“I’m mosting likely to rupture your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, described Bitcoin ETF. He was of the opinion that his explanation would certainly make a number of crypto lovers interested in the Bitcoin ETF take their steps back as it is a “terrible suggestion”.
” I understand a lot of people truly want to see an ETF occur because “to the moon as well as lambos!” However I think it is a terrible suggestion. I still think it is going to occur, I just think it is a dreadful idea. I’m actually against ETFs. I believe a Bitcoin ETF is going to be damaging to the environment,” he stated.
Bitcoin ETF could adjust prices
Concerning Bitcoin ETF’s ability of bring in considerable quantity of exposure, its introduction has triggered expectations. It has actually likewise seen a surge in costs as well as trading volumes once it has actually been approved.
ETFs could open up the Bitcoin market to a group of institutional capitalists and also could additionally provide a platform for big capitalists to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip collection, ‘Bitcoin Q&A’, he said: “Everybody is so ecstatic regarding ETFs. Just what we have actually seen in various other markets is that when an ETF becomes available, the cost really increases considerably, as instantly that asset appears to a whole lot much more financiers and these investors pile on.
” Yet, the other side of it, is that there are constantly these claims that the products markets are greatly manipulated and opening these ETFs just enhance the capacity of institutional financiers to adjust the rates of commodities.”