“I’m going to break your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin enthusiast, described Bitcoin ETF. He felt that his explanation would certainly make numerous crypto fanatics thinking about the Bitcoin ETF take their steps back as it is a “terrible idea”.
” I recognize a lot of individuals truly want to see an ETF take place because “to the moon as well as lambos!” However I think it is a terrible suggestion. I still think it is mosting likely to take place, I simply think it is a horrible idea. I’m really versus ETFs. I assume a Bitcoin ETF is going to be damaging to the community,” he said.
Bitcoin ETF can adjust costs
Pertaining to Bitcoin ETF’s capacity of drawing in considerable quantity of direct exposure, its development has given rise to assumptions. It has actually also seen a surge in rates and trading quantities once it has been approved.
ETFs can open the Bitcoin market to a group of institutional capitalists and can also offer a system for big investors to manipulate the price of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he stated: “Everyone is so ecstatic regarding ETFs. What we have actually seen in other markets is that when an ETF becomes available, the rate truly increases drastically, as instantly that commodity appears to a lot much more investors and also these investors pile on.
” Yet, the opposite of it, is that there are constantly these insurance claims that the commodities markets are greatly controlled and opening up these ETFs just boost the capacity of institutional investors to adjust the prices of commodities.”