“I’m mosting likely to burst your bubble,” this is just how Andreas M. Antonopoulos, a significant Bitcoin enthusiast, clarified Bitcoin ETF. He felt that his description would make a number of crypto lovers interested in the Bitcoin ETF take their steps back as it is a “terrible idea”.
” I recognize a lot of individuals actually wish to see an ETF happen due to the fact that “to the moon and lambos!” However I assume it is a dreadful concept. I still believe it is mosting likely to take place, I just think it is a dreadful idea. I’m actually against ETFs. I assume a Bitcoin ETF is mosting likely to be damaging to the community,” he stated.
Bitcoin ETF could control costs
Concerning Bitcoin ETF’s ability of drawing in substantial amount of exposure, its introduction has actually given rise to assumptions. It has actually also seen a rise in costs as well as trading volumes once it has actually been accepted.
ETFs can open up the Bitcoin market to a group of institutional financiers and also could also provide a platform for huge capitalists to control the cost of Bitcoin (BTC). Antonopoulos in his YouTube video clip series, ‘Bitcoin Q&A’, he claimed: “Everyone is so ecstatic about ETFs. Exactly what we have seen in various other markets is that when an ETF becomes available, the rate truly increases drastically, as suddenly that product becomes available to a whole lot extra financiers and also these investors pile on.here
” Yet, the opposite of it, is that there are constantly these claims that the commodities markets are heavily adjusted as well as opening up these ETFs only enhance the ability of institutional financiers to adjust the rates of assets.” here