“I’m going to burst your bubble,” this is how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, clarified Bitcoin ETF. He believed that his description would make numerous crypto fanatics interested in the Bitcoin ETF take their steps back as it is a “terrible suggestion”.
” I recognize a great deal of people really intend to see an ETF take place because “to the moon as well as lambos!” However I believe it is an awful concept. I still believe it is going to happen, I simply think it is a terrible idea. I’m in fact against ETFs. I assume a Bitcoin ETF is mosting likely to be damaging to the ecological community,” he stated.
Bitcoin ETF could manipulate rates
Pertaining to Bitcoin ETF’s capability of drawing in significant amount of direct exposure, its appearance has generated expectations. It has actually also seen a rise in costs and also trading quantities once it has actually been authorized.
ETFs could open up the Bitcoin market to a team of institutional financiers and can also provide a platform for big investors to control the price of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he claimed: “Everyone is so fired up regarding ETFs. Just what we have seen in other markets is that when an ETF becomes available, the price truly boosts drastically, as suddenly that commodity becomes available to a great deal a lot more investors and these investors pile on.
” Yet, the opposite of it, is that there are always these claims that the assets markets are heavily adjusted and opening up these ETFs only increase the capability of institutional financiers to adjust the prices of products.”