{"id":604928,"date":"2025-11-19T21:18:46","date_gmt":"2025-11-20T05:18:46","guid":{"rendered":"https:\/\/nai500.com\/?p=604928"},"modified":"2025-11-19T21:18:46","modified_gmt":"2025-11-20T05:18:46","slug":"%e6%af%94%e7%89%b9%e5%b9%a3%e6%ad%a5%e5%85%a5%e7%86%8a%e5%b8%82%e9%80%b1%e6%9c%9f%e6%8f%ad%e6%9b%89%e6%ad%b7%e5%8f%b2%e8%a6%8f%e5%be%8b%e8%88%87%e6%9c%aa%e4%be%86%e8%b5%b0%e5%90%91","status":"publish","type":"post","link":"https:\/\/nai500.com\/zh-hant\/blog\/2025\/11\/%e6%af%94%e7%89%b9%e5%b9%a3%e6%ad%a5%e5%85%a5%e7%86%8a%e5%b8%82%e9%80%b1%e6%9c%9f%e6%8f%ad%e6%9b%89%e6%ad%b7%e5%8f%b2%e8%a6%8f%e5%be%8b%e8%88%87%e6%9c%aa%e4%be%86%e8%b5%b0%e5%90%91\/","title":{"rendered":"\u6bd4\u7279\u5e63\u6b65\u5165\u718a\u5e02\u9031\u671f\uff0c\u63ed\u66c9\u6b77\u53f2\u898f\u5f8b\u8207\u672a\u4f86\u8d70\u5411"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">\u8fd1\u671f\uff0c\u6bd4\u7279\u5e63\u6b63\u5f0f\u9032\u5165\u718a\u5e02\u968e\u6bb5\u3002\u6b77\u53f2\u6578\u64da\u986f\u793a\uff0c\u52a0\u5bc6\u8ca8\u5e63\u5e02\u5834\u5f80\u5f80\u6703\u7d93\u6b77\u9019\u4e00\u904e\u7a0b\u3002\u53bb\u5e7411\u6708\u5510\u7d0d\u5fb7\u00b7\u7279\u6717\u666e\u8d0f\u5f97\u7f8e\u570b\u7e3d\u7d71\u5927\u9078\u5f8c\uff0c\u6bd4\u7279\u5e63\u50f9\u683c\u5f37\u52c1\u4e0a\u6f32\uff0c\u65bc2024\u5e7412\u6708\u9996\u6b21\u7a81\u783410\u842c\u7f8e\u5143\uff0c\u4e26\u57282025\u5e7410\u6708\u89f8\u53ca\u7d0412.6\u842c\u7f8e\u5143\u7684\u5cf0\u503c\u3002\u7136\u800c\uff0c\u6b64\u5f8c\u884c\u60c5\u9006\u8f49\uff0c\u622a\u81f311\u670818\u65e5\uff0c\u6bd4\u7279\u5e63\u50f9\u683c\u5df2\u5f9e\u9ad8\u9ede\u66b4\u8dcc27%\u81f39.2\u842c\u7f8e\u5143\uff0c\u7b26\u5408\u8cc7\u7522\u50f9\u683c\u5f9e\u725b\u5e02\u9ad8\u9ede\u4e0b\u8dcc\u8d85\u904e20%\u7684\u718a\u5e02\u5b9a\u7fa9\u3002\u9019\u662f\u6bd4\u7279\u5e63\u5728\u904e\u53bb\u4e94\u5e74\u4e2d\u7b2c\u4e03\u6b21\u9032\u5165\u718a\u5e02\u3002<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">\u7d93\u6fdf\u4e0d\u78ba\u5b9a\u6027\u5f15\u767c\u62cb\u552e<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">\u672c\u8f2a\u4e0b\u8dcc\u7684\u4e3b\u8981\u9a45\u52d5\u529b\u5728\u65bc\u5b8f\u89c0\u7d93\u6fdf\u74b0\u5883\u7684\u4e0d\u78ba\u5b9a\u6027\uff0c\u5c24\u5176\u662f\u8ca8\u5e63\u653f\u7b56\u524d\u666f\u3002\u6bd4\u7279\u5e63\u901a\u5e38\u5728\u5229\u7387\u4e0b\u884c\u74b0\u5883\u4e2d\u8868\u73fe\u826f\u597d\uff0c\u4f46\u6301\u7e8c\u7684