“I’m going to burst your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, described Bitcoin ETF. He believed that his description would certainly make a number of crypto fanatics interested in the Bitcoin ETF take their go back as it is a “terrible suggestion”.
” I recognize a great deal of people actually want to see an ETF occur due to the fact that “to the moon as well as lambos!” But I believe it is a horrible idea. I still believe it is going to occur, I simply believe it is a horrible idea. I’m actually versus ETFs. I assume a Bitcoin ETF is mosting likely to be harming to the ecological community,” he stated.
Bitcoin ETF could adjust prices
Referring To Bitcoin ETF’s capacity of attracting substantial amount of direct exposure, its development has actually triggered assumptions. It has actually additionally seen a rise in prices as well as trading volumes once it has been approved.
ETFs can open the Bitcoin market to a team of institutional capitalists and also could likewise offer a platform for large investors to control the price of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he said: “Everybody is so thrilled about ETFs. Exactly what we have seen in various other markets is that when an ETF becomes available, the price actually increases dramatically, as suddenly that commodity becomes available to a great deal a lot more financiers and also these financiers pile on.
” However, the other side of it, is that there are constantly these cases that the commodities markets are greatly manipulated as well as opening these ETFs just boost the capacity of institutional capitalists to adjust the prices of assets.”