“I’m mosting likely to break your bubble,” this is how Andreas M. Antonopoulos, a significant Bitcoin lover, clarified Bitcoin ETF. He believed that his explanation would certainly make several crypto lovers curious about the Bitcoin ETF take their steps back as it is a “awful suggestion”.
” I know a great deal of people truly intend to see an ETF occur due to the fact that “to the moon and lambos!” But I believe it is a horrible idea. I still assume it is mosting likely to take place, I simply think it is a horrible suggestion. I’m actually against ETFs. I assume a Bitcoin ETF is mosting likely to be damaging to the environment,” he claimed.
Bitcoin ETF could control rates
Pertaining to Bitcoin ETF’s capability of attracting significant quantity of direct exposure, its introduction has triggered assumptions. It has also seen a surge in costs and also trading volumes once it has been authorized.
ETFs can open up the Bitcoin market to a group of institutional investors and also can additionally provide a system for big capitalists to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he stated: “Everyone is so fired up about ETFs. Exactly what we have seen in various other markets is that when an ETF becomes available, the cost truly raises substantially, as unexpectedly that asset becomes available to a lot extra capitalists as well as these investors overdo.
” Yet, the opposite side of it, is that there are constantly these cases that the commodities markets are greatly manipulated as well as opening these ETFs only increase the capability of institutional financiers to manipulate the prices of products.”