“I’m mosting likely to break your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin enthusiast, explained Bitcoin ETF. He felt that his explanation would make a number of crypto enthusiasts interested in the Bitcoin ETF take their go back as it is a “dreadful concept”.
” I understand a lot of individuals actually intend to see an ETF take place because “to the moon and lambos!” However I think it is a horrible idea. I still think it is mosting likely to occur, I just believe it is a horrible concept. I’m in fact versus ETFs. I believe a Bitcoin ETF is mosting likely to be damaging to the ecological community,” he said.
Bitcoin ETF can manipulate prices
Pertaining to Bitcoin ETF’s ability of bring in significant amount of direct exposure, its development has generated assumptions. It has actually also seen a surge in rates and trading volumes once it has actually been authorized.
ETFs can open the Bitcoin market to a team of institutional capitalists and also can likewise give a platform for big investors to manipulate the rate of Bitcoin (BTC). Antonopoulos in his YouTube video clip collection, ‘Bitcoin Q&A’, he stated: “Everybody is so excited about ETFs. Just what we have seen in other markets is that when an ETF appears, the rate really raises considerably, as all of a sudden that product becomes available to a whole lot much more investors and also these financiers pile on.
” But, the opposite side of it, is that there are always these insurance claims that the products markets are heavily controlled and opening these ETFs only raise the ability of institutional financiers to manipulate the rates of products.”