\u901a\u8139\u58d3\u529b\u4f7f\u5e02\u5834\u5c0d\u7f8e\u806f\u5132\u572812\u6708\u6703\u8b70\u4e0a\u7684\u964d\u606f\u6c7a\u7b56\u7522\u751f\u7591\u616e\u3002\u8207\u6b64\u540c\u6642\uff0c\u7f8e\u570b\u5c31\u696d\u5e02\u5834\u5728\u590f\u5b63\u986f\u8457\u75b2\u8edf\uff0c\u800c\u7279\u6717\u666e\u653f\u5e9c\u7684\u95dc\u7a05\u653f\u7b56\u9032\u4e00\u6b65\u52a0\u5287\u4e86\u901a\u8139\u3002\u9019\u4e9b\u56e0\u7d20\u5171\u540c\u5c0e\u81f4\u6295\u8cc7\u8005\u62cb\u552e\u6bd4\u7279\u5e63\u7b49\u98a8\u96aa\u8cc7\u7522\uff0c\u8f49\u5411\u66f4\u70ba\u4fdd\u5b88\u7684\u6295\u8cc7\u6a19\u7684\u3002<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">\u6b77\u53f2\u718a\u5e02\u7684\u898f\u5f8b\u8207\u5553\u793a<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">\u56de\u9867\u904e\u5f80\u516d\u6b21\u718a\u5e02\u7684\u6578\u64da\uff0c\u53ef\u4ee5\u767c\u73fe\u4e00\u4e9b\u898f\u5f8b\u3002\u5728\u9996\u6b21\u9032\u5165\u718a\u5e02\u5f8c\uff0c\u6bd4\u7279\u5e63\u5728\u63a5\u4e0b\u4f86\u516d\u500b\u6708\u5167\u7684\u5e73\u5747\u56de\u5831\u7387\u70ba6%\uff0c\u5728\u63a5\u4e0b\u4f86\u4e00\u5e74\u5167\u7684\u5e73\u5747\u56de\u5831\u7387\u50c5\u70ba1%\u3002\u5f9e\u718a\u5e02\u958b\u59cb\u5230\u518d\u5275\u6b77\u53f2\u65b0\u9ad8\uff0c\u6bd4\u7279\u5e63\u5e73\u5747\u9700\u8981\u8d85\u904e\u4e03\u500b\u6708\u7684\u6642\u9593\u3002\u5118\u7ba1\u6b77\u53f2\u8868\u73fe\u7121\u6cd5\u4fdd\u8b49\u672a\u4f86\u6536\u76ca\uff0c\u4f46\u9019\u4e9b\u6578\u64da\u8868\u660e\uff0c\u6bd4\u7279\u5e63\u5728\u672a\u4f86\u4e00\u5e74\u5167\u5f88\u53ef\u80fd\u5448\u73fe\u6a6b\u76e4\u6574\u7406\u614b\u52e2\u3002\u4e0d\u904e\uff0c\u9577\u671f\u8996\u89d2\u4e0b\uff0c\u6bd4\u7279\u5e63\u5728\u904e\u53bb\u4e94\u5e74\u4e2d\u4ecd\u5be6\u73fe\u4e8638%\u7684\u5e74\u5316\u6536\u76ca\u7387\uff0c\u9019\u8868\u660e\u9022\u4f4e\u8cb7\u5165\u7b56\u7565\u5728\u6b77\u53f2\u9031\u671f\u4e2d\u5177\u6709\u4e00\u5b9a\u50f9\u503c\u3002<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">\u6a5f\u69cb\u53c3\u8207\u7684\u9577\u671f\u908f\u8f2f\u672a\u6539<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">\u5118\u7ba1\u5e02\u5834\u77ed\u671f\u627f\u58d3\uff0c\u4f46\u652f\u6490\u6bd4\u7279\u5e63\u7684\u9577\u671f\u6295\u8cc7\u908f\u8f2f\u4f9d\u7136\u5b58\u5728\u3002\u73fe\u8ca8\u6bd4\u7279\u5e63ETF\u7684\u7372\u6279\uff0c\u4ee5\u53ca\u7279\u6717\u666e\u653f\u5e9c\u4e0b\u76f8\u5c0d\u5bec\u677e\u7684\u76e