“I’m mosting likely to break your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, discussed Bitcoin ETF. He believed that his description would make several crypto lovers interested in the Bitcoin ETF take their go back as it is a “horrible concept”.
” I understand a lot of people really wish to see an ETF take place since “to the moon as well as lambos!” Yet I believe it is a horrible suggestion. I still think it is going to happen, I just assume it is a terrible suggestion. I’m really against ETFs. I think a Bitcoin ETF is mosting likely to be harming to the community,” he said.
Bitcoin ETF can control rates
Pertaining to Bitcoin ETF’s capability of drawing in substantial quantity of direct exposure, its introduction has given rise to assumptions. It has likewise seen a rise in rates as well as trading quantities once it has been accepted.
ETFs could open the Bitcoin market to a team of institutional financiers as well as can likewise offer a platform for big financiers to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he claimed: “Everyone is so fired up regarding ETFs. Exactly what we have actually seen in various other markets is that when an ETF becomes available, the price actually boosts substantially, as all of a sudden that product becomes available to a lot much more investors and also these capitalists overdo.
” Yet, the other side of it, is that there are constantly these insurance claims that the products markets are greatly controlled and opening up these ETFs just raise the ability of institutional financiers to control the costs of products.”