“I’m mosting likely to burst your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin fanatic, described Bitcoin ETF. He believed that his description would certainly make several crypto enthusiasts curious about the Bitcoin ETF take their go back as it is a “terrible idea”.
” I know a lot of people really wish to see an ETF take place due to the fact that “to the moon as well as lambos!” However I believe it is an awful concept. I still believe it is mosting likely to take place, I simply believe it is an awful concept. I’m actually against ETFs. I think a Bitcoin ETF is going to be harming to the environment,” he stated.
Bitcoin ETF could control costs
Concerning Bitcoin ETF’s capacity of bring in substantial amount of direct exposure, its appearance has actually triggered expectations. It has also seen a rise in rates as well as trading volumes once it has actually been authorized.
ETFs could open the Bitcoin market to a team of institutional capitalists and can likewise give a system for large capitalists to control the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he stated: “Everyone is so excited regarding ETFs. Just what we have actually seen in other markets is that when an ETF becomes available, the price really boosts substantially, as instantly that commodity appears to a lot extra capitalists and these capitalists pile on.
” But, the other side of it, is that there are constantly these claims that the products markets are greatly controlled and opening up these ETFs just boost the capability of institutional investors to manipulate the prices of commodities.”