“I’m going to rupture your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin lover, described Bitcoin ETF. He felt that his explanation would make several crypto lovers thinking about the Bitcoin ETF take their go back as it is a “horrible concept”.
” I recognize a great deal of individuals truly intend to see an ETF occur because “to the moon and also lambos!” Yet I think it is an awful idea. I still assume it is mosting likely to take place, I just think it is a terrible concept. I’m actually versus ETFs. I think a Bitcoin ETF is mosting likely to be harming to the environment,” he claimed.
Bitcoin ETF can manipulate costs
Concerning Bitcoin ETF’s capacity of drawing in significant quantity of direct exposure, its introduction has actually given rise to expectations. It has actually likewise seen a rise in rates and trading quantities once it has actually been authorized.
ETFs could open up the Bitcoin market to a group of institutional capitalists as well as can additionally provide a platform for big financiers to manipulate the price of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he claimed: “Everybody is so thrilled concerning ETFs. Just what we have seen in other markets is that when an ETF becomes available, the price truly raises substantially, as unexpectedly that commodity appears to a lot extra financiers as well as these capitalists overdo.
” Yet, the opposite of it, is that there are always these cases that the commodities markets are greatly adjusted and opening up these ETFs just increase the ability of institutional investors to adjust the rates of products.”