智通财经APP获悉，加密货币概念ETF延续涨势，截至发稿，南方两倍做多MSTR(07799)涨8.15%，报5.705港元；南方两倍做多Coinbase(07711)涨6.35%，报29.46港元。
消息面上，小摩近日发布宏观研判指出，出若市场对冲操作减弱，比特币相对表现将超越黄金。该行认为，黄金ETF已完全修复 2026年出现的资金流出，而比特币ETF仅恢复约一半。7月美联储会议后推动两类资产流入的“贬值交易”势头在过去一周因经通胀调整后的债券收益率上升及《清晰法案》在美国参议院未获通过而减弱。
对于《数字资产市场清晰法案》投票结果受挫，Bitwise(BITB.US)首席投资官Hougan认为，立法失败未必导致监管环境恶化，SEC和CFTC短期内仍可依靠现有权限制定规则，这种不确定性反而激发了市场对自主监管能力的重新评估。另有业内人士表示，尽管此前市场普遍担忧监管不确定性，但价格的强劲反弹与机构对周期转折的定调，标志着市场情绪发生了根本性逆转，资金流向与政策预期的博弈正在重塑当前的资产定价逻辑。
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