" Don't assume that just because it's an ETF, it's safe."

“不要仅仅因为是ETF，就认为它很安全。”

Purists, meanwhile, would have preferred an ETF that holds bitcoin directly.

与此同时，纯粹主义者更喜欢直接持有比特币的交易基金。

For example, BlackRock, the biggest ETF firm, gives firms guidance on strategy and environmental policy.

例如，最大的ETF公司黑石集团在战略和环境政策方面为企业提供指导。

And those are the biggest advantages for ETFs over mutual funds.

这些是 ETF 基金相对于公募基金的最大优势。

A typical ETF charges 0.1% a year, compared with perhaps 1% for an active fund.

典型的ETF每年收取0.1%的费用，相比之下，主动型基金可能收取1%的费用。

A straight bitcoin ETF, however, is some way off.

然而，直接推出比特币交易基金还有一段路要走。

Essele says, who calls this disconnect " the main structural pitfall" of junk bond ETFs.

Essele说到，他将这种脱节称为垃圾债券ETFs的“主要结构性陷阱”。

ETFs usually, when it comes to fees, are significantly less expensive, and there are no minimums in most cases.

谈到费用，ETF 通常要便宜得多，而且在大多数情况下没有最低价格。

Like mutual funds, ETFs invest in a range of stocks, bonds, and commodities, which helps spread the overall risk.

与共同基金一样，交易所交易基金投资于一系列股票、债券和大宗商品，这有助于分散整体风险。

There was certainly early enthusiasm: the price of shares in the ETF rose by 4% on its debut.

当然，早期的热情是存在的：交易所交易基金的股票价格在上市首日上涨了4%。