<p>在过去一年中，财富管理领域发生了一些根本性的变化。今天走进任何一家顾问公司，你都会听到同样的故事：客户不再问他们是否应该拥有加密货币，而是在问为什么他们的顾问还没有提到这个话题。</p>
<p>许多金融顾问所保持的抵制态度在 2026 年到来时几乎无法辩解。行业格局发生了剧烈变化，假装这一切没有发生可能会让顾问们付出比不愉快的对话更多的代价。</p>
<h2><strong>客户实际上在做什么</strong></h2>
<p>以下是应该让顾问们夜不能寐的事情。在 2025 年，零售投资者的加密货币持有量达到了不再能被视为边缘现象的水平。尤其是年轻投资者已经接受了数字资产，许多人将比特币 (CRYPTO: BTC) 和其他加密货币视为永久的投资组合组成部分，而不是投机交易。</p>
<p>真正的问题不仅仅是客户拥有加密货币，而是他们在其他地方购买它。相当一部分顾问客户在像 Coinbase Global Inc. (NASDAQ: COIN) 这样的交易所和其他平台上持有加密货币，完全不在顾问的视野之内。这些持有的资产在本应全面的财务规划中造成了盲点。</p>
<p>当客户在顾问无法看到的账户中持有大量财富时，这不仅仅是操作上的不便。这是一个关系问题。当主要资产持有存在于账外时，顾问无法正确评估风险敞口、协调税务策略或确保投资组合与客户目标保持一致。</p>
<p>顾问自身的转变揭示了行业的未来走向。在 2025 年，大约五分之一的顾问将加密货币纳入客户投资组合，这一比例是两年前的两倍。在 2025 年采取这一措施的顾问中，几乎所有人都表示计划在未来维持或扩大他们的加密货币配置。</p>
<p>2024 年的选举大大加速了这一势头。结果表明对数字资产的监管态度变得更加友好，使得犹豫不决的顾问对合规环境的改善充满信心。在 2025 年，这一预测在联邦框架的出现和保管规则的明确中得到了很大程度的验证。</p>
<h2><strong>是什么改变使这一切成为可能</strong></h2>
<p>多年来，顾问们有一个现成的借口。监管不明确，保管混乱，合规部门在每次加密货币对话开始之前就将其关闭。这样的世界已经不存在了。</p>
<p>特朗普总统在 2025 年 7 月签署了 GENIUS 法案，为国家提供了首个真正的稳定币联邦框架。该法律要求完全的美元支持，并制定了实际的监督标准。再也没有监管灰色地带。</p>
<p>美国证券交易委员会（SEC）在 12 月发布了关于经纪交易商如何持有加密证券的指导。州信托公司获得批准，成为合格的保管人。让顾问们说 “我们的手被束缚” 的合规障碍大多已经消失。</p>
<p>产品基础设施同样迅速发展。黑石集团 (NYSE: BLK) 推出了其比特币 ETF，iShares Bitcoin Trust (NASDAQ: IBIT)，该基金在创纪录的时间内达到了 700 亿美元，成为历史上最快达到这一目标的 ETF。该基金现在控制着超过 3% 的所有比特币 (CRYPTO: BTC)。</p>
<p>IBIT 的显著之处不仅在于资产增长。在 2025 年，尽管比特币本身的年回报为负，投资者仍向该基金注入了 250 亿美元。这不是热钱追逐势头，而是信念购买，表明机构对加密货币的需求已经超越了投机热潮。</p>
<p>当黑石将其比特币 ETF 列为 2025 年三个核心投资主题之一，与国债和大型科技股并列时，向行业传达了一个明确的信息。全球最大的资产管理公司宣称，比特币的投资代表了主流投资组合构建，而不是边缘投机。随着 2025 年的结束，这一定位在市场波动中依然保持稳固。</p>
<h2><strong>为什么 2026 年将成为一切改变的年份</strong></h2>
<p>最后一个拼图是大型金融机构的采纳。美国银行 (NYSE: BAC)、摩根大通 (NYSE: JPM) 和富国银行 (NYSE: WFC) 一起管理超过 1 万亿美元的资产。消息来源称，这些公司正在积极努力将比特币纳入其批准的投资名单。</p>
<p>当这些巨头批准加密货币配置时，游戏规则将完全改变。大型金融机构的决策过程缓慢而谨慎，每个决定都要经过多层合规审查。但一旦他们批准某项内容，就会向成千上万的小型顾问公司发出信号，表明一切都已准备就绪。分析师预测，一旦大型金融机构发出绿灯，RIA 的加密货币配置在 2026 年可能会翻倍。</p>
<p>2025 年内部动态也发生了变化。本月的研究显示，近四分之一的 RIA 公司的首席合规官个人拥有加密货币，26% 的人预计他们的公司将在未来两年内向客户提供加密货币。当合规的把关人个人投资时，批准就变成了何时的问题，而不是是否的问题。</p>
<p>目前，大多数建议投资加密货币的顾问将其配置限制在投资组合的 1% 到 5% 之间。这个范围让客户能够参与其中，而不会承担破坏投资组合的风险，平衡了受托责任与客户需求。</p>
<h2><strong>提前布局的商业案例</strong></h2>
<p>人口结构对拖延的顾问不利。年轻客户将加密货币的能力视为基本要求，而不是专业服务。他们不明白为什么他们的顾问无法帮助他们管理在 Coinbase Global Inc. (NASDAQ: COIN ) 上管理的资产，该平台服务于全球 1.2 亿人。</p>
<p>Ric Edelman，数字资产委员会的创始人，几年前还建议小额加密货币配置，现在则建议到 2025 年中期投资组合持有 10% 到 40% 的加密货币。这确实很激进，但显示了专家意见变化的速度。</p>
<p>运营障碍也已经消失。像 Orion 和 Envestnet 这样的公司提供的现代投资组合软件可以像处理共同基金一样轻松处理加密货币报告。税务报告已经标准化。曾经使得拒绝的行政负担已经消失。</p>
<h2><strong>顾问现在应该做的事情</strong></h2>
<p>建立合规框架需要时间。顾问需要了解保管规则，选择具有强大安全性的合格保管人，并记录他们的受托过程。等到其他人都已经提供加密货币服务时再行动，意味着在客户已经开始比较时追赶。</p>
