“I’m mosting likely to rupture your bubble,” this is just how Andreas M. Antonopoulos, a major Bitcoin fanatic, described Bitcoin ETF. He felt that his description would certainly make a number of crypto enthusiasts interested in the Bitcoin ETF take their go back as it is a “dreadful idea”.
” I know a great deal of individuals really intend to see an ETF occur because “to the moon and lambos!” But I believe it is a terrible concept. I still believe it is going to happen, I simply believe it is an awful suggestion. I’m actually against ETFs. I believe a Bitcoin ETF is going to be damaging to the ecosystem,” he stated.
Bitcoin ETF can manipulate prices
Relating To Bitcoin ETF’s capability of attracting significant amount of exposure, its development has triggered assumptions. It has actually also seen a rise in rates as well as trading quantities once it has actually been authorized.
ETFs can open the Bitcoin market to a group of institutional financiers and also could likewise provide a system for large financiers to adjust the price of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he said: “Everyone is so thrilled regarding ETFs. What we have actually seen in other markets is that when an ETF appears, the price really boosts dramatically, as instantly that product becomes available to a lot extra financiers as well as these financiers pile on.
” But, the other side of it, is that there are constantly these cases that the commodities markets are heavily adjusted and opening up these ETFs only boost the capacity of institutional financiers to manipulate the rates of commodities.”