“I’m going to burst your bubble,” this is how Andreas M. Antonopoulos, a significant Bitcoin lover, explained Bitcoin ETF. He believed that his explanation would certainly make a number of crypto fanatics curious about the Bitcoin ETF take their steps back as it is a “awful concept”.
” I know a lot of people really want to see an ETF occur because “to the moon and lambos!” But I think it is a horrible idea. I still assume it is going to occur, I simply think it is a dreadful idea. I’m actually against ETFs. I think a Bitcoin ETF is mosting likely to be damaging to the ecosystem,” he stated.
Bitcoin ETF can manipulate prices
Concerning Bitcoin ETF’s capability of attracting significant amount of exposure, its introduction has actually given rise to assumptions. It has also seen a surge in rates and trading volumes once it has been authorized.
ETFs could open up the Bitcoin market to a team of institutional investors and also could additionally supply a platform for big investors to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he claimed: “Everybody is so thrilled about ETFs. Just what we have seen in other markets is that when an ETF appears, the price truly boosts dramatically, as unexpectedly that product becomes available to a lot much more capitalists and also these financiers overdo.
” Yet, the opposite of it, is that there are always these insurance claims that the assets markets are heavily controlled and also opening these ETFs only enhance the capability of institutional capitalists to adjust the rates of commodities.”