“I’m going to break your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin fanatic, clarified Bitcoin ETF. He was of the opinion that his description would certainly make a number of crypto enthusiasts curious about the Bitcoin ETF take their go back as it is a “awful idea”.
” I recognize a lot of individuals actually intend to see an ETF occur since “to the moon as well as lambos!” But I think it is a dreadful concept. I still assume it is going to occur, I just believe it is an awful concept. I’m actually against ETFs. I think a Bitcoin ETF is going to be damaging to the community,” he claimed.
Bitcoin ETF can manipulate costs
Referring To Bitcoin ETF’s ability of attracting significant amount of exposure, its introduction has actually triggered expectations. It has actually additionally seen a rise in costs as well as trading volumes once it has been authorized.
ETFs could open the Bitcoin market to a group of institutional capitalists as well as can additionally supply a system for big capitalists to manipulate the price of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he said: “Everyone is so ecstatic regarding ETFs. Exactly what we have seen in other markets is that when an ETF appears, the price actually boosts drastically, as all of a sudden that asset appears to a whole lot a lot more capitalists and also these investors pile on.
” However, the other side of it, is that there are always these claims that the products markets are greatly manipulated and also opening up these ETFs just raise the ability of institutional financiers to control the costs of assets.”