“I’m mosting likely to rupture your bubble,” this is exactly how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, discussed Bitcoin ETF. He was of the opinion that his description would make a number of crypto enthusiasts thinking about the Bitcoin ETF take their steps back as it is a “dreadful concept”.
” I know a lot of individuals really wish to see an ETF happen due to the fact that “to the moon and lambos!” But I believe it is an awful idea. I still believe it is mosting likely to happen, I just believe it is a horrible concept. I’m actually versus ETFs. I think a Bitcoin ETF is mosting likely to be damaging to the ecosystem,” he said.
Bitcoin ETF could control prices
Referring To Bitcoin ETF’s capability of drawing in significant amount of direct exposure, its introduction has given rise to assumptions. It has actually additionally seen a surge in rates as well as trading quantities once it has actually been authorized.
ETFs can open the Bitcoin market to a group of institutional financiers and can also supply a platform for large investors to adjust the price of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he stated: “Everyone is so thrilled about ETFs. What we have actually seen in other markets is that when an ETF appears, the price really increases dramatically, as unexpectedly that product becomes available to a lot a lot more financiers as well as these capitalists overdo.
” However, the opposite side of it, is that there are always these cases that the assets markets are heavily adjusted and opening up these ETFs just boost the capacity of institutional financiers to adjust the rates of commodities.”