“I’m going to rupture your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin lover, discussed Bitcoin ETF. He believed that his description would make a number of crypto fanatics thinking about the Bitcoin ETF take their go back as it is a “dreadful concept”.
” I know a great deal of people truly wish to see an ETF occur since “to the moon and also lambos!” However I believe it is an awful concept. I still think it is mosting likely to occur, I simply assume it is a terrible idea. I’m actually versus ETFs. I believe a Bitcoin ETF is mosting likely to be damaging to the ecosystem,” he claimed.
Bitcoin ETF can adjust costs
Pertaining to Bitcoin ETF’s capability of bring in substantial amount of exposure, its development has actually triggered expectations. It has additionally seen a rise in rates and trading volumes once it has actually been accepted.
ETFs can open up the Bitcoin market to a team of institutional financiers and can also offer a platform for large financiers to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he stated: “Everyone is so fired up regarding ETFs. What we have actually seen in various other markets is that when an ETF appears, the price actually increases dramatically, as instantly that product appears to a whole lot extra investors as well as these investors pile on.
” Yet, the other side of it, is that there are constantly these insurance claims that the products markets are heavily controlled and also opening up these ETFs just enhance the ability of institutional capitalists to adjust the prices of products.”