“I’m going to break your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin lover, discussed Bitcoin ETF. He was of the opinion that his explanation would make numerous crypto fanatics thinking about the Bitcoin ETF take their go back as it is a “terrible concept”.
” I understand a lot of people actually intend to see an ETF happen due to the fact that “to the moon and also lambos!” But I think it is a horrible suggestion. I still think it is going to occur, I simply believe it is a horrible idea. I’m in fact against ETFs. I believe a Bitcoin ETF is going to be harming to the ecological community,” he claimed.
Bitcoin ETF can manipulate costs
Referring To Bitcoin ETF’s capacity of attracting considerable quantity of exposure, its development has actually generated expectations. It has actually also seen a rise in rates and trading volumes once it has been accepted.
ETFs could open up the Bitcoin market to a team of institutional capitalists and can additionally supply a platform for huge capitalists to control the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he claimed: “Everybody is so fired up concerning ETFs. Just what we have actually seen in various other markets is that when an ETF appears, the cost actually raises significantly, as instantly that commodity appears to a great deal extra capitalists and these financiers overdo.
” However, the opposite of it, is that there are always these cases that the commodities markets are heavily manipulated and also opening these ETFs only enhance the ability of institutional capitalists to manipulate the rates of assets.”