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Table of Contents
1. 灰度數(shù)字大盤最新持倉數(shù)據(jù):BTC占比下降,ETH、SOL等上漲
2. 為什么灰度降低BTC持倉比例?
(1)比特幣ETF競爭加劇,GBTC資金外流
(2)以太坊ETF預(yù)期推動資金轉(zhuǎn)向ETH
(3)山寨幣市場活躍,機構(gòu)尋求更高收益
3. 山寨幣是否迎來新的投資機會?
(1)市場風(fēng)險偏好上升,資金尋求更高Beta資產(chǎn)
(2)以太坊生態(tài)迎來爆發(fā),Layer2、DeFi、RWA成焦點
(3)Solana、XRP等競爭公鏈?zhǔn)軝C構(gòu)青睞
4. 投資者該如何應(yīng)對?
5. 結(jié)論:機構(gòu)調(diào)倉或預(yù)示新一輪山寨幣周期
Home web3.0 The latest holdings of Grayscale Digital Market are exposed: BTC share declines, and altcoin opportunities emerge?

The latest holdings of Grayscale Digital Market are exposed: BTC share declines, and altcoin opportunities emerge?

Jul 01, 2025 pm 05:54 PM
git Bitcoin binance Ethereum Why btc Binance exchange Huobi okx optimism Altcoins Ouyi ether

灰度投資調(diào)整數(shù)字大盤基金持倉,比特幣占比下降,以太坊及山寨幣占比上升。1. 灰度Q2報告顯示,BTC持倉比例由68.5%降至62.3%,ETH上升至28.1%,SOL及其他山寨幣也有所增加;2. 調(diào)整原因包括比特幣ETF競爭加劇導(dǎo)致資金流出、ETH ETF預(yù)期推動資金流入以及山寨幣市場活躍吸引機構(gòu)配置;3. 此次變化可能預(yù)示山寨幣新周期來臨,市場風(fēng)險偏好上升、以太坊生態(tài)發(fā)展及Solana等公鏈?zhǔn)芮嗖A成為主要驅(qū)動因素。

灰度數(shù)字大盤最新持倉曝光:BTC占比下滑,山寨幣機會浮現(xiàn)? - php中文網(wǎng)

2025主流貨幣交易所:

歐易OKX:

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火幣Huobi:

Gateio芝麻開門:

近期,灰度投資(Grayscale Investments)公布了其數(shù)字大盤基金(GDLC)的最新持倉數(shù)據(jù),顯示比特幣(BTC)的配置比例有所下降,而以太坊(ETH)及其他山寨幣(Altcoins)的占比則呈現(xiàn)上升趨勢。這一變化引發(fā)了市場廣泛討論:機構(gòu)投資者的偏好是否正在從比特幣轉(zhuǎn)向山寨幣??這是短期調(diào)整,還是長期趨勢的開始?


1. 灰度數(shù)字大盤最新持倉數(shù)據(jù):BTC占比下降,ETH、SOL等上漲

根據(jù)灰度披露的2024年第二季度報告,其**Digital Large Cap Fund(GDLC)**的資產(chǎn)配置比例如下(截至2024年6月):

  • 比特幣(BTC):占比?62.3%(上一季度 68.5%)

  • 以太坊(ETH):占比?28.1%(上一季度 24.7%)

  • Solana(SOL):占比?4.5%(上一季度 3.2%)

  • 其他(XRP、ADA等):占比?5.1%(上一季度 3.6%)

從數(shù)據(jù)來看,BTC的持倉比例下降了約6.2%,而ETH、SOL等山寨幣的占比則明顯上升。這表明,灰度正在逐步調(diào)整其投資策略,減少對比特幣的單一依賴,并增加對以太坊及其他高潛力山寨幣的配置。


2. 為什么灰度降低BTC持倉比例?

(1)比特幣ETF競爭加劇,GBTC資金外流

自2024年1月美國SEC批準(zhǔn)比特幣現(xiàn)貨ETF以來,灰度GBTC(比特幣信托)面臨來自貝萊德(BlackRock)、富達(Fidelity)等機構(gòu)的激烈競爭。由于GBTC的管理費較高(1.5%),部分資金轉(zhuǎn)向更便宜的ETF產(chǎn)品(如IBIT、FBTC),導(dǎo)致GBTC持續(xù)資金流出,可能影響了灰度對比特幣的整體持倉比例。

(2)以太坊ETF預(yù)期推動資金轉(zhuǎn)向ETH

2024年5月,SEC批準(zhǔn)了以太坊現(xiàn)貨ETF的19b-4文件(盡管尚未正式上市交易),市場普遍預(yù)期ETH ETF將在未來幾個月內(nèi)推出。這一預(yù)期促使機構(gòu)投資者提前布局ETH,導(dǎo)致灰度增加了對以太坊的配置。

(3)山寨幣市場活躍,機構(gòu)尋求更高收益

2024年,Solana(SOL)、Ripple(XRP)、Cardano(ADA)等山寨幣表現(xiàn)強勁,尤其是在DeFi、RWA(真實世界資產(chǎn))、Memecoin等領(lǐng)域的創(chuàng)新,吸引了更多資金流入?;叶瓤赡苷J(rèn)為,部分山寨幣已具備長期增長潛力,因此調(diào)整了投資組合。


3. 山寨幣是否迎來新的投資機會?

灰度持倉的變化,往往被視為機構(gòu)資金流向的重要信號。此次BTC占比下降、山寨幣占比上升,可能意味著:

(1)市場風(fēng)險偏好上升,資金尋求更高Beta資產(chǎn)

比特幣通常被視為“數(shù)字黃金”,波動性相對較低;而ETH、SOL等山寨幣則具有更高的價格彈性。當(dāng)市場情緒轉(zhuǎn)向樂觀時,資金往往會流入高風(fēng)險高回報的山寨幣。

(2)以太坊生態(tài)迎來爆發(fā),Layer2、DeFi、RWA成焦點

隨著以太坊ETF即將上市,ETH的機構(gòu)關(guān)注度大幅提升。此外,**Layer2(如Arbitrum、Optimism)、DeFi(如Uniswap、Aave)、RWA(如Ondo、MakerDAO)**等賽道增長迅速,可能進一步推動資金流入ETH及相關(guān)生態(tài)項目。

(3)Solana、XRP等競爭公鏈?zhǔn)軝C構(gòu)青睞

Solana(SOL)因其高性能和低交易成本,成為2024年表現(xiàn)最好的主流山寨幣之一。而XRP在跨境支付領(lǐng)域的進展,也使其重新獲得機構(gòu)關(guān)注。灰度的增持可能預(yù)示著這些公鏈的長期價值正在被認(rèn)可。


4. 投資者該如何應(yīng)對?

  • 長期持有者(HODLer):可繼續(xù)持有BTC,但需關(guān)注ETF資金流向?qū)r格的影響。

  • 趨勢交易者:可關(guān)注ETH、SOL等近期強勢幣種,但需注意市場波動風(fēng)險。

  • DeFi/RWA投資者:可布局以太坊生態(tài)中的頭部項目,如Lido、Aave、Uniswap等。


5. 結(jié)論:機構(gòu)調(diào)倉或預(yù)示新一輪山寨幣周期

灰度數(shù)字大盤的持倉變化,反映了機構(gòu)投資者對加密市場的策略調(diào)整。比特幣的主導(dǎo)地位短期不會改變,但ETH、SOL等山寨幣正獲得越來越多的資金關(guān)注。如果ETH現(xiàn)貨ETF順利上市,可能會進一步推動山寨幣行情。投資者需密切關(guān)注市場動態(tài),靈活調(diào)整配置策略。

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