3\u7ba1\u74b0\u5883\uff0c\u6301\u7e8c\u63a8\u52d5\u8457\u5c0d\u8a72\u8cc7\u7522\u7684\u9700\u6c42\u3002\u6578\u64da\u986f\u793a\uff0c\u81ea\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\u65bc2024\u5e741\u6708\u6279\u51c6\u9996\u6279\u73fe\u8ca8\u6bd4\u7279\u5e63ETF\u4ee5\u4f86\uff0c\u4e0a\u5e02\u516c\u53f8\u548c\u79c1\u71df\u516c\u53f8\u8cc7\u7522\u8ca0\u50b5\u8868\u4e0a\u6301\u6709\u7684\u6bd4\u7279\u5e63\u6578\u91cf\u589e\u9577\u4e86150%\u3002\u5176\u4e2d\uff0cStrategy\u7b49\u516c\u53f8\u7684\u6301\u5009\u4f54\u64da\u986f\u8457\u6bd4\u91cd\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u6a5f\u69cb\u6295\u8cc7\u8005\u7684\u53c3\u8207\u5ea6\u4e5f\u5728\u63d0\u5347\u3002\u7b2c\u4e09\u5b63\u5ea6\u63d0\u4ea4\u768413F\u6587\u4ef6\u986f\u793a\uff0c\u6301\u6709iShares\u6bd4\u7279\u5e63\u4fe1\u8a17\u7684\u5927\u578b\u8cc7\u7522\u7ba1\u7406\u516c\u53f8\u6578\u91cf\u5728\u904e\u53bb\u4e00\u5e74\u7ffb\u500d\uff0c\u5176\u6301\u6709\u7684\u4efd\u984d\u7e3d\u91cf\u589e\u9577\u4e86154%\u3002\u8003\u616e\u5230\u6a5f\u69cb\u6295\u8cc7\u8005\u7ba1\u7406\u8457\u7d04130\u842c\u5104\u7f8e\u5143\u7684\u9f90\u5927\u8cc7\u7522\uff0c\u5373\u4f7f\u5176\u5c07\u4e00\u5c0f\u90e8\u5206\u8cc7\u91d1\u914d\u7f6e\u65bc\u6bd4\u7279\u5e63\uff0c\u4e5f\u53ef\u80fd\u5c0d\u50f9\u683c\u7522\u751f\u986f\u8457\u63a8\u52d5\u4f5c\u7528\u3002<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">\u5e02\u5834\u73fe\u72c0\u8207\u5c08\u5bb6\u89c0\u9ede<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">\u6b64\u6b21\u4e0b\u8dcc\u5c0d\u6578\u5b57\u8cc7\u7522\u9818\u57df\u9020\u6210\u5ee3\u6cdb\u5f71\u97ff\u3002\u6b64\u524d\u63a8\u52d5\u6bd4\u7279\u5e63\u885d\u9ad8\u81f312.6\u842c\u7f8e\u5143\u7684\u5169\u5927\u652f\u67f1\u2014\u2014\u7f8e\u806f\u5132\u964d\u606f\u9810\u671f\u548c\u6a5f\u69cb\u63a1\u7d0d\u7387\u63d0\u5347\u2014\u2014\u5747\u5df2\u6e1b\u5f31\uff0c\u5c0e\u81f4\u8ffd\u6f32\u8cc7\u91d1\u64a4\u96e2\u3002\u6578\u5b57\u8cc7\u7522\u5132\u5099\u516c\u53f8\u7684\u4f30\u503c\u53d7\u5230\u6c88\u91cd\u6253\u64ca\u3002\u8207\u6b64\u540c\u6642\uff0c\u4ee5\u592a\u574a\u4e5f\u56de\u843d\u81f33000\u7f8e\u5143\u4ee5\u4e0b\uff0c\u56de\u5410\u4e86\u4eca\u5e748\u6708\u903c\u8fd15000\u7f8e\u5143\u95dc\u53e3\u7684\u5168\u90e8\u6f32\u5e45\u3002<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u5c0d\u65bc\u5e02\u5834\u524d\u666f\uff0cBitwise Asset Management\u9996\u5e2d\u6295\u8cc7\u5b98Matthew