<p>教育与合规同样重要。客户期望顾问解释比特币 (CRYPTO: BTC ) 作为通胀对冲的实际投资案例，或以太坊的收益生成，而不仅仅是处理文书工作。现在建立这一知识基础可以在竞争激烈之前创造竞争优势。</p>
<p>加密货币的讨论应该像任何其他投资讨论一样。客户的目标是什么？他们的风险承受能力如何？这如何融入他们的整体计划？一些客户将比特币视为多样化投资，其他人则希望获得技术曝光。顾问的工作是将配置与个人情况相匹配，而不是应用千篇一律的建议。</p>
<p>随着 2026 年的临近，顾问面临一个简单的选择。监管框架已经存在，产品也可用，机构参与者已经验证了这一资产类别，客户希望获得访问权限。现在建立深思熟虑的加密货币能力的顾问将增强客户关系和竞争地位。那些等待的顾问将在 2026 年向客户解释，为什么他们认为拥有的全面财务计划竟然排除了客户在其他地方已经拥有的一个主要资产类别。</p>
<p><strong><em>Benzinga 免责声明：本文来自一位未付的外部贡献者。它不代表 Benzinga 的报道，并且未经过内容或准确性的编辑。</em></strong></p>

GBTC

摩根大通

嘉楠科技

<p>财富管理领域发生了显著变化，客户对加密货币配置的询问日益增加。到 2025 年，五分之一的顾问将加密货币纳入投资组合，这一趋势受到更明确的监管和机构兴趣的推动，例如黑石的比特币 ETF。随着美国银行和摩根大通等大型公司考虑将比特币加入其投资名单，预测显示到 2026 年，注册投资顾问的加密货币配置可能会翻倍。这一变化反映了数字资产作为财务规划重要组成部分的日益接受，迫使顾问们适应这一趋势，否则将面临失去客户关系的风险</p>

<p>Something fundamental has shifted in wealth management over the past year. Walk into any advisory firm today and you’ll hear the same story: clients aren’t asking if they should own crypto anymore. They’re asking why their advisor hasn’t brought it up yet.</p>
<div class="lb-trans"><p>在过去一年中，财富管理领域发生了一些根本性的变化。今天走进任何一家顾问公司，你都会听到同样的故事：客户不再问他们是否应该拥有加密货币，而是在问为什么他们的顾问还没有提到这个话题。</p>
</div><p>The resistance many financial advisors have maintained has become nearly impossible to justify as 2026 arrives. The landscape has changed dramatically, and pretending otherwise might cost advisors more than just uncomfortable conversations.</p>
<div class="lb-trans"><p>许多金融顾问所保持的抵制态度在 2026 年到来时几乎无法辩解。行业格局发生了剧烈变化，假装这一切没有发生可能会让顾问们付出比不愉快的对话更多的代价。</p>
</div><h2><strong>What Clients Are Actually Doing</strong></h2>
<div class="lb-trans"><h2><strong>客户实际上在做什么</strong></h2>
</div><p>Here’s what should keep advisors up at night. Throughout 2025, crypto ownership among retail investors reached levels that can no longer be dismissed as a fringe phenomenon. Younger investors in particular have embraced digital assets, with many treating Bitcoin (CRYPTO: BTC) and other cryptocurrencies as permanent portfolio fixtures rather than speculative trades.</p>
<div class="lb-trans"><p>以下是应该让顾问们夜不能寐的事情。在 2025 年，零售投资者的加密货币持有量达到了不再能被视为边缘现象的水平。尤其是年轻投资者已经接受了数字资产，许多人将比特币 (CRYPTO: BTC) 和其他加密货币视为永久的投资组合组成部分，而不是投机交易。</p>
</div><p>The real issue isn’t simply that clients own crypto. It’s that they’re buying it elsewhere. A significant portion of advisory clients maintain cryptocurrency positions at exchanges like Coinbase Global Inc. (NASDAQ: COIN) and other platforms, completely outside their advisor’s view. These held away assets create blind spots in what should be comprehensive financial planning.</p>
