\u7b56\u7684\u201c\u71c3\u6599\u201d\u4e5f\u80fd\u826f\u597d\u8fd0\u8f6c\u3002<\/p>\n<p>\u9996\u5148\u9700\u8981\u660e\u786e\uff0c\u7f8e\u8054\u50a8\u8bbe\u5b9a\u7684\u57fa\u51c6\u5229\u7387\u4f1a\u5f71\u54cd\u501f\u8d37\u6210\u672c\u3002\u4f4e\u5229\u7387\u610f\u5473\u7740\u8d44\u91d1\u6210\u672c\u66f4\u4f4e\uff0c\u901a\u5e38\u4f1a\u5411\u91d1\u878d\u4f53\u7cfb\u6ce8\u5165\u66f4\u591a\u6d41\u52a8\u6027\u3002\u540c\u65f6\u4e5f\u610f\u5473\u7740\u653f\u5e9c\u503a\u5238\u7b49\u6700\u5b89\u5168\u8d44\u4ea7\u7684\u6536\u76ca\u7387\u964d\u4f4e\u3002\u56e0\u6b64\u5f53\u5b89\u5168\u8d44\u4ea7\u6536\u76ca\u5931\u53bb\u5438\u5f15\u529b\u65f6\uff0c\u6295\u8d44\u8005\u5f80\u5f80\u4f1a\u88ab\u6fc0\u52b1\u8f6c\u5411\u98ce\u9669\u66f4\u9ad8\u7684\u6295\u8d44\uff08\u5982\u52a0\u5bc6\u8d27\u5e01\uff09\u3002<\/p>\n<p>\u6b64\u6b21\u592e\u884c\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\u7684\u51b3\u5b9a\u867d\u5728\u9884\u6599\u4e4b\u4e2d\uff0c\u4f46\u5e02\u573a\u7acb\u5373\u5c069\u6708\u964d\u606f\u6982\u7387\u4e0b\u8c03\u81f346%\uff0c\u5168\u5e74\u662f\u5426\u8fd8\u4f1a\u964d\u606f\u4e5f\u53d8\u5f97\u4e0d\u786e\u5b9a\uff0c\u8fd9\u4e0e\u5e02\u573a\u6b64\u524d\u9884\u671f\u76f8\u5de6\u3002\u8fd9\u4e00\u70b9\u81f3\u5173\u91cd\u8981\uff0c\u56e0\u4e3a\u5728\u539f\u672c\u9884\u671f\u5bbd\u677e\u7684\u8fb9\u9645\u4e0a\uff0c\u91d1\u878d\u6761\u4ef6\u5b9e\u9645\u4e0a\u662f\u5728\u6536\u7d27\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c6\u6708\u6d88\u8d39\u8005\u4ef7\u683c\u6307\u6570(CPI)\u540c\u6bd4\u4e0a\u6da82.7%\uff0c\u9ad8\u4e8e5\u6708\u76842.4%\u3002\u5728\u6838\u5fc3\u7269\u4ef7\u7f13\u6162\u4e0a\u5347\u3001\u5173\u7a0e\u901a\u80c0\u6548\u5e94\u901a\u8fc7\u4f9b\u5e94\u94fe\u4f20\u5bfc\u7684\u60c5\u51b5\u4e0b\uff0c\u7f8e\u8054\u50a8\u96be\u4ee5\u6fc0\u8fdb\u964d\u606f\u3002\u767d\u5bab\u6df7\u4e71\u7684\u5173\u7a0e\u653f\u7b56\u5df2\u5bf9\u7ecf\u6d4e\u9020\u6210\u76f4\u63a5\u8d1f\u9762\u5f71\u54cd\uff0c\u8fd9\u4e00\u70b9\u8ba9\u7f8e\u8054\u50a8\u9677\u5165\u8fdb\u9000\u4e24\u96be\u7684\u5883\u5730\u3002<\/p>\n<p>\u5bf9\u4e3b\u6d41\u52a0\u5bc6\u8d27\u5e01\u800c\u8a00\uff0c\u5229\u7387\u7ef4\u6301\u5728\u9ad8\u4f4d\u7684\u5f71\u54cd\u597d\u574f\u53c2\u534a\u3002\u8f83\u9ad8\u7684\u5b9e\u9645\u6536\u76ca\u7387\u63d0\u9ad8\u4e86\u6301\u6709\u65e0\u6536\u76ca\u52a0\u5bc6\u8d44\u4ea7\uff08\u5982\u