“I’m going to burst your bubble,” this is how Andreas M. Antonopoulos, a significant Bitcoin fanatic, clarified Bitcoin ETF. He was of the opinion that his explanation would make a number of crypto fanatics thinking about the Bitcoin ETF take their steps back as it is a “terrible idea”.
” I recognize a lot of people really wish to see an ETF occur because “to the moon and also lambos!” However I assume it is an awful concept. I still believe it is mosting likely to occur, I just assume it is a dreadful concept. I’m really versus ETFs. I believe a Bitcoin ETF is mosting likely to be harming to the environment,” he stated.
Bitcoin ETF could control costs
Concerning Bitcoin ETF’s ability of attracting significant quantity of direct exposure, its development has generated expectations. It has actually likewise seen a rise in prices and trading volumes once it has actually been authorized.
ETFs could open up the Bitcoin market to a group of institutional financiers as well as can likewise offer a platform for huge investors to control the cost of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he stated: “Everyone is so ecstatic about ETFs. What we have seen in other markets is that when an ETF becomes available, the rate actually increases substantially, as instantly that commodity becomes available to a lot much more investors and these capitalists pile on.
” Yet, the other side of it, is that there are constantly these cases that the commodities markets are heavily manipulated as well as opening up these ETFs only increase the ability of institutional capitalists to manipulate the costs of assets.”