{"id":71986,"date":"2025-11-24T23:56:00","date_gmt":"2025-11-24T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=71986"},"modified":"2025-12-03T00:18:38","modified_gmt":"2025-12-02T16:18:38","slug":"%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/","title":{"rendered":"\u80a1\u7968\u4ee3\u5e63\u5316\u6b63\u5728\u985b\u8986\u5168\u7403\u91d1\u878d\u5e02\u5834"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"\u986f\u793a\/\u96b1\u85cf\u5167\u5bb9\u76ee\u9304\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#2025%E5%B9%B4%E7%9A%84%E9%87%91%E8%9E%8D%E5%B8%82%E5%A0%B4%E7%84%A6%E9%BB%9E\" >2025\u5e74\u7684\u91d1\u878d\u5e02\u5834\u7126\u9ede<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E4%BB%8A%E5%B9%B4%E5%B8%82%E5%A0%B4%E7%9A%84%E5%85%A9%E5%A4%A7%E9%A9%85%E5%8B%95%E5%8A%9B%E4%B9%8B%E4%B8%80\" >\u4eca\u5e74\u5e02\u5834\u7684\u5169\u5927\u9a45\u52d5\u529b\u4e4b\u4e00<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E4%B8%80%E5%88%87%E7%99%BC%E7%94%9F%E5%9C%A8%E6%9C%80%E8%BF%91%E5%8D%8A%E5%B9%B4\" >\u4e00\u5207\u767c\u751f\u5728\u6700\u8fd1\u534a\u5e74<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E4%B8%BB%E8%A6%81%E5%BB%A0%E5%95%86%E7%9A%84%E5%8B%95%E5%90%91\" >\u4e3b\u8981\u5ee0\u5546\u7684\u52d5\u5411<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E7%BE%85%E8%B3%93%E6%BC%A2%E7%9A%84%E5%8B%95%E5%90%91\" >\u7f85\u8cd3\u6f22\u7684\u52d5\u5411<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#Kraken%E5%92%8CXStocks%E5%90%88%E4%BD%9C\" >Kraken\u548cXStocks\u5408\u4f5c<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#Coinbase%E7%9A%84%E5%8B%95%E5%90%91\" >Coinbase\u7684\u52d5\u5411<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#Gemini\" >Gemini<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#eToro\" >eToro<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#Galaxy_Digital\" >Galaxy Digital<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#Telegram\" >Telegram<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E8%B2%9D%E8%90%8A%E5%BE%B7\" >\u8c9d\u840a\u5fb7<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E7%9B%A3%E7%AE%A1%E5%92%8C%E4%BA%A4%E6%98%93%E6%89%80%E7%9A%84%E6%85%8B%E5%BA%A6\" >\u76e3\u7ba1\u548c\u4ea4\u6613\u6240\u7684\u614b\u5ea6<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#SEC%E7%9A%84%E6%85%8B%E5%BA%A6\" >SEC\u7684\u614b\u5ea6<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E4%B8%AD%E5%9C%8B%E8%AD%89%E7%9B%A3%E6%9C%83%E7%9A%84%E6%85%8B%E5%BA%A6\" >\u4e2d\u570b\u8b49\u76e3\u6703\u7684\u614b\u5ea6<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E4%B8%96%E7%95%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E6%89%80%E8%81%AF%E5%90%88%E6%9C%83\" >\u4e16\u754c\u8b49\u5238\u4ea4\u6613\u6240\u806f\u5408\u6703<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E4%B8%BB%E8%A6%81%E4%BA%A4%E6%98%93%E6%89%80%E7%9A%84%E5%8F%8D%E6%87%89\" >\u4e3b\u8981\u4ea4\u6613\u6240\u7684\u53cd\u61c9<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E7%BE%8E%E5%9C%8B\" >\u7f8e\u570b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E6%AD%90%E6%B4%B2\" >\u6b50\u6d32<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E6%8A%95%E8%B3%87%E4%BA%BA%E5%BF%85%E9%9C%80%E8%AC%B9%E8%A8%98%E7%9A%84%E8%A6%81%E9%BB%9E\" >\u6295\u8cc7\u4eba\u5fc5\u9700\u8b39\u8a18\u7684\u8981\u9ede<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E6%8A%95%E8%B3%87%E4%BA%BA%E4%B8%8D%E6%98%AF%E8%82%A1%E6%9D%B1\" >\u6295\u8cc7\u4eba\u4e0d\u662f\u80a1\u6771<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E5%84%AA%E9%BB%9E\" >\u512a\u9ede<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E7%BC%BA%E9%BB%9E\" >\u7f3a\u9ede<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E6%AD%A3%E5%8F%8D%E5%85%A9%E6%96%B9%E9%87%9D%E9%8B%92%E7%9B%B8%E5%B0%8D\" >\u6b63\u53cd\u5169\u65b9\u91dd\u92d2\u76f8\u5c0d<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/#%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\" >\u76f8\u95dc\u6587\u7ae0<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2025%E5%B9%B4%E7%9A%84%E9%87%91%E8%9E%8D%E5%B8%82%E5%A0%B4%E7%84%A6%E9%BB%9E\"><\/span>2025\u5e74\u7684\u91d1\u878d\u5e02\u5834\u7126\u9ede<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%BB%8A%E5%B9%B4%E5%B8%82%E5%A0%B4%E7%9A%84%E5%85%A9%E5%A4%A7%E9%A9%85%E5%8B%95%E5%8A%9B%E4%B9%8B%E4%B8%80\"><\/span>\u4eca\u5e74\u5e02\u5834\u7684\u5169\u5927\u9a45\u52d5\u529b\u4e4b\u4e00<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>2025\u958b\u5e74\u81f3\u4eca\uff0c\u63a8\u52d5\u7f8e\u570b\u91d1\u878d\u5e02\u5834\u6700\u91cd\u8981\u7684\u5169\u5927\u4e3b\u984c\uff0c\u9664\u4e86\u9081\u5165\u7b2c\u4e09\u5e74\u4f9d\u820a\u706b\u71b1\u7684\u4eba\u5de5\u667a\u6167\u5916\uff0c\u5305\u62ec\u7a69\u5b9a\u5e63\uff0c\u6bd4\u7279\u5e63\uff0c\u4ee5\u592a\u5e63\u7b49\u52a0\u5bc6\u8ca8\u5e63\u6216\u662f\u52a0\u5bc6\u8ca8\u5e63\u5e95\u5c64\u6240\u63a1\u7528\u7684\u5404\u7a2e\u5340\u584a\u93c8\u7684\u61c9\u7528\u9818\u57df\u4e5f\u4e0d\u9051\u591a\u8b93\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%80%E5%88%87%E7%99%BC%E7%94%9F%E5%9C%A8%E6%9C%80%E8%BF%91%E5%8D%8A%E5%B9%B4\"><\/span>\u4e00\u5207\u767c\u751f\u5728\u6700\u8fd1\u534a\u5e74<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6700\u8fd1\u5e7e\u500b\u6708\u4ee5\u4f86\uff0c\u4ee5\u83ef\u723e\u8857\u70ba\u4ee3\u8868\u7684\u91d1\u878d\u6a5f\u69cb\u6b63\u5728\u66f4\u5ee3\u6cdb\u5730\u63a2\u7d22\u8cc7\u7522\u4ee3\u5e63\u5316\uff08asset