“I’m mosting likely to burst your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin lover, clarified Bitcoin ETF. He felt that his explanation would certainly make numerous crypto enthusiasts interested in the Bitcoin ETF take their go back as it is a “awful concept”.
” I understand a lot of individuals truly wish to see an ETF happen because “to the moon and lambos!” However I think it is a dreadful idea. I still assume it is mosting likely to occur, I simply assume it is a horrible concept. I’m actually against ETFs. I think a Bitcoin ETF is going to be damaging to the ecosystem,” he claimed.
Bitcoin ETF could manipulate rates
Concerning Bitcoin ETF’s ability of attracting considerable amount of direct exposure, its appearance has given rise to assumptions. It has actually also seen a rise in prices and trading quantities once it has been approved.
ETFs can open the Bitcoin market to a team of institutional financiers and could additionally supply a system for big financiers to adjust the cost of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he claimed: “Everyone is so fired up regarding ETFs. Exactly what we have seen in other markets is that when an ETF becomes available, the price actually increases dramatically, as instantly that asset appears to a lot more capitalists as well as these financiers pile on.
” But, the opposite of it, is that there are constantly these claims that the assets markets are heavily manipulated as well as opening these ETFs just increase the capability of institutional financiers to control the prices of products.”