6bd4\u7279\u5e01BTC\u3001\u745e\u6ce2\u5e01XRP\u3001\u4ee5\u592a\u574aETH\u3001Solana\uff09\u7684\u673a\u4f1a\u6210\u672c\u3002\u4f46\u5229\u7387\u7684\u4e2a\u522b\u8c03\u6574\u5f88\u5c11\u4f1a\u7834\u574f\u52a0\u5bc6\u5e02\u573a\u7684\u7ed3\u6784\u6027\u725b\u5e02\uff1b\u6bd4\u59822020\u5e74\u7684\u4e0a\u6da8\u5c31\u662f\u5728\u7f8e\u8054\u50a8\u6309\u5175\u4e0d\u52a8\u65f6\u5f00\u59cb\u7684\u3002<\/p>\n<p>\u66f4\u91cd\u8981\u7684\u662f\uff0c\u52a0\u5bc6\u5e02\u573a\u6d41\u52a8\u6027\u5e76\u672a\u51fa\u73b0\u6574\u4f53\u6536\u7f29\u3002\u56e0\u6b64\uff0c\u6295\u8d44\u8005\u6709\u7406\u7531\u76f8\u4fe1\uff0c\u5373\u4f7f\u7f8e\u8054\u50a8\u57282025\u5e74\u5269\u4f59\u65f6\u95f4\u7ef4\u6301\u5229\u7387\u4e0d\u53d8\uff0c\u4e5f\u4e0d\u4f1a\u663e\u8457\u62d6\u7d2f\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u3002\u673a\u6784\u8d44\u91d1\u7684\u5927\u89c4\u6a21\u6d41\u5165\u662f\u5f53\u524d\u7684\u4e3b\u8981\u9a71\u52a8\u529b\u3002\u622a\u81f37\u670819\u65e5\u768412\u4e2a\u4ea4\u6613\u65e5\u5185\uff0c\u6bd4\u7279\u5e01\u73b0\u8d27ETF\u51c0\u6d41\u5165\u8fbe66\u4ebf\u7f8e\u5143\u3002\u5982\u6b64\u89c4\u6a21\u7684\u9700\u6c42\u4f7f\u4ef7\u683c\u514d\u53d7\u6e29\u548c\u653f\u7b56\u53d8\u52a8\u7684\u5f71\u54cd\u3002<\/p>\n<p>\u540c\u65f6\uff0c\u7f51\u7edc\u5347\u7ea7\u4e5f\u5728\u52a0\u901f\u3002\u4ee5\u592a\u574a\u4e8e5\u67087\u65e5\u5b9e\u65bdPectra\u5347\u7ea7\uff0c\u63d0\u9ad8\u541e\u5410\u91cf\u5e76\u9488\u5bf9\u673a\u6784\u7528\u6237\u8fdb\u884c\u4f18\u5316\u3002\u5728\u5229\u7387\u5e73\u53f0\u671f\u66f4\u4fbf\u5b9c\u3001\u66f4\u5feb\u901f\u7684\u533a\u5757\u94fe\u7f51\u7edc\uff0c\u5728\u5229\u7387\u4e0b\u964d\u65f6\u4f9d\u7136\u4fdd\u6301\u4f18\u52bf\uff0c\u56e0\u6b64\u5229\u7387\u4e0d\u4f1a\u963b\u788d\u673a\u6784\u6301\u7eed\u52a0\u4ed3\u3002<\/p>\n<p>\u9884\u6d4b\u5e02\u573a\u663e\u793a\uff0cSolana\u57282026\u5e74\u524d\u83b7\u5f97\u73b0\u8d27ETF\u6279\u51c6\u7684\u6982\u7387\u9ad8\u8fbe99%\uff0c\u4e14\u673a\u6784\u6295\u8d44\u8005\u5df2\u663e\u73b0\u6f5c\u5728\u9700\u6c42\u3002\u52a0\u4e0a6\u670830\u65e5\u745e\u6ce2\u5e01\u65b0\u4fa7\u94fe\u4e0a\u7ebf\uff0c\u4f7f\u4ee5\u592a\u574a\u5f0f\u667a\u80fd\u5408\u7ea6\u80fd\u591f\u5728\u65b0\u67b6\u6784\u4e2d\u5229\u7528XRP\u6d41\u52a8\u6027\u3002\u4fa7\u94fe\u7684\u8fd0\u884c\u4e0e\u8054\u90a6\u57fa\u91d1\u5229\u7387\u662f4.5%\u8fd8\u662f4