{"id":4722,"date":"2026-08-28T02:16:21","date_gmt":"2026-08-27T18:16:21","guid":{"rendered":"http:\/\/www.lqhyjs.com\/?p=4722"},"modified":"2026-08-28T02:16:21","modified_gmt":"2026-08-27T18:16:21","slug":"%e5%8a%a0%e5%af%86%e5%b8%82%e5%9c%ba%e9%a3%8e%e4%ba%91%ef%bc%9a%e7%9b%91%e7%ae%a1%e6%9d%be%e7%bb%91%e4%b8%8e%e6%83%85%e7%bb%aa%e6%b3%a2%e5%8a%a8%e4%b8%8b%e7%9a%84%e6%9c%ba%e9%81%87%e4%b8%8e%e6%8c%91","status":"publish","type":"post","link":"http:\/\/www.liaoxiaoha.com\/?p=4722","title":{"rendered":"\u52a0\u5bc6\u5e02\u573a\u98ce\u4e91\uff1a\u76d1\u7ba1\u677e\u7ed1\u4e0e\u60c5\u7eea\u6ce2\u52a8\u4e0b\u7684\u673a\u9047\u4e0e\u6311\u6218"},"content":{"rendered":"<section style=\"margin-top:30px\">\n<p>\u5728\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u821e\u53f0\u4e0a\uff0c2025 \u5e74\u6ce8\u5b9a\u662f\u4e0d\u5e73\u51e1\u7684\u4e00\u5e74\u3002\u4ece SEC 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\u7684\u65b0\u653f\u6b22\u547c\u96c0\u8dc3\u65f6\uff0c\u6bd4\u7279\u5e01\u5e02\u573a\u5374\u51fa\u73b0\u4e86\u77ed\u671f\u7684\u5267\u70c8\u6ce2\u52a8\u3002CryptoQuant \u6570\u636e\u663e\u793a\uff0c\u6bd4\u7279\u5e01\u77ed\u671f\u6301\u6709\u8005\uff08STH\uff09\u8fd1\u671f\u51fa\u73b0\u4e86\u5927\u89c4\u6a21\u7684\u6050\u614c\u629b\u552e\uff0c\u629b\u552e\u91d1\u989d\u9ad8\u8fbe 33.9 \u4ebf\u7f8e\u5143\u3002SOPR \u6307\u6807\u8dcc\u7834 1\uff0c\u8868\u660e\u5927\u91cf\u6295\u8d44\u8005\u5728\u6210\u672c\u4ef7\u4ee5\u4e0b\u5272\u8089\u79bb\u573a\uff0cBTC \u5de8\u9cb8\u7684\u6d6e\u4e8f\u4e5f\u5728\u4e0d\u65ad\u52a0\u5267\uff0c\u5e02\u573a\u77ed\u7ebf\u627f\u538b\u660e\u663e\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<\/section>\n<section style=\"margin-top:30px\">\n<p>\u4e0e\u6b64\u540c\u65f6\uff0c\u671f\u8d27\u672a\u5e73\u4ed3\u5408\u7ea6\u4ece 448 \u4ebf\u7f8e\u5143\u964d\u81f3 428 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style=\"margin-top:30px\">\n<\/section>\n<section style=\"margin-top:30px\">\n<p>\u4ee5\u592a\u574a\u73b0\u8d27 ETF \u7684\u4ea4\u6613\u91cf\u5360\u6bd4\u4e5f\u4ece\u53bb\u5e74\u540c\u671f\u7684 3% \u98d9\u5347\u81f3 15%\uff0c\u4ee5\u592a\u574a\u5e74\u5185\u6da8\u5e45\u8d85\u8fc7 30%\u3002\u8fd9\u4e00\u8d8b\u52bf\u8868\u660e\uff0c\u4f20\u7edf\u91d1\u878d\u673a\u6784\u6b63\u5c06\u52a0\u5bc6\u8d27\u5e01\u89c6\u4e3a\u4e00\u79cd\u91cd\u8981\u7684\u8d44\u4ea7\u7c7b\u522b\uff0c\u517b\u8001\u57fa\u91d1\u548c\u4e3b\u6743\u8d22\u5bcc\u57fa\u91d1\u7b49\u957f\u671f\u8d44\u91d1\u7684\u6d41\u5165\uff0c\u9884\u8ba1\u5c06\u5ef6\u957f\u672c\u8f6e\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u5468\u671f\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<\/section>\n<section style=\"margin-top:30px\">\n<h3>\u8d22\u5bcc\u91cd\u5851\uff1a\u52a0\u5bc6\u767e\u4e07\u5bcc\u7fc1\u6570\u91cf\u6fc0\u589e<\/h3>\n<\/section>\n<section style=\"margin-top:30px\">\n<\/section>\n<section style=\"margin-top:30px\">\n<p>\u968f\u8457\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u7684\u53d1\u5c55\uff0c\u5168\u7403\u52a0\u5bc6\u8d22\u5bcc\u7ed3\u6784\u4e5f\u5728\u53d1\u751f\u7740\u6df1\u523b\u7684\u53d8\u5316\u3002Henley &amp; Partners \u53d1\u5e03\u7684\u300a2025 \u52a0\u5bc6\u8d22\u5bcc\u62a5\u544a\u300b\u663e\u793a\uff0c\u5168\u7403\u6301\u6709\u8d85\u767e\u4e07\u7f8e\u5143\u52a0\u5bc6\u8d44\u4ea7\u7684\u4eba\u6570\u8fbe\u5230\u4e86 24.17 \u4e07\uff0c\u8f83\u4e4b\u524d\u589e\u957f\u4e86 40%\uff0c\u8d85 1 \u4ebf\u7f8e\u5143\u5bcc\u7fc1\u6709 450 \u540d\u3002<\/p>\n<\/section>\n<section style=\"margin-top:30px\">\n<\/section>\n<section style=\"margin-top:30px\">\n<p>\u62a5\u544a\u8fd8\u6307\u51fa\uff0c\u603b\u52a0\u5bc6\u5e02\u503c\u8fbe\u5230\u4e86 3.3 \u5146\u7f8e\u5143\uff0c\u589e\u957f\u4e86 45%\uff0c\u5176\u4e2d\u6bd4\u7279\u5e01\u5360\u6bd4 60%\uff0c\u62e5\u6709\u767e\u4e07\u7f8e\u5143\u52a0\u5bc6\u8d44\u4ea7\u7684\u4eba\u7fa4\u4e2d\uff0c\u6709 14.51 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