tokenization\uff09\u2014\u2014\u5c07\u73fe\u5be6\u4e16\u754c\u7684\u8cc7\u7522\u653e\u5230\u5340\u584a\u93c8\u4e0a\u7684\u904e\u7a0b\u2014\u2014\u4ee5\u6b64\u4f86\u63d0\u9ad8\u8cc7\u672c\u5e02\u5834\u7684\u6548\u7387\u548c\u53ef\u53ca\u6027\u3002\u8c9d\u840a\u5fb7\u3001\u5bcc\u862d\u514b\u6797\u9127\u666e\u9813\u548c\u6469\u6839\u5927\u901a\u8fd1\u5e7e\u500b\u6708\u90fd\u5df2\u9032\u8ecd\u8a72\u9818\u57df\u3002\u5176\u4e2d\u6700\u91cd\u8981\uff0c\u8b93\u6295\u8cc7\u4eba\u6700\u611f\u8208\u8da3\u7684\u5c31\u662f\u80a1\u7968\u4ee3\u5e63\u5316\uff08Tokenised stocks\uff09\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%BB%E8%A6%81%E5%BB%A0%E5%95%86%E7%9A%84%E5%8B%95%E5%90%91\"><\/span>\u4e3b\u8981\u5ee0\u5546\u7684\u52d5\u5411<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%BE%85%E8%B3%93%E6%BC%A2%E7%9A%84%E5%8B%95%E5%90%91\"><\/span>\u7f85\u8cd3\u6f22\u7684\u52d5\u5411<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7f85\u8cd3\u6f22\uff08Robinhood\uff09\u662f\u63a8\u52d5\u80a1\u7968\u4ee3\u5e63\u5316\uff08Tokenized Stocks\uff09\u6700\u70ba\u7a4d\u6975\uff0c\u800c\u4e14\u5df2\u7d93\u63a8\u51fa\u5546\u54c1\u5316\u7684\u4e3b\u8981\u91d1\u878d\u4ea4\u6613\u5546\u3002\u7f85\u8cd3\u6f22\u8868\u793a\uff1a\u300c\u4ee3\u5e63\u5316\u7684\u76ee\u6a19\uff0c\u662f\u8b93\u4efb\u4f55\u4eba\u90fd\u80fd\u53c3\u8207\u9019\u7a2e\u7d93\u6fdf\u3002\u300d<\/p>\n\n\n\n<p>\u7f85\u8cd3\u6f22\u57286\u670830\u65e5\uff0c\u516c\u53f8\u5ba3\u5e03\u5411\u6b50\u6d32\u7528\u6236\u63a8\u51faOpenAI\u548cSpaceX\u7684\u4ee3\u5e63\u5316\u80a1\u7968\uff0c\u4f5c\u70ba\u8a72\u516c\u53f8\u5927\u898f\u6a21\u63a8\u51fa\u52a0\u5bc6\u8cc7\u7522\u884c\u52d5\u7684\u4e00\u90e8\u5206\u3002\u7f85\u8cd3\u6f22\u80a1\u50f9\u7576\u65e5\u5927\u6f32\u8fd113%\uff0c\u5275\u4e0b\u6b77\u53f2\u65b0\u9ad8\u3002<\/p>\n\n\n\n<p>\u9019\u4e9b\u4ee3\u5e63\u5316\u8cc7\u7522\u5c07\u50c5\u900f\u904e\u7f85\u8cd3\u6f22\u7684\u6b50\u76df\u52a0\u5bc6\u61c9\u7528\u7a0b\u5f0f\u63d0\u4f9b\uff0c\u5176\u4e2d200\u591a\u96bb\u4ee3\u5e63\u5316\u80a1\u7968\u548cETF\uff0c\uff09\uff0c\u53ef\u4ee5\u8b93\u6b50\u6d32\u7684\u7528\u6236\u8cfc\u8cb7\u50cf\u860b\u679c\u3001\u7279\u65af\u62c9\u3001\u5fae\u8edf\u3001\u82f1\u5049\u9054\u7b49200\u591a\u96bb\u7f8e\u570b\u7684\u80a1\u7968\u884d\u751f\u54c1\uff0c\u751a\u81f3\u4e00\u90e8\u5206\u7b26\u5408\u689d\u4ef6\u7684\u6b50\u6d32\u7528\u6236\u9084\u53ef\u4ee5\u8cfc\u8cb7\u5982OpenAI\u3001SpaceX\u7b49\u4e00\u4e9b\u4e00\u7d1a\u534a\u5e02\u5834\u9084\u6c92\u6709\u4e0a\u5e02\u7684\u80a1\u7968\u884d\u751f\u54c1\u3002\u73fe\u5728\u6bcf\u90315\u5929\uff0c\u6bcf\u592924\u5c0f\u6642\u53ef\u4ea4\u6613\uff0c\u6c92\u6709\u4f63\u91d1\u6216\u5dee\u50f9\u3002<\/p>\n\n\n\n<p>\u7f85\u8cd3\u6f22\u8868\u793a\uff0c\u8a72\u5e73\u53f0\u4e0a\u63d0\u4f9b\u7684\u4ee3\u5e63\u5316\u80a1\u7968\u8207ETF\u6700\u521d\u5c07\u5728Arbitrum\u93c8\u4e0a\u767c\u884c\uff0c\u652f\u63f4\u5206\u7d05\u300124\u5c0f\u6642\/\u6bcf\u9031\u4e94\u5929\u4ea4\u6613\uff0c\u4e26\u627f\u8afe\u514d\u4f63\u91d1\u3001\u7121\u9ede\u5dee\u4ea4\u6613\u9ad4\u9a57\u3002\u672a\u4f86\uff0c\u9019\u4e9b\u8cc7\u7522\u5c07\u9077\u79fb\u81f3\u7f85\u8cd3\u6f22\u5c08\u5c6c\u7684Layer 2\u7db2\u7d61\uff0c\u5be6\u73fe\u8de8\u93c8\u6a4b\u63a5\u3001\u8cc7\u7522\u81ea\u8a17\u7ba1\u7b49\u529f\u80fd\uff0c\u6253\u9020\u771f\u6b63\u7121\u611f\u5316\u7684\u52a0\u5bc6\u4ea4\u6613\u9ad4\u9a57\u3002<\/p>\n\n\n\n<p>OpenAI\u548cSpaceX\u4e4b\u6240\u4ee5\u5f15\u4eba\u6ce8\u76ee\uff0c\u662f\u56e0\u70ba\u9019\u5169\u5bb6\u516c\u53f8\u90fd\u4e0d\u662f\u4e0a\u5e02\u516c\u53f8\uff0c\u800c\u4e14\u5f9e\u6b77\u53f2\u4e0a\u770b\uff0c\u53ea\u6709\u5167\u90e8\u4eba\u58eb\u548c\u8d85\u7d1a\u5bcc\u8c6a\u6295\u8cc7\u8005\u624d\u80fd\u7372\u5f97\u5b83\u5011\u7684\u80a1\u6b0a\u3002<\/p>\n\n\n\n<p>\u95dc\u65bc\u7f85\u8cd3\u6f22\uff0c\u8a73\u60c5\u8acb\u898b\u6211\u7684\u53e6\u4e00\u7bc7\u8cbc\u6587\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/08\/18\/%E7%BE%85%E8%B3%93%E6%BC%A2%EF%BC%88robinhood%EF%BC%89%E5%A6%82%E4%BD%95%E8%B3%BA%E9%8C%A2%EF%BC%9F\/\">\u7f85\u8cd3\u6f22\uff08Robinhood\uff09\u5982\u4f55\u8cfa\u9322\uff1f<\/a>\u300b<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Kraken%E5%92%8CXStocks%E5%90%88%E4%BD%9C\"><\/span>Kraken\u548cXStocks\u5408\u4f5c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u52a0\u5bc6\u4ea4\u6613\u6240Kraken\u651c\u624bXStocks\uff0c\u63d0\u4f9b\u5340\u584a\u93c8\u4e0a\u7684\u80a1\u7968\u4ea4\u6613\uff1b\u767c\u552e\u4e861:1\u4ee3\u5e63\u5316\u768460\u591a\u500b\u7f8e\u80a1\u548cETF\u7522\u54c1\u3002\u53e6\u4e00\u500b\u662fKraken\u3001Bybit\u9084\u6709Solana\u7684\u9019\u4e9bDefi\u7684\u751f\u614b\u7cfb\u7d71\u8ddf<br>Coinbase\u652f\u6301\u7684\u4e00\u5bb6\u516c\u53f8\u53ebBats\u516c\u53f8\uff0c\u5b83\u5011\u6240\u767c\u884c\u7684XStocks\uff0c\u9019\u4e5f\u662f\u6240\u8b02\u7684Stock