“I’m going to break your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin fanatic, described Bitcoin ETF. He was of the opinion that his explanation would certainly make a number of crypto enthusiasts curious about the Bitcoin ETF take their go back as it is a “terrible concept”.
” I understand a great deal of individuals really intend to see an ETF happen because “to the moon and lambos!” But I think it is a dreadful idea. I still believe it is mosting likely to take place, I simply assume it is a dreadful suggestion. I’m really versus ETFs. I believe a Bitcoin ETF is mosting likely to be damaging to the ecological community,” he said.
Bitcoin ETF can adjust rates
Relating To Bitcoin ETF’s ability of attracting considerable amount of direct exposure, its development has generated expectations. It has actually additionally seen a surge in rates and trading quantities once it has actually been accepted.
ETFs could open up the Bitcoin market to a team of institutional investors as well as can additionally supply a platform for huge investors to manipulate the rate of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he said: “Everyone is so fired up regarding ETFs. What we have seen in other markets is that when an ETF becomes available, the price really boosts substantially, as suddenly that product appears to a whole lot more investors as well as these investors overdo.
” Yet, the opposite side of it, is that there are always these cases that the assets markets are heavily manipulated as well as opening these ETFs just enhance the capacity of institutional financiers to manipulate the rates of assets.”