“I’m going to rupture your bubble,” this is just how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, clarified Bitcoin ETF. He believed that his explanation would certainly make numerous crypto lovers thinking about the Bitcoin ETF take their steps back as it is a “terrible idea”.
” I know a lot of individuals truly intend to see an ETF happen due to the fact that “to the moon as well as lambos!” Yet I believe it is a dreadful concept. I still believe it is mosting likely to take place, I simply believe it is an awful concept. I’m actually against ETFs. I believe a Bitcoin ETF is mosting likely to be harming to the ecosystem,” he stated.
Bitcoin ETF can control rates
Relating To Bitcoin ETF’s capacity of attracting considerable quantity of direct exposure, its development has actually generated assumptions. It has actually also seen a rise in rates as well as trading volumes once it has actually been authorized.
ETFs could open the Bitcoin market to a group of institutional capitalists as well as could likewise offer a system for huge financiers to manipulate the rate of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he claimed: “Everybody is so ecstatic concerning ETFs. Exactly what we have seen in other markets is that when an ETF becomes available, the rate actually increases substantially, as suddenly that commodity appears to a great deal more investors and also these investors overdo.
” But, the opposite of it, is that there are always these cases that the products markets are heavily manipulated and opening up these ETFs only increase the capability of institutional capitalists to adjust the prices of products.”