Tokens\uff0c\u6211\u7814\u7a76\u4e0b\u4f86\u5be6\u969b\u4ed6\u5011\u6709\u672c\u8cea\u7684\u5340\u5225\u3002\u7c21\u55ae\u4f86\u8aaa\uff0cBybit\u65e9\u671f\u63a8\u51fa\u7684Stock Tokens\uff0c\u5b83\u7576\u6642\u662f\u6c92\u67091:1\u6620\u5c04\u7684\uff0c\u5b83\u5be6\u969b\u4e0a\u63a8\u7684\u662f\u4e00\u500bCFD\u7684\u5dee\u50f9\u5408\u7d04\uff0c\u53ea\u662f\u8ffd\u8e64\u9019\u4e9b\u7f8e\u80a1\u7684\u50f9\u683c\u8b8a\u5316\u3002\u4f46\u5728\u5e7e\u5929\u524d\uff0c\u5b83\u5ba3\u5e03\u652f\u63f4XStocks\u61c9\u8a72\u662f1:1\u6620\u5c04\u4e86\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Coinbase%E7%9A%84%E5%8B%95%E5%90%91\"><\/span>Coinbase\u7684\u52d5\u5411<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Coinbase \u5411 CNBC \u8b49\u5be6\uff0c\u5176\u6b63\u6e96\u5099\u63a8\u51fa\u7f8e\u570b\u80a1\u7968\u7684\u4ee3\u5e63\u5316\u7248\u672c\u2014\u2014\u53ef\u5728\u5340\u584a\u93c8\u57fa\u790e\u8a2d\u65bd\u4e0a\u4ea4\u6613\u7684\u80a1\u7968\u7684\u6578\u4f4d\u5316\u7248\u672c\u3002\u8a72\u7522\u54c1\u5c07\u5141\u8a31\u7528\u6236\u5168\u5929\u5019\u8cb7\u8ce3\u90e8\u5206\u80a1\u7968\uff0c\u7d50\u7b97\u901f\u5ea6\u6bd4\u50b3\u7d71\u80a1\u5e02\u66f4\u5feb\uff0c\u6210\u672c\u66f4\u4f4e\u3002\u8a72\u516c\u53f8\u9996\u5e2d\u6cd5\u52d9\u5b98 Paul Grewal \u65bc 6 \u6708\u5ba3\u5e03\uff0c\u8a72\u516c\u53f8\u6b63\u5728\u5c0b\u6c42\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703 (SEC) \u5c0d\u8a72\u7522\u54c1\u7684\u6279\u51c6\u3002<\/p>\n\n\n\n<p>2025\u5e746\u670831\u65e5\uff0cCoinbase \u8868\u793a\u6b63\u5728\u589e\u52a0\u5176\u6bd4\u7279\u5e63 (BTC) \u6301\u6709\u91cf\uff0c\u4e26\u8a08\u5283\u5728\u672a\u4f86\u5e7e\u500b\u6708\u63a8\u51fa\u4ee3\u5e63\u5316\u7684\u7f8e\u570b\u80a1\u7968\u548c\u9810\u6e2c\u5e02\u5834\u3002<\/p>\n\n\n\n<p>\u95dc\u65bcCoinbase\uff0c\u8a73\u60c5\u8acb\u898b\u6211\u7684\u53e6\u4e00\u7bc7\u8cbc\u6587\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/12\/28\/coinbase%e5%92%8c%e5%b9%a3%e5%ae%89%e5%a6%82%e4%bd%95%e8%b3%ba%e9%8c%a2%e5%84%aa%e5%8b%a2%e7%9a%84%e6%af%94%e8%bc%83\/\" target=\"_blank\" rel=\"noreferrer noopener\">Coinbase\u548c\u5e63\u5b89\uff08Binance\uff09\u5982\u4f55\u8cfa\u9322\uff1f\u96d9\u65b9\u512a\u52e2\u7684\u6bd4\u8f03<\/a>\u300b<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Gemini\"><\/span>Gemini<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>2025\u5e746\u670827\u65e5\uff0cGemini\u5ba3\u4f48\u5df2\u7d93\u5411\u6b50\u6d32\u7684\u5ba2\u6236\u4e0a\u7dda\u5b83\u7684\u9996\u6a94\u4ee3\u5e63\u5316\u7684\u7f8e\u570b\u80a1\u7968Strategy\uff0c\u800c\u516c\u53f8\u4e5f\u6b63\u5728\u64f4\u5927\u4ee3\u5e63\u5316\u7f8e\u570b\u80a1\u7968\u7684\u767c\u884c\u7bc4\u570d\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"eToro\"><\/span>eToro<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u57282025\u5e747\u670829\u65e5\u8209\u884c\u7684\u7db2\u8def\u7814\u8a0e\u6703\u4e2d\uff0ceToro\u5ba3\u5e03\u5c07\u64f4\u5c55\u5176\u6bcf\u90315\u5929\uff0c\u6bcf\u592924\u5c0f\u6642\u4ea4\u6613\u670d\u52d9\uff0c\u5c07\u7d04100\u6a94\u6700\u53d7\u6b61\u8fce\u7684\u7f8e\u570b\u4e0a\u5e02\u80a1\u7968\u548cETF\u4f5c\u70ba\u6a19\u7684\u8cc7\u7522\u3002\u6b64\u5916\uff0ceToro\u9084\u8a08\u5283\u5c07\u9019100\u6a94\u7f8e\u570b\u80a1\u7968\u548cETF\u4ee5ERC-20\u4ee3\u5e63\u7684\u5f62\u5f0f\u5728\u4ee5\u592a\u574a\u5340\u584a\u93c8\u4e0a\u767c\u884c\u3002\u9019\u4e9b\u4ee3\u5e63\u5316\u7684\u80a1\u7968\u5c07\u8207eToro\u6301\u6709\u7684\u6a19\u7684\u80a1\u7968\u4ee51:1\u7684\u6bd4\u4f8b\u639b\u9264\u3002\u6b64\u5916\uff0ceToro \u9084\u8a08\u5283\u5141\u8a31\u5c07\u9019\u4e9b\u4ee3\u5e63\u5316\u7684\u8cc7\u7522\u8f49\u5165\u7528\u6236\u81ea\u5df1\u7684\u9322\u5305\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Galaxy_Digital\"><\/span>Galaxy Digital<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Galaxy\u8207Superstate\u5408\u4f5c\uff0c\u5141\u8a31\u81ea\u5bb6A\u985e\u666e\u901a\u80a1\uff08\u80a1\u7968\u4ee3\u78bc\uff1aGLXY\uff09\u5728Solana\u7db2\u8def\u4e0a\u9032\u884c\u4ee3\u5e63\u5316\uff08\u5373\u5728\u5340\u584a\u93c8\u4e0a\u8f49\u63db\u70ba\u6578\u4f4d\u4ee3\u5e63\uff09\u3002\u9019\u4e9b\u4ee3\u5e63\u5316\u7684\u80a1\u7968\u662f