“I’m mosting likely to burst your bubble,” this is just how Andreas M. Antonopoulos, a major Bitcoin enthusiast, clarified Bitcoin ETF. He was of the opinion that his explanation would make numerous crypto enthusiasts curious about the Bitcoin ETF take their go back as it is a “awful concept”.
” I understand a great deal of people truly wish to see an ETF take place due to the fact that “to the moon and lambos!” However I believe it is an awful idea. I still believe it is going to occur, I just think it is an awful idea. I’m actually versus ETFs. I think a Bitcoin ETF is mosting likely to be harming to the ecosystem,” he stated.
Bitcoin ETF can manipulate prices
Relating To Bitcoin ETF’s ability of bring in substantial quantity of direct exposure, its introduction has actually triggered expectations. It has additionally seen a surge in prices as well as trading quantities once it has actually been accepted.
ETFs could open the Bitcoin market to a group of institutional investors and also can additionally offer a platform for large financiers to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip collection, ‘Bitcoin Q&A’, he stated: “Everybody is so fired up concerning ETFs. Just what we have actually seen in other markets is that when an ETF appears, the rate truly increases dramatically, as instantly that asset appears to a great deal extra capitalists and also these capitalists overdo.
” Yet, the opposite side of it, is that there are always these cases that the assets markets are greatly manipulated as well as opening up these ETFs only boost the capability of institutional capitalists to control the prices of products.”