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Business & Finance

I Even Don’t Understand What’s the “Hype” All around These ETF’s – Says Head of Administration Bitcore BTX

The possibility of the establishment of a crypto-linked exchange-traded fund (ETF) has been the talk of the town for quite some time now. The demands for its establishment are rising day in and day out in the crypto financial world. But has this topic gained too much of attention lately? The Head of Administration at Bitcore BTX, which is a community-driven crypto solution, Thomas Casper seems to agree to this notion.

Talking to BlockPublisher regarding the aspect of an ETF getting established, Thomas stated:

In my honest opinion not at all. I even don’t understand what’s the “hype” all around these ETF’s.

Thomas suggested that the entire community is more focused on the aspect of exchange-traded funds getting approved rather than focusing on matters like adoption, education etc. that are linked with this nascent market of crypto.

Adding on to his statements, he stated:

I think blockchain and crypto should be focused on important things like adoption, education and more.

One of the biggest issue that the crypto world is facing as of now is its adoption. Although the prospects offered by this market are game-changing, people still hold back from entering this arena owing to plethora of issues that are associated with it. The instability and volatility possessed by this market make it unattractive to both investors and the general public.

As of now, people are largely using cryptos to gain profit in fiat. But in order for this market to strive and mature, it is necessary that people start treating cryptos as currencies instead of just making them another way for making fiat benefits.

Besides these, issues like manipulation make the scenario even worse for this entire market. The big whales allegedly pivot the direction of the market in their own favor. Manipulation is one of the biggest issue why a crypto-linked exchange-traded fund has not been approved by the regulatory body, the United States Securities and Exchange Commission (SEC), as of yet.

Another major reason why this issue has prolonged is the lack of regulation. Currently, there is no proper regulatory framework that is overseeing this market overall. Although the lack of a regulatory framework is also desirable by many enthusiasts in the crypto arena, the trust among the general public regarding cryptos is somewhat dependent on it.

Once established, an ETF can prove to be very beneficial for the crypto market as a whole with more institutional money likely to pour in as a result, but it is not necessarily the deciding factor for the fate of this market. As suggested by Thomas, more focus should be given by the crypto community to the issues like adoption, education regarding this world and this technology etc., so that this market matures and grows.

Ahsan Khalid

Blockchain Developer. An Electrical Engineer with majors in software development. I present forward my insight regarding the latest happenings of the blockchain world. All views on my articles are my own. Email: ahsan@blockpublisher.com or editor.news@blockpublisher.com

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