“I’m going to break your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin fanatic, clarified Bitcoin ETF. He believed that his explanation would certainly make several crypto fanatics interested in the Bitcoin ETF take their steps back as it is a “awful idea”.
” I recognize a lot of people truly wish to see an ETF happen because “to the moon and also lambos!” But I believe it is a terrible idea. I still believe it is going to take place, I simply believe it is an awful concept. I’m in fact against ETFs. I think a Bitcoin ETF is mosting likely to be damaging to the community,” he claimed.
Bitcoin ETF can manipulate prices
Relating To Bitcoin ETF’s ability of bring in substantial quantity of exposure, its development has actually generated assumptions. It has actually additionally seen a surge in prices and trading volumes once it has been authorized.
ETFs could open up the Bitcoin market to a team of institutional financiers and can additionally give a platform for huge capitalists to control the price of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he said: “Everyone is so thrilled about ETFs. What we have seen in other markets is that when an ETF appears, the rate really increases substantially, as all of a sudden that product becomes available to a whole lot much more investors and also these investors pile on.
” However, the other side of it, is that there are constantly these cases that the products markets are heavily adjusted and also opening these ETFs only raise the ability of institutional financiers to adjust the rates of products.”