<div class="lb-trans"><p>真正的问题不仅仅是客户拥有加密货币，而是他们在其他地方购买它。相当一部分顾问客户在像 Coinbase Global Inc. (NASDAQ: COIN) 这样的交易所和其他平台上持有加密货币，完全不在顾问的视野之内。这些持有的资产在本应全面的财务规划中造成了盲点。</p>
</div><p>When clients hold substantial wealth in accounts their advisor can’t see, that’s more than an operational inconvenience. It’s a relationship problem. Advisors can’t properly assess risk exposure, coordinate tax strategies, or ensure portfolios remain aligned with client goals when major asset holdings exist off the books.</p>
<div class="lb-trans"><p>当客户在顾问无法看到的账户中持有大量财富时，这不仅仅是操作上的不便。这是一个关系问题。当主要资产持有存在于账外时，顾问无法正确评估风险敞口、协调税务策略或确保投资组合与客户目标保持一致。</p>
</div><p>The shift among advisors themselves reveals where the industry is heading. Throughout 2025, roughly one in five advisors integrated crypto into client portfolios, double the rate from just two years earlier. Among those who took the plunge in 2025, nearly all have indicated plans to maintain or expand their crypto allocations going forward.</p>
<div class="lb-trans"><p>顾问自身的转变揭示了行业的未来走向。在 2025 年，大约五分之一的顾问将加密货币纳入客户投资组合，这一比例是两年前的两倍。在 2025 年采取这一措施的顾问中，几乎所有人都表示计划在未来维持或扩大他们的加密货币配置。</p>
</div><p>The 2024 election accelerated this momentum considerably. The outcome signaled a shift toward friendlier regulatory treatment of digital assets, giving hesitant advisors confidence that the compliance landscape would improve. Throughout 2025, that prediction largely bore out as federal frameworks emerged and custody rules gained clarity.</p>
<div class="lb-trans"><p>2024 年的选举大大加速了这一势头。结果表明对数字资产的监管态度变得更加友好，使得犹豫不决的顾问对合规环境的改善充满信心。在 2025 年，这一预测在联邦框架的出现和保管规则的明确中得到了很大程度的验证。</p>
</div><h2><strong>What Changed To Make This Possible</strong></h2>
<div class="lb-trans"><h2><strong>是什么改变使这一切成为可能</strong></h2>
</div><p>For years, advisors had a ready excuse. Regulation was unclear, custody was messy, and compliance departments shut down every crypto conversation before it started. That world doesn’t exist anymore.</p>
<div class="lb-trans"><p>多年来，顾问们有一个现成的借口。监管不明确，保管混乱，合规部门在每次加密货币对话开始之前就将其关闭。这样的世界已经不存在了。</p>
</div><p>President Trump signed the GENIUS Act in July 2025, giving the country its first real federal framework for stablecoins. The law requires full dollar backing and creates actual supervision standards. No more regulatory gray zone.</p>
<div class="lb-trans"><p>特朗普总统在 2025 年 7 月签署了 GENIUS 法案，为国家提供了首个真正的稳定币联邦框架。该法律要求完全的美元支持，并制定了实际的监督标准。再也没有监管灰色地带。</p>
</div><p>The SEC followed up in December with guidance on how broker dealers can hold crypto securities. State trust companies got approval to serve as qualified custodians. The compliance barriers that let advisors say “our hands are tied” have mostly disappeared.</p>