.25%\u65e0\u5173\uff0c\u5b83\u5173\u6ce8\u7684\u662f\u5f00\u53d1\u8005\u8fc1\u79fb\u548c\u4ea4\u6613\u91cf\u3002<\/p>\n<p>\u603b\u800c\u8a00\u4e4b\uff0c\u65e0\u8bba\u5b8f\u89c2\u73af\u5883\u5982\u4f55\uff0c\u5f53\u524d\u52a0\u5bc6\u8d27\u5e01\u884c\u4e1a\u7684\u57fa\u672c\u9762\u8868\u73b0\u5f3a\u52b2\u3002\u867d\u7136\u964d\u606f\u786e\u5b9e\u53ef\u80fd\u63d0\u632f\u98ce\u9669\u504f\u597d\uff0c\u4f46\u4ec5\u62bc\u6ce8\u653f\u7b56\u5bbd\u677e\u7684\u6295\u8d44\u8005\u5ffd\u89c6\u4e86\u6b63\u5728\u8fd0\u8f6c\u7684\u771f\u6b63\u5f15\u64ce\u2014\u2014\u8d44\u91d1\u548c\u5f00\u53d1\u8005\u4eba\u624d\u6b63\u5728\u5feb\u901f\u5411\u94fe\u4e0a\u8fc1\u79fb\u3002\u9274\u4e8e\u6b64\uff0c2025\u5e74\u4e0b\u534a\u5e74\uff0c\u660e\u667a\u7684\u505a\u6cd5\u53ef\u80fd\u662f\u91c7\u7528\u5b9a\u6295\u7b56\u7565\uff08DCA\uff09\u800c\u975e\u8ffd\u9010\u65b0\u95fb\u70ed\u70b9\uff0c\u540c\u65f6\u907f\u5f00\u7f3a\u4e4f\u660e\u786e\u50ac\u5316\u5242\u7684\u4ee3\u5e01\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u7f8e\u8054\u50a8\u5728\u672c\u5468\u4e09\u7ed3\u675f\u76847\u6708\u8bae\u606f\u4f1a\u8bae\u4ecd\u4ee5\u201c\u6309\u5175\u4e0d\u52a8\u201d\u843d\u5e55\uff0c\u4f46\u51fa\u73b030\u5e74\u6765\u9996\u6b21\u4e24\u540d\u7406\u4e8b\uff08Michelle Bowma [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":565810,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[427,430],"tags":[2164,762,737,2161],"class_list":["post-586315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hans","category-trends-strategies-zh-hans","tag-2164","tag-762","tag-737","tag-2161","sectors-financial-products-zh-hans","locations-us-zh-hans"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/586315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=586315"}],"version-history":[{"count":1,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/586315\/revisions"}],"predecessor-version":[{"id":586320,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/posts\/586315\/revisions\/586320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media\/565810"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=586315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/categories?post=586315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hans\/wp-json\/wp\/v2\/tags?post=586315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}