“I’m mosting likely to burst your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin lover, clarified Bitcoin ETF. He believed that his explanation would make a number of crypto enthusiasts interested in the Bitcoin ETF take their steps back as it is a “horrible suggestion”.
” I recognize a great deal of people truly intend to see an ETF happen due to the fact that “to the moon and also lambos!” But I assume it is a terrible concept. I still assume it is going to occur, I simply believe it is a dreadful idea. I’m in fact against ETFs. I assume a Bitcoin ETF is going to be harming to the ecosystem,” he claimed.
Bitcoin ETF could manipulate prices
Referring To Bitcoin ETF’s capability of attracting considerable amount of direct exposure, its emergence has triggered expectations. It has actually likewise seen a surge in rates and trading volumes once it has actually been accepted.
ETFs could open the Bitcoin market to a team of institutional capitalists as well as could also provide a system for large capitalists to manipulate the price of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he said: “Everyone is so thrilled concerning ETFs. What we have actually seen in other markets is that when an ETF becomes available, the cost actually enhances significantly, as instantly that asset appears to a whole lot extra investors as well as these financiers overdo.
” However, the opposite of it, is that there are constantly these claims that the products markets are greatly controlled and also opening up these ETFs just enhance the ability of institutional capitalists to manipulate the prices of assets.”