Cautious on Bitcoin ETFs: Manipulation Risks Persist

I would be inclined to agree, if not for a couple of caveats. First, Bitcoin ETFs have long existed in Canada well before the U.S. launched theirs. Second, the same entities that accumulated BTC through ETFs can also sell into the order book — we've seen that happen before. Third, there’s the open question of who is redistributing holdings to whom.

I’m not claiming Bitcoin is worthless — understand that I only mean they possess all the instruments to manipulate markets, and those manipulation risks exist. Those risks can affect Bitcoin in the short term, medium term, and long term. Even with ETFs, Bitcoin is not a cure-all.