“I’m mosting likely to break your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin enthusiast, clarified Bitcoin ETF. He felt that his explanation would certainly make several crypto fanatics curious about the Bitcoin ETF take their steps back as it is a “horrible idea”.
” I know a lot of people really intend to see an ETF take place due to the fact that “to the moon and lambos!” Yet I believe it is a dreadful concept. I still believe it is going to take place, I just think it is a horrible concept. I’m actually versus ETFs. I believe a Bitcoin ETF is going to be damaging to the ecosystem,” he said.
Bitcoin ETF could adjust prices
Relating To Bitcoin ETF’s capacity of drawing in significant amount of direct exposure, its introduction has actually given rise to assumptions. It has actually additionally seen a rise in costs as well as trading volumes once it has been accepted.
ETFs can open up the Bitcoin market to a group of institutional investors as well as could also supply a system for big financiers to control the rate of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he said: “Everyone is so thrilled concerning ETFs. Exactly what we have seen in other markets is that when an ETF becomes available, the price really raises significantly, as unexpectedly that commodity appears to a great deal more investors and also these financiers overdo.
” However, the opposite side of it, is that there are always these claims that the commodities markets are greatly adjusted and opening these ETFs just enhance the capacity of institutional investors to manipulate the prices of products.”