“I’m going to burst your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin enthusiast, described Bitcoin ETF. He felt that his explanation would make numerous crypto fanatics thinking about the Bitcoin ETF take their steps back as it is a “horrible suggestion”.
” I understand a great deal of individuals really want to see an ETF occur since “to the moon and lambos!” But I assume it is a dreadful suggestion. I still believe it is mosting likely to happen, I just think it is an awful suggestion. I’m really versus ETFs. I think a Bitcoin ETF is going to be harming to the environment,” he said.
Bitcoin ETF could manipulate prices
Relating To Bitcoin ETF’s capacity of bring in substantial quantity of exposure, its emergence has triggered expectations. It has also seen a surge in prices and also trading quantities once it has actually been accepted.
ETFs could open up the Bitcoin market to a group of institutional financiers as well as could additionally offer a platform for huge investors to control the price of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he claimed: “Everyone is so excited concerning ETFs. Just what we have seen in other markets is that when an ETF becomes available, the cost truly increases considerably, as all of a sudden that commodity becomes available to a lot extra investors as well as these financiers overdo.
” However, the other side of it, is that there are always these cases that the commodities markets are heavily controlled and opening these ETFs just increase the capability of institutional capitalists to manipulate the prices of assets.”