“I’m going to rupture your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin enthusiast, discussed Bitcoin ETF. He felt that his explanation would certainly make numerous crypto lovers thinking about the Bitcoin ETF take their steps back as it is a “dreadful suggestion”.
” I know a lot of people actually want to see an ETF occur due to the fact that “to the moon and lambos!” However I think it is an awful suggestion. I still assume it is mosting likely to occur, I simply think it is a dreadful suggestion. I’m actually against ETFs. I think a Bitcoin ETF is going to be damaging to the ecosystem,” he said.
Bitcoin ETF could adjust prices
Concerning Bitcoin ETF’s ability of drawing in substantial quantity of exposure, its development has given rise to assumptions. It has actually also seen a rise in costs and trading quantities once it has actually been approved.
ETFs could open up the Bitcoin market to a group of institutional capitalists and also can also offer a platform for large investors to manipulate the cost of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he claimed: “Everybody is so thrilled regarding ETFs. Exactly what we have seen in various other markets is that when an ETF becomes available, the rate actually raises significantly, as instantly that product becomes available to a whole lot more investors and these investors overdo.
” But, the opposite of it, is that there are always these cases that the assets markets are heavily adjusted and opening these ETFs just enhance the capacity of institutional investors to control the prices of products.”