<div class="lb-trans"><p>美国证券交易委员会（SEC）在 12 月发布了关于经纪交易商如何持有加密证券的指导。州信托公司获得批准，成为合格的保管人。让顾问们说 “我们的手被束缚” 的合规障碍大多已经消失。</p>
</div><p>Product infrastructure evolved just as fast. BlackRock Inc. (NYSE: BLK) launched its Bitcoin ETF, iShares Bitcoin Trust (NASDAQ: IBIT), and the fund hit $70 billion in record time, getting there faster than any ETF in history. The fund now controls more than 3% of all Bitcoin (CRYPTO: BTC) in existence.</p>
<div class="lb-trans"><p>产品基础设施同样迅速发展。黑石集团 (NYSE: BLK) 推出了其比特币 ETF，iShares Bitcoin Trust (NASDAQ: IBIT)，该基金在创纪录的时间内达到了 700 亿美元，成为历史上最快达到这一目标的 ETF。该基金现在控制着超过 3% 的所有比特币 (CRYPTO: BTC)。</p>
</div><p>What’s remarkable about IBIT isn’t just the asset growth. Throughout 2025, investors poured $25 billion into the fund even as Bitcoin itself posted negative returns for the year. That’s not hot money chasing momentum. That’s conviction buying, and it demonstrated that institutional appetite for crypto exposure has matured beyond speculative fervor.</p>
<div class="lb-trans"><p>IBIT 的显著之处不仅在于资产增长。在 2025 年，尽管比特币本身的年回报为负，投资者仍向该基金注入了 250 亿美元。这不是热钱追逐势头，而是信念购买，表明机构对加密货币的需求已经超越了投机热潮。</p>
</div><p>When BlackRock named its Bitcoin ETF as one of three core investment themes for 2025, alongside Treasuries and big tech stocks, it sent an unmistakable message to the industry. The world’s biggest asset manager had declared that Bitcoin exposure represents mainstream portfolio construction, not fringe speculation. As we close out 2025, that positioning has held firm despite market volatility.</p>
<div class="lb-trans"><p>当黑石将其比特币 ETF 列为 2025 年三个核心投资主题之一，与国债和大型科技股并列时，向行业传达了一个明确的信息。全球最大的资产管理公司宣称，比特币的投资代表了主流投资组合构建，而不是边缘投机。随着 2025 年的结束，这一定位在市场波动中依然保持稳固。</p>
</div><h2><strong>Why 2026 Becomes The Year Everything Changes</strong></h2>
<div class="lb-trans"><h2><strong>为什么 2026 年将成为一切改变的年份</strong></h2>
</div><p>The last piece of the puzzle is wirehouse adoption. Bank of America Corp. (NYSE: BAC), JPMorgan Chase &amp; Co. (NYSE: JPM), and Wells Fargo &amp; Company (NYSE: WFC) together manage over $1 trillion. Sources suggest these firms are actively working on adding Bitcoin to their approved investment lists.</p>
<div class="lb-trans"><p>最后一个拼图是大型金融机构的采纳。美国银行 (NYSE: BAC)、摩根大通 (NYSE: JPM) 和富国银行 (NYSE: WFC) 一起管理超过 1 万亿美元的资产。消息来源称，这些公司正在积极努力将比特币纳入其批准的投资名单。</p>
</div><p>When these giants approve crypto allocations, the game changes completely. Wirehouses move slowly and deliberately, running every decision through layers of compliance review. But when they approve something, it sends a signal to thousands of smaller advisory firms that the coast is clear. Analysts project that RIA crypto allocations could more than double in 2026 once wirehouses give the green light.</p>
