‘ETF Multiplier Effect’ to Spark BTC Frustration, Swan Bitcoin CEO Predicts
Bitcoin exchange-traded funds' trading around the permitted space allows more capital to flow directly into Bitcoin than into ETFs, according to Swan Bitcoin CEO Cory Clipston. He calls this phenomenon the “ETF multiplier effect.”
Because the existence of ETFs and the credibility of these large financial institutions entered the space and proved it in the eyes of investors. […] A lot more bitcoin will be bought by other sellers around the world,” Clipston explained in an exclusive Cointelegraph interview.
Despite capital outflows from Greyscale Bitcoin Trust (GBTC) putting downward pressure on bitcoin prices, Clipston remains an extreme bull in the long run.
Clipston believes “there's a very good chance” the Ethereum ETF will soon be approved in the US, largely due to the influence of Consenis and the Ethereum Foundation over US regulators.
While the ETF's approval could give Ethereum a stamp of legitimacy, according to Clipston, the second-largest cryptocurrency is still considered central, unlike Bitcoin.
“It trades better as a technology stock,” he said.
To learn more about Clipston's views on Bitcoin following the ETF approval, watch the full interview on our YouTube channel and don't forget to subscribe.
