“I’m going to rupture your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, described Bitcoin ETF. He was of the opinion that his explanation would make several crypto lovers curious about the Bitcoin ETF take their steps back as it is a “horrible concept”.
” I know a lot of individuals really want to see an ETF happen due to the fact that “to the moon and lambos!” Yet I think it is a horrible idea. I still think it is going to occur, I just think it is a dreadful suggestion. I’m in fact against ETFs. I think a Bitcoin ETF is mosting likely to be damaging to the community,” he said.
Bitcoin ETF could manipulate costs
Referring To Bitcoin ETF’s capacity of drawing in significant amount of direct exposure, its appearance has actually triggered expectations. It has likewise seen a rise in costs as well as trading volumes once it has been accepted.
ETFs can open up the Bitcoin market to a team of institutional investors and could also offer a platform for large investors to control the rate of Bitcoin (BTC). Antonopoulos in his YouTube video clip collection, ‘Bitcoin Q&A’, he stated: “Everyone is so fired up about ETFs. Exactly what we have actually seen in various other markets is that when an ETF appears, the price really boosts drastically, as instantly that asset appears to a whole lot much more financiers as well as these financiers overdo.
” However, the opposite of it, is that there are constantly these cases that the assets markets are heavily controlled and also opening these ETFs just increase the ability of institutional capitalists to manipulate the rates of products.”