<div class="lb-trans"><p>当这些巨头批准加密货币配置时，游戏规则将完全改变。大型金融机构的决策过程缓慢而谨慎，每个决定都要经过多层合规审查。但一旦他们批准某项内容，就会向成千上万的小型顾问公司发出信号，表明一切都已准备就绪。分析师预测，一旦大型金融机构发出绿灯，RIA 的加密货币配置在 2026 年可能会翻倍。</p>
</div><p>The internal dynamics shifted throughout 2025 as well. Research this month shows that nearly a quarter of Chief Compliance Officers at RIA firms personally own crypto, and 26% expect their firms to offer it to clients within the next two years. When the compliance gatekeepers are personally invested, approval becomes a matter of when, not if.</p>
<div class="lb-trans"><p>2025 年内部动态也发生了变化。本月的研究显示，近四分之一的 RIA 公司的首席合规官个人拥有加密货币，26% 的人预计他们的公司将在未来两年内向客户提供加密货币。当合规的把关人个人投资时，批准就变成了何时的问题，而不是是否的问题。</p>
</div><p>Most advisors recommending crypto today stick to modest allocations between 1% and 5% of portfolios. That range lets clients participate without taking on portfolio breaking risk, balancing fiduciary duty with client demand.</p>
<div class="lb-trans"><p>目前，大多数建议投资加密货币的顾问将其配置限制在投资组合的 1% 到 5% 之间。这个范围让客户能够参与其中，而不会承担破坏投资组合的风险，平衡了受托责任与客户需求。</p>
</div><h2><strong>The Business Case For Getting Ahead Of This</strong></h2>
<div class="lb-trans"><h2><strong>提前布局的商业案例</strong></h2>
</div><p>Demographics are working against advisors who drag their feet. Younger clients view crypto competence as table stakes, not a specialty service. They don’t understand why their advisor can’t help them with assets they’re managing at Coinbase Global Inc. (NASDAQ: COIN), which serves 120 million people worldwide.</p>
<div class="lb-trans"><p>人口结构对拖延的顾问不利。年轻客户将加密货币的能力视为基本要求，而不是专业服务。他们不明白为什么他们的顾问无法帮助他们管理在 Coinbase Global Inc. (NASDAQ: COIN ) 上管理的资产，该平台服务于全球 1.2 亿人。</p>
</div><p>Ric Edelman, who started the Digital Assets Council, went from recommending tiny crypto allocations a few years ago to suggesting portfolios hold between 10% and 40% by mid 2025. That’s aggressive, sure, but it shows how fast expert opinion is moving.</p>
<div class="lb-trans"><p>Ric Edelman，数字资产委员会的创始人，几年前还建议小额加密货币配置，现在则建议到 2025 年中期投资组合持有 10% 到 40% 的加密货币。这确实很激进，但显示了专家意见变化的速度。</p>
</div><p>The operational barriers have collapsed too. Modern portfolio software from companies like Orion and Envestnet handles crypto reporting as easily as mutual funds. Tax reporting has standardized. The administrative burden that once justified saying no has evaporated.</p>
<div class="lb-trans"><p>运营障碍也已经消失。像 Orion 和 Envestnet 这样的公司提供的现代投资组合软件可以像处理共同基金一样轻松处理加密货币报告。税务报告已经标准化。曾经使得拒绝的行政负担已经消失。</p>