Galaxy Digital \u7684\u771f\u5be6\u80a1\u4efd\uff08\u800c\u975e\u5408\u6210\u6216\u7c21\u55ae\u7684\u5305\u88dd\uff09\uff0c\u5177\u6709\u8207\u50b3\u7d71\u80a1\u4efd\u76f8\u540c\u7684\u6cd5\u5f8b\u6b0a\u5229\u3002\u4ee3\u5e63\u5316\u7684\u80a1\u7968\u6839\u64daSEC \u898f\u5247\u8a3b\u518a\uff1bSuperstate\u5145\u7576SEC\u8a3b\u518a\u7684\u904e\u6236\u4ee3\u7406\uff0c\u7576\u4ee3\u5e63\u5728\u7d93\u904e\u9a57\u8b49\u7684\u9322\u5305\u6301\u6709\u8005\u4e4b\u9593\u8f49\u79fb\u6642\uff0c\u5b83\u6703\u5373\u6642\u66f4\u65b0\u516c\u5171\u5340\u584a\u93c8\u4e0a\u7684\u6240\u6709\u6b0a\u3002<\/p>\n\n\n\n<p>\u672a\u4e0a\u5e02\u4f01\u696d\u4e2d\u5247\u4ee5\u52a0\u5bc6\u4ea4\u6613\u6240Kraken\u651c\u624bXStocks\u7684\u5e73\u53f0\u6700\u7a4d\u6975\uff0c\u5b83\u63d0\u4f9b\u5340\u584a\u93c8\u4e0a\u7684\u80a1\u7968\u4ea4\u6613\uff1b\u767c\u552e\u4e861:1\u4ee3\u5e63\u5316\u768460\u591a\u500b\u7f8e\u80a1\u548cETF\u7522\u54c1\u3002\u53e6\u5916Dinari\u63d0\u4f9b\u4ee3\u5e63\u5316\u7f8e\u570b\u516c\u958b\u4e0a\u5e02\u8b49\u5238dShares\u7684\u5e73\u53f0\u3002\u8207Gemini\u7b49\u516c\u53f8\u5408\u4f5c\u3002Backed Finance\u63d0\u4f9bxStocks\u4ee3\u5e63\u5305\u88dd\u548c\u4ee3\u5e63\u5316\u5373\u670d\u52d9\uff0c\u4f9bKraken\u7b49\u516c\u53f8\u4f7f\u7528\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Telegram\"><\/span>Telegram<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Telegram\u5df2\u5ba3\u5e03\u6574\u5408Kraken\u7684xStocks\uff0c\u63d0\u4f9b\u4ee3\u5e63\u5316\u7684\u7f8e\u570b\u80a1\u7968\u548cETF\u4ea4\u6613\u670d\u52d9\uff0c\u4e26\u65bc2025\u5e7410\u6708\u958b\u59cb\u63a8\u51fa\u3002<\/p>\n\n\n\n<p>\u9996\u5148\u662f Wallet \u7684\u8a17\u7ba1\u670d\u52d9\uff0c\u96a8\u5f8c\u5c07\u64f4\u5c55\u5230Telegram\u81ea\u5df1\u7684TON\u81ea\u8a17\u7ba1\u9322\u5305\u3002\u5c46\u6642\u5c07\u63d0\u4f9b\u8d85\u904e 60 \u7a2e\u4ee3\u5e63\u5316\u7684\u80a1\u7968\u548c ETF\u3002<\/p>\n\n\n\n<p>\u96a8\u8457\u8a72\u670d\u52d9\u7684\u63a8\u51fa\uff0c\u7528\u6236\u5c07\u80fd\u5920\u5b58\u53d6\u860b\u679c\u3001\u7279\u65af\u62c9\u3001\u6a19\u666e500\u6307\u6578\u751a\u81f3 TON Strategy Co (TON) \u7684\u4ee3\u5e63\u5316\u7248\u672c\uff0c\u4ee5\u53ca\u66f4\u5ee3\u6cdb\u7684\u5168\u7403\u80a1\u7968\u7c43\u5b50\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%B2%9D%E8%90%8A%E5%BE%B7\"><\/span>\u8c9d\u840a\u5fb7<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5168\u7403\u6700\u5927\u7684\u8cc7\u7522\u7ba1\u7406\u516c\u53f8\u8c9d\u840a\u5fb72024\u5e74\u5df2\u5c07\u90e8\u5206\u7f8e\u570b\u570b\u50b5\u57fa\u91d1\u9077\u79fb\u81f3\u5340\u584a\u93c8\u30022024\u5e74\u63a8\u51fa\u7684BUIDL\u57fa\u91d1\uff08BlackRock USD Institutional Digital Liquidity Fund\uff09\u6210\u70ba\u9996\u500b\u898f\u6a21\u7a81\u783410\u5104\u7f8e\u5143\u7684\u4ee3\u5e63\u5316\u57fa\u91d1\uff0c\u6839\u64daRWA.xyz \u7684\u6578\u64da\u986f\u793a\uff0cBUIDL\u622a\u81f32025\u5e749\u6708\u8cc7\u7522\u898f\u6a21\u5df2\u905422 \u5104\u7f8e\u5143\uff0c\u6210\u70ba\u5168\u7403\u898f\u6a21\u6700\u5927\u7684<em>\u4ee3\u5e63\u5316\u8ca8\u5e63\u5e02\u5834\u57fa\u91d1<\/em>\u3002\u6b64\u5916\uff0c\u5176\u73fe\u8ca8\u6bd4\u7279\u5e63ETF\u7684\u63a8\u51fa\u4e5f\u7372\u5f97\u5de8\u5927\u6210\u529f\uff0c\u8fc5\u901f\u6210\u70ba\u53f2\u4e0a\u6700\u53d7\u6b61\u8fce\u7684\u6b64\u985e\u57fa\u91d1\u4e4b\u4e00\u3002<\/p>\n\n\n\n<p>2025\u5e749\u6708\uff0c\u8c9d\u840a\u5fb7\u57f7\u884c\u9577\u5f37\u8abf\u6240\u6709\u91d1\u878d\u8cc7\u7522\u90fd\u53ef\u4ee3\u5e63\u5316\uff0c\u8c9d\u840a\u5fb7\u63a2\u7d22\u5c07ETF\u8f49\u63db\u70ba\u5340\u584a\u93c8\u4ee3\u5e63\u7684\u53ef\u80fd\u6027\u3002ETF\u4ee3\u5e63\u5316\u53ef\u80fd\u5e36\u4f86\u4ea4\u6613\u6642\u9593\u5ef6\u9577\u81f3\u83ef\u723e\u8857\u5e38\u898f\u6642\u9593\u4e4b\u5916\u3001\u7f8e\u570b\u7522\u54c1\u66f4\u6613\u65bc\u6d77\u5916\u6295\u8cc7\u8005\u7372\u53d6\uff0c\u4ee5\u53ca\u5728\u52a0\u5bc6\u7db2\u7d61\u4e2d\u4f5c\u70ba\u62b5\u62bc\u54c1\u7684\u65b0\u7528\u9014\u7b49\u8b8a\u9769\u3002<\/p>\n\n\n\n<p>\u9019\u4e9b\u770b\u4f3c\u96f6\u6563\u7684\u4e8b\u4ef6\uff0c\u5be6\u969b\u4e0a\u90fd\u6307\u5411\u7684\u662f\u540c\u4e00\u500b\u65b9\u5411\u2014\u2014\u91d1\u878d\u8cc7\u7522\u7684\u5168\u9762\u79fb\u5f80\u5340\u584a\u93c8\u4e0a\u9032\u884c\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%A3%E7%AE%A1%E5%92%8C%E4%BA%A4%E6%98%93%E6%89%80%E7%9A%84%E6%85%8B%E5%BA%A6\"><\/span>\u76e3\u7ba1\u548c\u4ea4\u6613\u6240\u7684\u614b\u5ea6<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"SEC%E7%9A%84%E6%85%8B%E5%BA%A6\"><\/span>SEC\u7684\u614b\u5ea6<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.hunton.com\/blockchain-legal-resource\/tokenized-securities-are-still-securities\" target=\"_blank\" rel=\"noopener\">\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff08SEC\uff09\u7684\u59d4\u54e1\u66fe\u57282025\u5e747\u6708\u8868\u793a\uff0c\u80a1\u7968\u4ee3\u5e63\u5316\u4ecd\u5fc5\u9808\u9075\u5b88\u8b49\u5238\u76e3\u7ba1\u898f\u5b9a\u3002<\/a><\/p>\n\n\n\n<p>\u622a\u81f3\u4eca\u5929\u70ba\u6b62\uff0c\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\u5c1a\u672a\u6279\u51c6\u80a1\u7968\u4ee3\u5e63\u5316\u5728\u7f8e\u570b\u71df\u904b\u3002\u4e0d\u8ad6\u662f\u7f85\u8cd3\u6f22\uff0c\u6216\u8005\u662fKraken\u548cXStocks\u5408\u4f5c\u6240\u63a1\u7528\u7684\u80a1\u7968\u4ee3\u5e63\u5316\uff0c\u50c5\u9650\u65bc\u5728\u6b50\u6d32\u71df\u904b\u3002<\/p>\n\n\n\n<p>\u6839\u64daThe