“I’m mosting likely to burst your bubble,” this is how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, discussed Bitcoin ETF. He was of the opinion that his description would certainly make several crypto enthusiasts curious about the Bitcoin ETF take their go back as it is a “terrible concept”.
” I understand a lot of individuals actually want to see an ETF happen due to the fact that “to the moon as well as lambos!” However I assume it is a dreadful idea. I still assume it is going to take place, I simply assume it is a terrible idea. I’m really against ETFs. I believe a Bitcoin ETF is mosting likely to be damaging to the ecosystem,” he said.
Bitcoin ETF can manipulate costs
Relating To Bitcoin ETF’s ability of attracting significant amount of direct exposure, its emergence has generated assumptions. It has actually additionally seen a rise in rates as well as trading quantities once it has actually been approved.
ETFs could open up the Bitcoin market to a group of institutional investors and could also provide a platform for large financiers to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip collection, ‘Bitcoin Q&A’, he claimed: “Everyone is so excited regarding ETFs. Just what we have seen in other markets is that when an ETF appears, the cost really increases significantly, as all of a sudden that asset becomes available to a whole lot a lot more investors and these capitalists pile on.
” But, the opposite side of it, is that there are always these claims that the commodities markets are heavily controlled as well as opening up these ETFs only enhance the ability of institutional investors to adjust the prices of assets.”