</div><h2><strong>What Advisors Should Do Right Now</strong></h2>
<div class="lb-trans"><h2><strong>顾问现在应该做的事情</strong></h2>
</div><p>Setting up the compliance framework takes time. Advisors need to understand custody rules, pick qualified custodians with strong security, and document their fiduciary process. Waiting until everyone else is already offering crypto means playing catch up when clients are already shopping around.</p>
<div class="lb-trans"><p>建立合规框架需要时间。顾问需要了解保管规则，选择具有强大安全性的合格保管人，并记录他们的受托过程。等到其他人都已经提供加密货币服务时再行动，意味着在客户已经开始比较时追赶。</p>
</div><p>Education matters just as much as compliance. Clients expect advisors to explain the actual investment case for Bitcoin (CRYPTO: BTC) as an inflation hedge or Ethereum’s yield generation, not just process paperwork. Building that knowledge base now creates competitive advantage before the rush starts.</p>
<div class="lb-trans"><p>教育与合规同样重要。客户期望顾问解释比特币 (CRYPTO: BTC ) 作为通胀对冲的实际投资案例，或以太坊的收益生成，而不仅仅是处理文书工作。现在建立这一知识基础可以在竞争激烈之前创造竞争优势。</p>
</div><p>The crypto conversation should look like any other investment discussion. What are the client’s goals? What’s their risk tolerance? How does this fit into their overall plan? Some clients see Bitcoin as diversification. Others want technology exposure. The advisor’s job is matching the allocation to the individual situation, not applying cookie cutter recommendations.</p>
<div class="lb-trans"><p>加密货币的讨论应该像任何其他投资讨论一样。客户的目标是什么？他们的风险承受能力如何？这如何融入他们的整体计划？一些客户将比特币视为多样化投资，其他人则希望获得技术曝光。顾问的工作是将配置与个人情况相匹配，而不是应用千篇一律的建议。</p>
</div><p>As 2026 approaches, advisors face a straightforward choice. The regulatory framework exists. Products are available. Institutional players have validated the asset class. Clients want access. Advisors who build thoughtful crypto capabilities now will strengthen client relationships and competitive positioning. Those who wait will spend 2026 explaining to clients why the comprehensive financial plan they thought they had somehow excluded a major asset class the client already owned elsewhere.</p>
<div class="lb-trans"><p>随着 2026 年的临近，顾问面临一个简单的选择。监管框架已经存在，产品也可用，机构参与者已经验证了这一资产类别，客户希望获得访问权限。现在建立深思熟虑的加密货币能力的顾问将增强客户关系和竞争地位。那些等待的顾问将在 2026 年向客户解释，为什么他们认为拥有的全面财务计划竟然排除了客户在其他地方已经拥有的一个主要资产类别。</p>
</div><p><strong><em>Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.</em></strong></p>
<div class="lb-trans"><p><strong><em>Benzinga 免责声明：本文来自一位未付的外部贡献者。它不代表 Benzinga 的报道，并且未经过内容或准确性的编辑。</em></strong></p>
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为什么金融顾问再也不能忽视加密货币配置模型