Information\u57289\u670830\u65e5\u7684\u5831\u5c0e\uff0c\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\u6b63\u5728\u88fd\u5b9a\u4e00\u9805\u8a08\u5283\uff0c\u4f7f\u80a1\u7968\u80fd\u5920\u5728\u985e\u4f3c\u65bc\u52a0\u5bc6\u8ca8\u5e63\u7684\u5340\u584a\u93c8\u6280\u8853\u4e0a\u9032\u884c\u4ea4\u6613\u3002\u7136\u800c\uff0c\u8a72\u8a08\u5283\u906d\u9047\u4f86\u81ea\u50b3\u7d71\u91d1\u878d\u6a5f\u69cb\u7684\u5f37\u70c8\u53cd\u5c0d\uff0c\u9019\u4e9b\u6a5f\u69cb\u5df2\u5728\u73fe\u6709\u5e02\u5834\u7d50\u69cb\u4e2d\u5efa\u7acb\u4e86\u7372\u5229\u6a21\u5f0f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%AD%E5%9C%8B%E8%AD%89%E7%9B%A3%E6%9C%83%E7%9A%84%E6%85%8B%E5%BA%A6\"><\/span>\u4e2d\u570b\u8b49\u76e3\u6703\u7684\u614b\u5ea6<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4e2d\u570b\u8b49\u5238\u76e3\u7ba1\u6a5f\u69cb\u5df2\u5efa\u8b70\u4e00\u4e9b\u5927\u9678\u5238\u5546\u66ab\u505c\u5728\u9999\u6e2f\u958b\u5c55\u73fe\u5be6\u4e16\u754c\u8cc7\u7522\u4ee3\u5e63\u5316\u696d\u52d9\uff0c\u8868\u660e\u4e2d\u570b\u653f\u5e9c\u5c0d\u84ec\u52c3\u767c\u5c55\u7684\u96e2\u5cb8\u6578\u4f4d\u8cc7\u7522\u5e02\u5834\u611f\u5230\u64d4\u6182\u3002\u6700\u65b0\u7684\u76e3\u7ba1\u6307\u5f15\u65e8\u5728\u52a0\u5f37\u65b0\u696d\u52d9\u7684\u98a8\u96aa\u7ba1\u7406\uff0c\u4e26\u78ba\u4fdd\u516c\u53f8\u63d0\u51fa\u7684\u4e3b\u5f35\u6709\u5f37\u5927\u4e14\u5408\u6cd5\u7684\u696d\u52d9\u4f5c\u70ba\u5f8c\u76fe\u3002<\/p>\n\n\n\n<p>\u5728\u9999\u6e2f\u6975\u2f12\u6210\u70ba\u6578\u4f4d\u8cc7\u7522\u4e2d\u2f3c\u7684\u540c\u6642\uff0c\u5317\u4eac\u7684\u614b\u5ea6\u537b\u76f8\u5c0d\u5be9\u614e\u3002\u8def\u900f\u5f15\u8ff0\u5169\u4f4d\u77e5\u60c5\u2f08\u2f20\u8aaa\u6cd5\uff0c\u4e2d\u570b\u8b49\u5238\u76e3\u7763\u7ba1\u7406\u59d4\u54e1\u6703\u5df2\u5efa\u8b70\u90e8\u5206\u672c\u5730\u5238\u5546\u66ab\u505c\u5728\u9999\u6e2f\u7684\u5be6\u9ad4\u8cc7\u7522\uff08RWA\uff09\u4ee3\u5e63\u5316\u696d\u52d9\uff1b\u9019\u51f8\u986f\u5317\u4eac\u5c0d\u96e2\u5cb8\u6578\u4f4d\u8cc7\u7522\u5e02\u5834\u71b1\u6f6e\u7684\u6182\u616e\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%96%E7%95%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93%E6%89%80%E8%81%AF%E5%90%88%E6%9C%83\"><\/span>\u4e16\u754c\u8b49\u5238\u4ea4\u6613\u6240\u806f\u5408\u6703<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>2025\u5e748\u670824\u65e5\uff0c\u4e16\u754c\u8b49\u5238\u4ea4\u6613\u6240\u806f\u5408\u6703\uff08WFE\uff0c\u7e3d\u90e8\u4f4d\u65bc\u82f1\u570b\uff0c\u662f\u4e00\u500b\u7531\u4ea4\u6613\u6240\u548c\u6e05\u7b97\u6240\u7d44\u6210\u7684\u884c\u696d\u5354\u6703\uff09\u5728\u81f4\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff08SEC\uff09\u52a0\u5bc6\u8ca8\u5e63\u7279\u5225\u5de5\u4f5c\u7d44\u3001\u6b50\u6d32\u8b49\u5238\u548c\u5e02\u5834\u7ba1\u7406\u5c40\uff08ESMA\uff09\u4ee5\u53ca\u570b\u969b\u8b49\u76e3\u6703\u7d44\u7e54\uff08IOSCO\uff09\u91d1\u878d\u79d1\u6280\u7279\u5225\u5de5\u4f5c\u7d44\u7684\u4e00\u5c01\u4fe1\u4e2d\u8868\u793a\uff0c\u5176\u64d4\u6182\uff0c\u9019\u4e9b\u4ee3\u5e63\u96d6\u5728\u65bc\u201c\u4ea4\u6613\u201d\u80a1\u7968\uff0c\u537b\u672a\u63d0\u4f9b\u8207\u6a21\u4eff\u80a1\u7968\u3002<\/p>\n\n\n\n<p>WFE \u7a31\uff1a\u201c\u76ee\u524d\u6709\u5927\u91cf\u5238\u5546\u548c\u52a0\u5bc6\u8ca8\u5e63\u4ea4\u6613\u5e73\u53f0\u6b63\u5728\u63d0\u4f9b\u6216\u8a08\u5283\u63d0\u4f9b\u6240\u8b02\u7684&#8217;\u4ee3\u5e63\u5316\u7f8e\u570b\u80a1\u7968&#8217;\uff0c\u6211\u5011\u5c0d\u6b64\u611f\u5230\u64d4\u6182\u3002\u9019\u4e9b\u7522\u54c1\u88ab\u5ba3\u50b3\u70ba&#8217;\u80a1\u7968\u4ee3\u5e63&#8217;\u6216&#8217;\u7b49\u540c\u65bc\u80a1\u7968&#8217;\uff0c\u4f46\u5be6\u969b\u4e0a\u4e26\u975e\u5982\u6b64\u3002\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%BB%E8%A6%81%E4%BA%A4%E6%98%93%E6%89%80%E7%9A%84%E5%8F%8D%E6%87%89\"><\/span>\u4e3b\u8981\u4ea4\u6613\u6240\u7684\u53cd\u61c9<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%BE%8E%E5%9C%8B\"><\/span>\u7f8e\u570b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u90a3\u65af\u9054\u514b9\u67089\u65e5\u5411\u7f8e\u570b\u8b49\u5238\u4ea4\u6613\u59d4\u54e1\u6703\uff08SEC\uff09\u63d0\u4ea4\u4e00\u4efd\u63d0\u6848\uff0c\u5efa\u8b70\u8abf\u6574\u898f\u5247\uff0c\u5141\u8a31\u4e0a\u5e02\u80a1\u7968\u548c\u4ea4\u6613\u6240\u4ea4\u6613\u7522\u54c1\uff08ETP\uff09\u4ee5\u300c\u50b3\u7d71\u6578\u4f4d\u6216\u4ee3\u5e63\u5316\u5f62\u5f0f\u300d\u5728\u90a3\u65af\u9054\u514b\u4e3b\u8981\u5e02\u5834\u4e0a\u4ea4\u6613\u3002&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%AD%90%E6%B4%B2\"><\/span>\u6b50\u6d32<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6b50\u6d32\u8b49\u5238\u53ca\u5e02\u5834\u7ba1\u7406\u5c40\uff08ESMA\uff09\u57f7\u884c\u8463\u4e8b