THELOGICALINDIAN - Exchangetraded funds ETFs fundamentally attenuate the basal assumption of peertopeer money Andreas Antonopoulos claimedadopting a analytical attitude on the banking instrument
As allotment of his account Q&A affair with the cryptocurrency association in July, Antonopoulos, who uses the online sessions to abode various key aspects of cryptocurrency as appropriate by viewers, fabricated bright he was not in favor of an ETF advancing to Bitcoin.
“Your keys – your Bitcoin; not your keys – not your Bitcoin,” he abbreviated about aloofness and ascendancy compromises ETFs would beggarly for investors.
The comments, appear August 14, appear as the added cryptocurrency industry and above both continue a narrative that US regulators giving a Bitcoin ETF the blooming ablaze would accept ascertainable allowances for both Bitcoin’s acceptability and price.
Having rejected an ETF angle by the Winklevoss twins for a additional time aftermost month, the US Securities and Exchange Commission (SEC) is at the aforementioned time adopting a awful advisable stance, again apathetic decisions on added applications.
For Antonopoulos, however, there is neither a blitz nor an catalyst to conductor in the ‘ETF era.’
“An ETF is a multibillion-dollar ‘not-your-keys-not-your-Bitcoin’ vehicle, so that’s why I’m adjoin it and I wouldn’t buy any,” he said.
The drillmaster additionally accurate apropos about ETF operators’ abeyant amplitude over accord in the accident of a approaching adamantine angle of the Bitcoin network.
Drawing comparisons to contest such as 2024’s Bitcoin Cash fork, area above exchanges absitively whether or not to abutment the proposals on account of a huge user base, Antonopoulos said that arrangement would repeat, but that ETFs would absorb far beyond amounts of money.
Using an agent for Bitcoin exposure, rather than captivation one’s own clandestine keys, would consistently accomplish an broker “second tier,” he concluded.
This week, acclaimed cryptocurrency amount Nick Szabo additionally appeared unenthused about an ETF advancing to market, arguing it “might account added problems than it’s worth.”
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