“I’m mosting likely to rupture your bubble,” this is how Andreas M. Antonopoulos, a major Bitcoin fanatic, discussed Bitcoin ETF. He was of the opinion that his explanation would certainly make a number of crypto fanatics interested in the Bitcoin ETF take their steps back as it is a “terrible idea”.
” I know a great deal of individuals really intend to see an ETF occur due to the fact that “to the moon and lambos!” Yet I assume it is a horrible idea. I still believe it is mosting likely to occur, I just believe it is a terrible concept. I’m in fact against ETFs. I believe a Bitcoin ETF is mosting likely to be damaging to the environment,” he said.
Bitcoin ETF can adjust prices
Relating To Bitcoin ETF’s capability of attracting substantial quantity of exposure, its appearance has actually generated expectations. It has additionally seen a rise in costs and trading quantities once it has been authorized.
ETFs could open the Bitcoin market to a team of institutional capitalists as well as could likewise give a platform for big capitalists to manipulate the rate of Bitcoin (BTC). Antonopoulos in his YouTube video series, ‘Bitcoin Q&A’, he claimed: “Everyone is so excited about ETFs. Exactly what we have actually seen in other markets is that when an ETF appears, the rate actually boosts drastically, as suddenly that commodity appears to a great deal more investors as well as these capitalists overdo.
” But, the opposite of it, is that there are always these insurance claims that the assets markets are heavily controlled and also opening these ETFs only boost the capability of institutional financiers to adjust the prices of commodities.”