Natasha Cazenave \u5c31\u5728\u675c\u5e03\u7f85\u592b\u5c3c\u514b\u6703\u8b70\u4e0a\u6307\u51fa\uff0c\u90e8\u5206\u91d1\u878d\u79d1\u6280\u516c\u53f8\u63a8\u51fa\u7684\u7522\u54c1\uff0c\u4f7f\u6295\u8cc7\u4eba\u53ef\u4ee5\u63a5\u89f8\u4e0a\u5e02\u80a1\u7968\u6216\u4ee5\u4f01\u696d\u80a1\u7968\u70ba\u62b5\u62bc\u7684\u5340\u584a\u93c8\u884d\u751f\u54c1\uff0c\u9019\u4e9b\u80a1\u7968\u901a\u5e38\u900f\u904e\u7279\u6b8a\u76ee\u7684\u5be6\u9ad4\u6301\u6709\u3002Cazenave \u5f37\u8abf\uff1a\u300c\u9019\u4e9b\u80a1\u7968\u4ee3\u5e63\u96d6\u7136\u63d0\u4f9b\u96a8\u6642\u4ea4\u6613\u8207\u53ef\u5206\u5272\u5316\u7684\u4fbf\u5229\uff0c\u4f46\u901a\u5e38\u4e0d\u8ce6\u4e88\u6301\u6709\u8005\u80a1\u6771\u6b0a\u5229\u3002\u300d\u5979\u88dc\u5145\u8aaa\uff1a\u300c\u9019\u53ef\u80fd\u6703\u9020\u6210\u6295\u8cc7\u8005\u8aa4\u89e3\u7684\u7279\u5b9a\u98a8\u96aa\uff0c\u51f8\u986f\u4e86\u8cc7\u8a0a\u900f\u660e\u8207\u6295\u8cc7\u4fdd\u969c\u7684\u91cd\u8981\u6027\u3002\u300d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E4%BA%BA%E5%BF%85%E9%9C%80%E8%AC%B9%E8%A8%98%E7%9A%84%E8%A6%81%E9%BB%9E\"><\/span>\u6295\u8cc7\u4eba\u5fc5\u9700\u8b39\u8a18\u7684\u8981\u9ede<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E4%BA%BA%E4%B8%8D%E6%98%AF%E8%82%A1%E6%9D%B1\"><\/span>\u6295\u8cc7\u4eba\u4e0d\u662f\u80a1\u6771<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u80a1\u7968\u662f\u4ee3\u5e63\u5316\u57fa\u65bc\u5340\u584a\u93c8\u6280\u8853\u7522\u751f\u7684\u4ee3\u5e63\uff0c\u76ee\u7684\u5728\u5c0d\u61c9\u76f8\u95dc\u516c\u53f8\u7684\u80a1\u7968\u3002\u9019\u4e9b\u4ee3\u5e63\u4ee3\u8868\u5c0d\u76f8\u95dc\u8b49\u5238\u7684\u6240\u6709\u6b0a\uff0c\u4f46\u6295\u8cc7\u8005\u4e26\u4e0d\u6703\u6210\u70ba\u6a19\u7684\u516c\u53f8\u7684\u80a1\u6771\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%84%AA%E9%BB%9E\"><\/span>\u512a\u9ede<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7c21\u8a00\u4e4b\uff0c\u80a1\u7968\u4ee3\u5e63\u5316\u5c31\u662f\u628a\u539f\u672c\u5b58\u5728\u65bc\u50b3\u7d71\u4ea4\u6613\u6240\u88e1\u7684\u80a1\u7968\uff0c\u4ee5\u5340\u584a\u93c8\u4ee3\u5e63\u7684\u5f62\u5f0f\u6620\u5c04\u51fa\u4f86\uff0c\u6295\u8cc7\u8005\u4e0d\u9700\u8981\u901a\u904e\u5238\u5546\uff0c\u5c31\u80fd\u5728\u93c8\u4e0a7\u592924 \u5c0f\u6642\u3001\u8de8\u6642\u5340\u4ea4\u6613\u9019\u4e9b\u8cc7\u7522\u3002\u5b83\u4e0d\u50c5\u6253\u7834\u4e86\u4ea4\u6613\u6642\u9593\u548c\u5730\u57df\u7684\u9650\u5236\uff0c\u9084\u53ef\u80fd\u8b93\u5982\u98a8\u6295\u4efd\u984d\u7b49\u9019\u7a2e\u539f\u672c\u9580\u6abb\u6975\u9ad8\u7684\u8cc7\u7522\uff0c\u90fd\u80fd\u4ee5\u300c\u788e\u7247\u5316\u300d\u7684\u65b9\u5f0f\u5411\u666e\u901a\u4eba\u958b\u653e\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%BC%BA%E9%BB%9E\"><\/span>\u7f3a\u9ede<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u80a1\u7968\u4ee3\u5e63\u5316\u7684\u6295\u8cc7\u4eba\u96d6\u7136\u80fd\u8cb7\u5230\u9019\u4e9b\u4ee3\u5e63\uff0c\u537b\u5e7e\u4e4e\u7121\u6cd5\u9ad8\u6548\u505a\u7a7a\u3001\u5c0d\u6c96\u98a8\u96aa\uff0c\u66f4\u9051\u8ad6\u69cb\u5efa\u8907\u96dc\u4ea4\u6613\u7b56\u7565\u3002\u7f8e\u80a1\u4ee3\u5e63\u5316\uff0c\u672c\u8cea\u4e0a\u4ecd\u505c\u7559\u5728&#8217;\u53ea\u80fd\u8cb7\u6f32&#8217;\u7684\u521d\u59cb\u968e\u6bb5\u3002<\/p>\n\n\n\n<p>\u4e14\u7531\u65bc\u6bcf\u4e00\u679a\u4ee3\u5e63\u80cc\u5f8c\u90fd\u9700\u5be6\u969b\u8a17\u7ba1\u4e00\u96bb\u80a1\u7968\uff0c\u93c8\u4e0a\u4ea4\u6613\u50c5\u662f\u4ee3\u5e63\u6240\u6709\u6b0a\u8f49\u79fb\uff0c\u7121\u6cd5\u5f71\u97ff\u7f8e\u80a1\u73fe\u8ca8\u50f9\u683c\uff0c\u8b6c\u59827 \u67083 \u65e5\uff0c\u93c8\u4e0aAMZNX\uff08\u4e9e\u99ac\u905c\u80a1\u7968\u4ee3\u5e63\uff09\u5c31\u88ab\u4e00\u7b46500 \u7f8e\u5143\u7684\u8cb7\u55ae\u63a8\u9ad8\u81f323781 \u7f8e\u5143\uff0c\u8f03\u5be6\u969b\u80a1\u50f9\u6ea2\u50f9\u8d85100\u500d\uff0c\u975e\u6975\u7aef\u5834\u666f\u4e0b\u591a\u6578\u4ee3\u5e63\uff08\u5982AAPLX\uff09\u7b49\u4e5f\u5e38\u51fa\u73fe\u5831\u50f9\u504f\u96e2\uff0c\u63d2\u91dd\u73fe\u8c61\u983b\u767c\uff0c\u6210\u70ba\u5957\u5229\u8005\u548c\u6d41\u52d5\u6027\u505a\u5e02\u5718\u968a\u7684\u7406\u60f3\u5834\u666f\u3002<\/p>\n\n\n\n<p>\u5176\u6b21\u4fbf\u662f\u7576\u4e0b\u7f8e\u80a1\u8cc7\u7522\u7684\u8cc7\u7522\u529f\u80fd\u88ab\u56b4\u91cd\u95b9\u5272\uff0c\u5373\u4fbf\u662f\u90e8\u5206\u5e73\u53f0\uff08\u5982MyStonks\uff09\u5617\u8a66\u4ee5\u7a7a\u6295\u5f62\u5f0f\u5206\u767c\u5206\u7d05\uff0c\u4f46\u591a\u6578\u5e73\u53f0\u672a\u958b\u653e\u6295\u7968\u6b0a\u548c\u518d\u8cea\u62bc\u6e20\u9053\uff0c\u672c\u8cea\u4e0a\u53ea\u662f&#8217;\u93c8\u4e0a\u6301\u5009\u6191\u8b49&#8217;\uff0c\u800c\u975e\u771f\u6b63\u7684\u4ea4\u6613\u8cc7\u7522\uff0c\u6c92\u6709&#8217;\u4fdd\u8b49\u91d1\u5c6c\u6027&#8217;\u3002<\/p>\n\n\n\n<p>\u5982\u7528\u6236\u8cb7\u5165AAPLX\u3001AMZNX\u3001TSLA.M\u3001CRCL.M \u5f8c\uff0c\u65e2\u4e0d\u80fd\u7528\u65bc\u62b5\u62bc\u501f\u8cb8\uff0c\u4e5f\u7121\u6cd5\u4f5c\u70ba\u4fdd\u8b49\u91d1\u4ea4\u6613\u5176\u4ed6\u8cc7\u7522\uff0c\u66f4\u96e3\u4ee5\u63a5\u5165\u5176\u4ed6DeFi \u5354\u8b70\uff08\u5982\u7528\u7f8e\u80a1\u4ee3\u5e63\u62b5\u62bc\u501f\u8cb8\uff09\u4f86\u9032\u4e00\u6b65\u7372\u5f97\u6d41\u52d5\u6027\uff0c\u5c0e\u81f4\u8cc7\u7522\u5229\u7528\u7387\u8fd1\u4e4e\u70ba\u96f6\u3002<\/p>\n\n\n\n<p>\u4e0d\u8ad6\u662f\u7f85\u8cd3\u6f22\u7684\u65b9\u5f0f\uff0c\u6216\u8005\u662fKraken\u548cXStocks\u5408\u4f5c\u6240\u63a1\u7528\u7684\u65b9\u5f0f\uff0c\u9019\u5169\u7a2e\u65b9\u5f0f\u7684\u5171\u540c\u9ede\u5247\u662f\u90fd\u5c07\u7f8e\u80a1\u4ee3\u5e63\u8996\u70ba\u7d14\u73fe\u8ca8\u6301\u5009\u8cc7\u7522\uff0c\u7528\u6236\u80fd\u505a\u7684\u53ea\u6709\u8cb7\u5165\u6301\u6709\u5f85\u6f32\uff0c\u5f9e\u800c\u4f7f\u5176\u6210\u70ba&#8217;\u6c89\u7761\u8cc7\u7522&#8217;\uff0c\u7f3a\u4e4f\u53ef\u64f4\u5c55\u7684\u91d1\u878d\u529f\u80fd\u5c64\uff0c\u96e3\u4ee5\u652f\u6490\u6d3b\u8e8d\u7684\u93c8\u4e0a\u4ea4\u6613\u751f\u614b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%AD%A3%E5%8F%8D%E5%85%A9%E6%96%B9%E9%87%9D%E9%8B%92%E7%9B%B8%E5%B0%8D\"><\/span>\u6b63\u53cd\u5169\u65b9\u91dd\u92d2\u76f8\u5c0d<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u80a1\u7968\u4ee3\u5e63\u5316\u7684\u652f\u6301\u8005\u8868\u793a\uff0c\u4ee3\u5e63\u5316\u80a1\u7968\u80fd\u5920\u964d\u4f4e\u4ea4\u6613\u6210\u672c\u3001\u52a0\u5feb\u7d50\u7b97\u901f\u5ea6\uff0c\u4e26\u70ba\u5168\u5929\u5019\u4ea4\u6613\u63d0\u4f9b\u4fbf\u5229\u3002<\/p>\n\n\n\n<p>\u53cd\u5c0d\u8868\u793a\uff0c\u82e5\u9019\u4e9b\u4ee3\u5e63\u51fa\u73fe\u554f\u984c\uff0c\u80a1\u7968\u7684\u767c\u884c\u65b9\uff08\u5373\u90a3\u4e9b\u80a1\u7968\u88ab\u300c\u6a21\u4eff\u300d \u7684\u516c\u53f8\uff09\u53ef\u80fd\u6703\u9762\u81e8\u8072\u8b7d\u53d7\u640d\u7684\u98a8\u96aa\u3002WFE\u5c31\u8868\u793a\uff0c\u9019\u985e\u57fa\u65bc\u5340\u584a\u93c8\u6280\u8853\u7684\u4ee3\u5e63\u70ba\u6295\u8cc7\u8005\u5e36\u4f86\u4e86\u65b0\u98a8\u96aa\uff0c\u4e26\u53ef\u80fd\u640d\u5bb3\u5e02\u5834\u8aa0\u4fe1\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"138\" height=\"90\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2025\/09\/Tokenized_stock_GPT-Custom.jpg\" alt=\"\u80a1\u7968\u4ee3\u5e63\u5316\" class=\"wp-image-72187\"\/><\/figure>\n\n\n\n<p><em><strong>\u672c\u4eba\u70ba\u539f\u6587\u4f5c\u8005\uff0c\u672c\u6587\u7cbe\u83ef\u7248\u539f\u520a\u767b\u5728Smart\u667a\u5bcc\u6708<\/strong><\/em><strong><em>\u520b2025\u5e7411\u6708\u865f<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\"><\/span>\u76f8\u95dc\u6587\u7ae0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/11\/24\/%e8%82%a1%e7%a5%a8%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%ad%a3%e5%9c%a8%e9%a1%9b%e8%a6%86%e5%85%a8%e7%90%83%e9%87%91%e8%9e%8d%e5%b8%82%e5%a0%b4\/\">\u80a1\u7968\u4ee3\u5e63\u5316\u6b63\u5728\u985b\u8986\u5168\u7403\u91d1\u878d\u5e02\u5834<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/08\/18\/%E7%BE%85%E8%B3%93%E6%BC%A2%EF%BC%88robinhood%EF%BC%89%E5%A6%82%E4%BD%95%E8%B3%BA%E9%8C%A2%EF%BC%9F\/\">\u7f85\u8cd3\u6f22\uff08Robinhood\uff09\u5982\u4f55\u8cfa\u9322\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/08\/02\/%e7%a9%a9%e5%ae%9a%e5%b9%a3%e6%ad%a3%e5%bf%ab%e9%80%9f%e8%a2%ab%e8%b3%87%e6%9c%ac%e5%b8%82%e5%a0%b4%e6%8e%a5%e5%8f%97\/\">\u7a69\u5b9a\u5e63(Stablecoin)\u6b63\u5feb\u901f\u88ab\u5e02\u5834\u63a5\u53d7<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/16\/%e6%af%94%e7%89%b9%e5%b9%a3%e5%a3%9f%e6%96%b7%e5%8a%a0%e5%af%86%e8%b2%a8%e5%b9%a3%e5%b8%82%e5%a0%b4%e7%9a%84%e5%8e%9f%e5%9b%a0\/\">\u6bd4\u7279\u5e63\u58df\u65b7\u52a0\u5bc6\u8ca8\u5e63\u5e02\u5834\u7684\u539f\u56e0<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/03\/02\/%e7%be%8e%e5%9c%8b%e7%b5%82%e6%96%bc%e9%96%8b%e6%94%be%e6%af%94%e7%89%b9%e5%b9%a3etf%e7%8f%be%e8%b2%a8%e4%ba%a4%e6%98%93\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u7f8e\u570b\u6838\u6dee\u6bd4\u7279\u5e63ETF\u73fe\u8ca8\u4ea4\u6613\u5f71\u97ff\u6df1\u9060<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/11\/26\/%E4%B8%8D%E5%8B%99%E6%AD%A3%E6%A5%AD%E7%9A%84%E5%BE%AE%E7%AD%96%E7%95%A5Strategy%E6%AF%94%E7%89%B9%E5%B9%A3\/\">\u4e0d\u52d9\u6b63\u696d\u7684\u5fae\u7b56\u7565\uff08Strategy\uff09\u9760\u6bd4\u7279\u5e63\u767c\u5927\u8ca1<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/03\/12\/%E6%AF%94%E7%89%B9%E5%B9%A3%E5%86%8D%E6%94%80%E9%AB%98%E5%B3%B0%E7%9A%84%E5%8E%9F%E5%9B%A0\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6bd4\u7279\u5e63\u518d\u6500\u9ad8\u5cf0\u7684\u555f\u793a<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/12\/28\/coinbase%e5%92%8c%e5%b9%a3%e5%ae%89%e5%a6%82%e4%bd%95%e8%b3%ba%e9%8c%a2%e5%84%aa%e5%8b%a2%e7%9a%84%e6%af%94%e8%bc%83\/\" target=\"_blank\" rel=\"noreferrer