A Bitcoin fanatic, Andreas M. Antonopoulos has asserted, “I’m going to burst your bubble,” referring to the Bitcoin ETF that he warned as ‘‘terrible idea.” He expressed that his opinion is likely to demotivate a section of crypto enthusiasts regarding their stand on Bitcoin ETF.
“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 commented.
Since the ETF has the potential to attract attention from all corners, hence expectations have naturally developed. On getting authorised, the price and trading volume have also got pushed up. It is likely that ETFs will expose a greater number of institutional financiers to the Bitcoin market and provide a suitable platform for the investors to manage the top most cryptocurrency value.
In a YouTube video collection, ‘Bitcoin Q&A’, he commented, “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,” he said.