“I’m going to rupture your bubble,” this is just how Andreas M. Antonopoulos, a major Bitcoin enthusiast, discussed Bitcoin ETF. He was of the opinion that his explanation would certainly make several crypto enthusiasts thinking about the Bitcoin ETF take their go back as it is a “dreadful suggestion”.
” I know a lot of individuals actually wish to see an ETF take place since “to the moon and lambos!” However I believe it is an awful suggestion. I still believe it is mosting likely to occur, I just believe it is a terrible suggestion. I’m in fact against ETFs. I assume a Bitcoin ETF is going to be damaging to the ecological community,” he stated.
Bitcoin ETF could manipulate prices
Relating To Bitcoin ETF’s capability of attracting significant amount of exposure, its development has actually triggered expectations. It has actually additionally seen a rise in costs and trading volumes once it has actually been authorized.
ETFs can open the Bitcoin market to a group of institutional investors as well as can also give a system for big financiers to manipulate the rate of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he claimed: “Everyone is so ecstatic about ETFs. What we have actually seen in various other markets is that when an ETF appears, the price truly boosts drastically, as instantly that asset becomes available to a lot extra financiers and these investors overdo.
” However, the other side of it, is that there are constantly these claims that the assets markets are heavily controlled as well as opening up these ETFs just enhance the ability of institutional financiers to control the costs of commodities.”