Hougan\u8a8d\u70ba\uff0c\u62cb\u552e\u6f6e\u53ef\u80fd\u5df2\u63a5\u8fd1\u5c3e\u8072\u800c\u975e\u525b\u525b\u958b\u59cb\uff0c\u4f46\u5e02\u5834\u60c5\u7dd2\u4ecd\u8655\u65bc\u4e0d\u5b89\u72c0\u614b\u3002\u4ed6\u6307\u51fa\uff0c\u52a0\u5bc6\u8ca8\u5e63\u5728\u627e\u5230\u7a69\u56fa\u7684\u5fa9\u8607\u6839\u57fa\u4e4b\u524d\uff0c\u53ef\u80fd\u4ecd\u9700\u7d93\u6b77\u9032\u4e00\u6b65\u7684\u4e0b\u63a2\u904e\u7a0b\u3002\u6295\u8cc7\u8005\u61c9\u6e05\u9192\u8a8d\u8b58\u5230\uff0c\u6bd4\u7279\u5e63\u6b77\u4f86\u6ce2\u52d5\u5287\u70c8\uff0c\u5982\u679c\u7d93\u6fdf\u5f62\u52e2\u60e1\u5316\uff0c\u7576\u524d\u718a\u5e02\u53ef\u80fd\u52a0\u5287\u3002\u56e0\u6b64\uff0c\u50c5\u7576\u80fd\u5920\u627f\u53d7\u6f5b\u5728\u640d\u5931\u6642\uff0c\u624d\u61c9\u8003\u616e\u6d89\u8db3\u9019\u4e00\u9ad8\u98a8\u96aa\u8cc7\u7522\u9818\u57df\u3002<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u8fd1\u671f\uff0c\u6bd4\u7279\u5e63\u6b63\u5f0f\u9032\u5165\u718a\u5e02\u968e\u6bb5\u3002\u6b77\u53f2\u6578\u64da\u986f\u793a\uff0c\u52a0\u5bc6\u8ca8\u5e63\u5e02\u5834\u5f80\u5f80\u6703\u7d93\u6b77\u9019\u4e00\u904e\u7a0b\u3002\u53bb\u5e7411\u6708\u5510\u7d0d\u5fb7\u00b7\u7279\u6717\u666e\u8d0f\u5f97\u7f8e\u570b\u7e3d [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":604935,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[426],"tags":[2109,2176,804,641],"class_list":["post-604928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news-zh-hant","tag-2109","tag-2176","tag-804","tag--zh-hant","sectors-cryptocurrency-zh-hant","sectors-technology-zh-hant","locations-us-zh-hant","exchange-609"],"acf":[],"_links":{"self":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/604928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/comments?post=604928"}],"version-history":[{"count":3,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/604928\/revisions"}],"predecessor-version":[{"id":604931,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/posts\/604928\/revisions\/604931"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media\/604935"}],"wp:attachment":[{"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=604928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/categories?post=604928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nai500.com\/zh-hant\/wp-json\/wp\/v2\/tags?post=604928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}