noopener\">Coinbase\u548c\u5e63\u5b89\uff08Binance\uff09\u5982\u4f55\u8cfa\u9322\uff1f\u96d9\u65b9\u512a\u52e2\u7684\u6bd4\u8f03<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/01\/04\/%E5%8A%A0%E5%AF%86%E8%B2%A8%E5%B9%A3etf%E6%8E%A8%E5%8B%95%E7%9B%B8%E9%97%9C%E4%BC%81%E6%A5%AD%E5%A4%A7%E6%BC%B2\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u52a0\u5bc6\u8ca8\u5e63ETF\u63a8\u52d5\u76f8\u95dc\u4f01\u696d\u5927\u6f32<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/14\/%E6%8A%95%E8%B3%87%E5%8A%A0%E5%AF%86%E8%B2%A8%E5%B9%A3%E4%B8%8D%E5%A6%82%E6%8A%95%E8%B3%87%E7%9B%B8%E9%97%9C%E4%BC%81%E6%A5%AD\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u52a0\u5bc6\u8ca8\u5e63\u4e0d\u5982\u6295\u8cc7\u76f8\u95dc\u4f01\u696d<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/09\/12\/%e6%82%a8%e6%87%89%e8%a9%b2%e8%aa%8d%e8%ad%98square%e9%80%99%e5%ae%b6%e4%bc%81%e6%a5%ad\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u60a8\u61c9\u8a72\u8a8d\u8b58Square\u9019\u5bb6\u4f01\u696d\uff08\u516c\u53f8\u540d\u7a31\u5df2\u6539\u70baBlock\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/07\/06\/%E6%AF%94%E7%89%B9%E5%B9%A3%E7%9A%84%E7%8B%82%E7%86%B1%E6%94%AF%E6%8C%81%E8%80%85%E5%82%91%E5%85%8B%EF%BC%8E%E5%A4%9A%E8%A5%BF\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6bd4\u7279\u5e63\u7684\u72c2\u71b1\u652f\u6301\u8005\u5091\u514b\uff0e\u591a\u897f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/07\/16\/%E7%82%BA%E4%BB%80%E9%BA%BC%E7%94%A8paypal%E8%B2%B7%E6%AF%94%E7%89%B9%E5%B9%A3%E4%B8%8D%E6%98%AF%E5%80%8B%E5%A5%BD%E4%B8%BB%E6%84%8F%EF%BC%9F\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u70ba\u4ec0\u9ebc\u7528\u8c9d\u5bf6\uff08PayPal\uff09\u8cb7\u52a0\u5bc6\u8ca8\u5e63\u4e0d\u662f\u500b\u597d\u4e3b\u610f\uff1f<\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<p id=\"block-b602cc2b-45ae-45c0-a24c-5bec9bc06f95\"><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>\u672c\u7ad9\u5167\u5bb9\u70ba\u4f5c\u8005\u500b\u4eba\u610f\u898b\uff0c\u50c5\u4f9b\u53c3\u8003\uff0c\u672c\u4eba\u4e0d\u5c0d\u6587\u7ae0\u5167\u5bb9\u3001\u8cc7\u6599\u4e4b\u6b63\u78ba\u6027\u3001\u770b\u6cd5\u3001\u8207\u5373\u6642\u6027\u8ca0\u4efb\u4f55\u8cac\u4efb\uff0c\u8b80\u8005\u8acb\u52d9\u5fc5\u81ea\u884c\u5224\u65b7\u3002<\/em><\/li>\n\n\n\n<li><em>\u5c0d\u65bc\u8b80\u8005\u76f4\u63a5\u6216\u9593\u63a5\u4f9d\u8cf4\u4e26\u53c3\u8003\u672c\u7ad9\u8cc7\u8a0a\u5f8c\uff0c\u63a1\u53d6\u4efb\u4f55\u6295\u8cc7\u884c\u70ba\u6240\u5c0e\u81f4\u4e4b\u76f4\u63a5\u6216\u9593\u63a5\u640d\u5931\uff0c\u6216\u56e0\u6b64\u7522\u751f\u4e4b\u4e00\u5207\u8cac\u4efb<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u80a1\u7968\u4ee3\u5e63\u5316\u5c31\u662f\u628a\u539f\u672c\u5b58\u5728\u65bc\u50b3\u7d71\u4ea4\u6613\u6240\u88e1\u7684\u80a1\u7968\uff0c\u4ee5\u5340\u584a\u93c8\u4ee3\u5e63\u7684\u5f62\u5f0f\u6620\u5c04\u51fa\u4f86\uff0c\u6295\u8cc7\u8005\u4e0d\u9700\u8981\u901a\u904e\u5238\u5546\uff0c\u5c31\u80fd\u5728\u93c8\u4e0a7\u592924 \u5c0f\u6642\u3001\u8de8\u6642\u5340\u4ea4\u6613\u9019\u4e9b\u8cc7\u7522\u3002<\/p>\n","protected":false},"author":1,"featured_media":72187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[752,183,270,446,414],"tags":[1028,1715,362,1746,1745,1744,430,1323,1654,1714],"class_list":["post-71986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-cryptocurrency","category-new-technology","category-derivatives","category-fintech","tag-blk","tag-bybit","tag-coin","tag-etor","tag-gemi","tag-glxy","tag-hood","tag-kraken","tag-solana","tag-xstocks"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/71986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/comments?post=71986"}],"version-history":[{"count":62,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/71986\/revisions"}],"predecessor-version":[{"id":76170,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/71986\/revisions\/76170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/72187"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=71986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=71986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=71986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}