“I’m going to rupture your bubble,” this is just how Andreas M. Antonopoulos, a major Bitcoin enthusiast, described Bitcoin ETF. He believed that his explanation would certainly make several crypto fanatics interested in the Bitcoin ETF take their steps back as it is a “dreadful suggestion”.
” I recognize a lot of people actually want to see an ETF take place due to the fact that “to the moon and also lambos!” Yet I assume it is an awful concept. I still think it is mosting likely to occur, I just assume it is a terrible suggestion. I’m in fact against ETFs. I believe a Bitcoin ETF is mosting likely to be harming to the community,” he stated.
Bitcoin ETF could control rates
Relating To Bitcoin ETF’s ability of bring in significant quantity of direct exposure, its appearance has actually triggered assumptions. It has actually also seen a surge in prices as well as trading quantities once it has actually been authorized.
ETFs could open up the Bitcoin market to a group of institutional financiers and could also supply a platform for big financiers to adjust the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he stated: “Everyone is so excited about ETFs. Exactly what we have actually seen in various other markets is that when an ETF becomes available, the price actually increases drastically, as all of a sudden that commodity becomes available to a lot a lot more capitalists as well as these investors overdo.
” However, the other side of it, is that there are constantly these cases that the assets markets are greatly controlled and opening these ETFs just boost the capability of institutional investors to adjust the rates of assets.”