“I’m going to break your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin fanatic, explained Bitcoin ETF. He was of the opinion that his description would make several crypto fanatics interested in the Bitcoin ETF take their steps back as it is a “awful concept”.
” I understand a lot of individuals truly wish to see an ETF occur since “to the moon and lambos!” Yet I assume it is an awful idea. I still assume it is mosting likely to take place, I just think it is a dreadful suggestion. I’m really versus ETFs. I assume a Bitcoin ETF is going to be damaging to the ecosystem,” he stated.
Bitcoin ETF could manipulate rates
Pertaining to Bitcoin ETF’s capacity of drawing in considerable quantity of exposure, its appearance has actually triggered assumptions. It has actually likewise seen a surge in prices and trading volumes once it has actually been approved.
ETFs could open up the Bitcoin market to a group of institutional capitalists as well as could also supply a system for huge financiers to manipulate the rate of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he said: “Everybody is so ecstatic about ETFs. Just what we have actually seen in various other markets is that when an ETF appears, the price truly enhances significantly, as unexpectedly that product becomes available to a whole lot more investors and also these capitalists pile on.
” Yet, the other side of it, is that there are always these cases that the assets markets are greatly adjusted as well as opening up these ETFs just raise the capability of institutional financiers to manipulate the costs of commodities.”