“I’m going to break your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin enthusiast, discussed Bitcoin ETF. He believed that his explanation would certainly make numerous crypto fanatics curious about the Bitcoin ETF take their steps back as it is a “dreadful suggestion”.
” I understand a great deal of people truly want to see an ETF take place due to the fact that “to the moon and also lambos!” But I assume it is a horrible concept. I still assume it is mosting likely to happen, I just assume it is a dreadful suggestion. I’m actually against ETFs. I believe a Bitcoin ETF is mosting likely to be harming to the ecosystem,” he stated.
Bitcoin ETF can manipulate costs
Relating To Bitcoin ETF’s capability of attracting significant amount of direct exposure, its emergence has actually given rise to expectations. It has additionally seen a rise in costs and also trading volumes once it has actually been approved.
ETFs can open up the Bitcoin market to a group of institutional investors and can additionally supply a system for large investors to adjust the rate of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he claimed: “Everybody is so fired up regarding ETFs. Exactly what we have actually seen in various other markets is that when an ETF becomes available, the rate truly increases drastically, as all of a sudden that commodity becomes available to a great deal more capitalists as well as these financiers pile on.
” Yet, the other side of it, is that there are constantly these insurance claims that the products markets are greatly manipulated and opening these ETFs only increase the ability of institutional investors to control the costs of assets.”