“I’m mosting likely to break your bubble,” this is exactly how Andreas M. Antonopoulos, a major Bitcoin lover, described Bitcoin ETF. He believed that his description would certainly make numerous crypto fanatics thinking about the Bitcoin ETF take their go back as it is a “awful concept”.
” I recognize a great deal of people really intend to see an ETF happen because “to the moon and also lambos!” But I think it is an awful concept. I still believe it is going to occur, I simply believe it is an awful concept. I’m in fact versus ETFs. I think a Bitcoin ETF is going to be harming to the ecological community,” he said.
Bitcoin ETF could control prices
Concerning Bitcoin ETF’s capability of attracting significant amount of exposure, its introduction has given rise to expectations. It has actually also seen a rise in rates as well as trading volumes once it has been authorized.
ETFs could open up the Bitcoin market to a group of institutional financiers and also can additionally offer a platform for huge investors to control the price of Bitcoin (BTC). Antonopoulos in his YouTube video collection, ‘Bitcoin Q&A’, he said: “Everyone is so fired up about ETFs. Exactly what we have seen in other markets is that when an ETF appears, the price actually boosts substantially, as all of a sudden that asset becomes available to a lot a lot more investors and these investors overdo.
” However, the opposite side of it, is that there are always these cases that the products markets are heavily manipulated as well as opening up these ETFs only boost the ability of institutional investors to adjust the rates of products.”