“I’m going to burst your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin lover, explained Bitcoin ETF. He felt that his description would certainly make a number of crypto lovers thinking about the Bitcoin ETF take their go back as it is a “horrible suggestion”.
” I understand a lot of individuals actually want to see an ETF occur due to the fact that “to the moon and also lambos!” However I assume it is a dreadful idea. I still think it is mosting likely to take place, I just assume it is a dreadful idea. I’m actually against ETFs. I think a Bitcoin ETF is mosting likely to be damaging to the ecological community,” he stated.
Bitcoin ETF can manipulate prices
Concerning Bitcoin ETF’s ability of drawing in significant quantity of direct exposure, its introduction has actually triggered expectations. It has actually likewise seen a rise in rates and also trading volumes once it has been accepted.
ETFs could open the Bitcoin market to a team of institutional investors and can likewise supply a platform for big financiers to manipulate the price of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he claimed: “Everyone is so thrilled about ETFs. Exactly what we have seen in various other markets is that when an ETF appears, the price truly boosts dramatically, as suddenly that asset becomes available to a whole lot a lot more financiers and also these investors overdo.
” Yet, the opposite side of it, is that there are constantly these claims that the commodities markets are heavily adjusted and also opening these ETFs only boost the ability of institutional capitalists to control the prices of commodities.”