<p>Destiny Tech100 是一只封闭式基金。与持续发行和赎回股份的交易所交易基金或传统共同基金不同，封闭式基金在首次公开募股时发行固定数量的股份，以筹集资金用于投资。之后，股份数量大多保持不变。投资者可以在股票市场上买卖该基金的股份，但新资金通常不会流入基础投资。</p>
<p>换句话说，当投资者交易 Destiny Tech100 时，他们是在相互交易基金的股份，而不是直接投资于像 SpaceX 或 Anthropic 这样的私人公司。</p>
<p>封闭式基金的交易价格通常低于其净资产值（NAV），这反映了其持有资产的价值减去运营基金的成本等多个因素。但 Destiny Tech100 仅在每季度计算一次其 NAV，这意味着投资者在其财政第二季度结束之前不会获得其公允价值的更新。</p>
<p>截至 3 月 31 日，Destiny Tech100 的 NAV 为每股 24.56 美元，而根据 FactSet 数据，截至周一下午，其市值超过 10 亿美元，或每股 71.24 美元，周二回落。</p>
<p>这一曾经达到 NAV 的 190% 溢价提醒投资者，封闭式基金的价格可能与实际价值 &#34;显著偏离&#34;，Zacks Investment Research 的 ETF 研究主管 Neena Mishra 说道。</p>
<p>&#34;像 Destiny Tech100 或 Fundrise Innovation Fund VCX 这样的基金存在很多不透明性，&#34; Mishra 周二通过电话告诉 MarketWatch，&#34;因此完全缺乏透明度，并且它们非常昂贵。&#34; &#34;投资者往往在炒作激增时蜂拥而入，因此很多人最终在这些困难且波动的证券中亏损。&#34;</p>
<p>Prasad、Destiny Tech100 和 Anthropic 并未立即回应 MarketWatch 的评论请求。</p>
<p>阅读更多：'DRAM' 内存 ETF 开局火爆，杠杆版即将来袭。</p>
<p>-William Gavin -Isabel Wang</p>
<p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 独立于道琼斯新闻通讯和华尔街日报发布。</p>
<p>（结束）道琼斯新闻通讯</p>
<p>05-13-26 1223ET</p>

DXYZ

<p>Destiny Tech100 是一只封闭式基金，发行固定数量的股份，允许投资者在股票市场上交易，而无需直接投资于私营公司。它每季度计算一次净资产值（NAV），最近的每股净资产值为 24.56 美元，而以每股 71.24 美元的市场价格交易，市值超过 10 亿美元，反映出 190% 的溢价。专家警告称，此类基金存在不透明和高成本的问题，提醒投资者在炒作驱动的交易中可能会遭受损失</p>

<p>Destiny Tech100 is a closed-end fund. Unlike an exchange-traded fund or a traditional mutual fund that continuously issues and redeems shares, a closed-end fund issues a fixed number of shares at its initial public offering to raise capital that is plowed into its investments. After that, the number of shares mostly stays the same. Investors can buy and sell shares of the fund on the stock market, but new money typically does not flow into the underlying investments.</p>
<div class="lb-trans"><p>Destiny Tech100 是一只封闭式基金。与持续发行和赎回股份的交易所交易基金或传统共同基金不同，封闭式基金在首次公开募股时发行固定数量的股份，以筹集资金用于投资。之后，股份数量大多保持不变。投资者可以在股票市场上买卖该基金的股份，但新资金通常不会流入基础投资。</p>
</div><p>In other words, when investors trade Destiny Tech100, they are trading the fund's shares with each other, not directly investing in private companies such as SpaceX or Anthropic.</p>
<div class="lb-trans"><p>换句话说，当投资者交易 Destiny Tech100 时，他们是在相互交易基金的股份，而不是直接投资于像 SpaceX 或 Anthropic 这样的私人公司。</p>
</div><p>Closed-end funds often trade at a discount to their net asset value, or NAV, reflecting, among other factors, the value of their holdings minus the cost of operating the fund. But Destiny Tech100 only computes its NAV quarterly, which means investors will not get an update on its fair value until the end of its fiscal second quarter.</p>
<div class="lb-trans"><p>封闭式基金的交易价格通常低于其净资产值（NAV），这反映了其持有资产的价值减去运营基金的成本等多个因素。但 Destiny Tech100 仅在每季度计算一次其 NAV，这意味着投资者在其财政第二季度结束之前不会获得其公允价值的更新。</p>
</div><p>Destiny Tech100 had a NAV of $24.56 a share as of March 31, while its market capitalization stood at over $1 billion, or $71.24 per share, as of Monday afternoon, before pulling back on Tuesday, according to FactSet data.</p>
<div class="lb-trans"><p>截至 3 月 31 日，Destiny Tech100 的 NAV 为每股 24.56 美元，而根据 FactSet 数据，截至周一下午，其市值超过 10 亿美元，或每股 71.24 美元，周二回落。</p>
</div><p>That one-time 190% premium to its NAV is a reminder for investors that the price of the closed-end fund can &#34;deviate significantly&#34; from the actual value, said Neena Mishra, director of ETF research at Zacks Investment Research.</p>
<div class="lb-trans"><p>这一曾经达到 NAV 的 190% 溢价提醒投资者，封闭式基金的价格可能与实际价值 &#34;显著偏离&#34;，Zacks Investment Research 的 ETF 研究主管 Neena Mishra 说道。</p>
</div><p>&#34;There is a lot of opacity&#34; for funds like Destiny Tech100 or Fundrise Innovation Fund VCX, &#34;so there's a total lack of transparency and they are very expensive,&#34; Mishra told MarketWatch via phone on Tuesday. &#34;Investors tend to pile in when the hype surges, so probably many end up losing money in these hard and volatile securities.&#34;</p>
<div class="lb-trans"><p>&#34;像 Destiny Tech100 或 Fundrise Innovation Fund VCX 这样的基金存在很多不透明性，&#34; Mishra 周二通过电话告诉 MarketWatch，&#34;因此完全缺乏透明度，并且它们非常昂贵。&#34; &#34;投资者往往在炒作激增时蜂拥而入，因此很多人最终在这些困难且波动的证券中亏损。&#34;</p>
</div><p>Prasad, Destiny Tech100 and Anthropic did not immediately respond to MarketWatch's requests for comment.</p>
<div class="lb-trans"><p>Prasad、Destiny Tech100 和 Anthropic 并未立即回应 MarketWatch 的评论请求。</p>
</div><p>Read more: The 'DRAM' memory ETF has gotten off to a blazing start. Here comes a leveraged version.</p>
<div class="lb-trans"><p>阅读更多：'DRAM' 内存 ETF 开局火爆，杠杆版即将来袭。</p>
</div><p>-William Gavin -Isabel Wang</p>
<div class="lb-trans"><p>-William Gavin -Isabel Wang</p>
</div><p>This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.</p>
<div class="lb-trans"><p>此内容由 MarketWatch 创建，MarketWatch 由道琼斯公司运营。MarketWatch 独立于道琼斯新闻通讯和华尔街日报发布。</p>
</div><p>(END) Dow Jones Newswires</p>
<div class="lb-trans"><p>（结束）道琼斯新闻通讯</p>
</div><p>05-13-26 1223ET</p>
<div class="lb-trans"><p>05-13-26 1223ET</p>
</div>

为什么一个备受关注的基金宣传持有热门股份 -2-