“I’m going to rupture your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin lover, clarified Bitcoin ETF. He felt that his explanation would make several crypto lovers thinking about the Bitcoin ETF take their steps back as it is a “terrible idea”.
” I understand a great deal of individuals actually intend to see an ETF take place since “to the moon and lambos!” Yet I believe it is an awful concept. I still assume it is going to occur, I just believe it is a terrible concept. I’m in fact against ETFs. I think a Bitcoin ETF is mosting likely to be harming to the environment,” he said.
Bitcoin ETF can manipulate prices
Relating To Bitcoin ETF’s ability of bring in substantial amount of direct exposure, its emergence has actually given rise to expectations. It has actually likewise seen a surge in prices and trading quantities once it has actually been approved.
ETFs can open up the Bitcoin market to a team of institutional financiers and can also provide a system for big financiers to adjust the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he stated: “Everybody is so ecstatic about ETFs. What we have actually seen in other markets is that when an ETF becomes available, the price actually raises significantly, as instantly that asset becomes available to a lot more investors and these financiers pile on.
” But, the opposite side of it, is that there are always these claims that the commodities markets are greatly adjusted and also opening up these ETFs only enhance the capability of institutional capitalists to manipulate the costs of products.”