Bitcoin ETFs Open Floodgates for Manipulation, According to Andreas Antonopoulos

Andreas Antonopoulos, a prominent advocate in the cryptocurrency space, shared a video on Tuesday discussing the hype surrounding cryptocurrency exchange-traded funds (ETFs) and expressing his reservations about them.

“I’m going to burst your bubble. I know a lot of people really want to see an ETF happen because of the excitement and potential profit. However, I think it’s a terrible idea. I still believe it will happen, but I’m fundamentally against ETFs,” he stated.

Antonopoulos acknowledged the enthusiasm many have for ETFs, pointing out that prices for other commodities have soared once such investment vehicles became available. He raised concerns, however, about the potential for market manipulation that could arise from this trend.

“People are thrilled about ETFs because, in other markets, when an ETF launches—as we saw with gold—prices can dramatically increase as the commodity becomes accessible to more investors. However, there are persistent allegations of manipulation in commodity markets, and introducing these exchange-traded instruments can heighten the risk of institutional investors manipulating market dynamics,” he explained.