Tech
Robert Kiyosaki Says BTC ETFs Are Fake Bitcoin; Here because
Robert Kiyosaki, author of the bestselling book Rich Dad Poor Dad, has shared his thoughts on spot Bitcoin ETFs. In a June 27 Twitter post, the millionaire entrepreneur labeled Bitcoin ETFs as fake assets, comparing them to “fake gold and silver ETFs.”
These observations come in the context of growing interest in crypto ETFs and recent massive outflows from Bitcoin ETFs in the United States. Kiyosaki’s statements have raised questions about the credibility and long-term value of Bitcoin ETFs and related products in the market. cryptocurrency market.
Why does Kiyosaki call Bitcoin ETFs fake?
Known for his bullish stance on Bitcoin investments, Kiyosaki has criticized BTC ETFs, calling them fake investments. In particular, his opinion on Bitcoin ETFs is based on a broader disapproval of ETFs, be they gold, silver or other commodities.
Part of his send it reads: “Q: What’s wrong with the ETF? A: ETFs are FAKE gold, silver or Bitcoin.”
The famous investor claims that ETFs are a false representation of the real asset, be it Bitcoin, gold or silver. He believes that such investment vehicles are separate from the real asset, noting that he will not invest in gold, silver or BTC ETFs.
In his argument, Kiyosaki cited a case where a Gold ETF will sell 1 ounce of gold 100 times through 1 ETF. Kiyosaki says that this scenario is why he only buys real Bitcoin, gold, and silver and never looks at ETFs.
He also noted that buying real assets allows him to keep them safe, avoiding third-party influence from banks and Wall Street brokers. This statement suggests that Kiyosaki prefers ownership of physical assets to digital or paper claims.
He also believes that owning the actual asset, be it gold, Bitcoin or silver, is safer and provides more value than buying ETF products. This could mean that issuers could manipulate gold, silver and BTC ETFs, or that the influence of the financial system could dilute their value.
While many see ETFs as a means to gain exposure to Bitcoin and a move towards broader cryptocurrency adoption, Kiyosaki dismisses them as investments with no intrinsic value.
Bitcoin ETF Market Outlook
These comments come at a time of intense activity in the US BTC ETF spot market. Despite recent massive outflows, the market data shows a slight improvement, with three consecutive days of positive net inflows of $31 million, $21.4 million and $11.8 million on June 25, 26 and 27, respectively.
Data by Farside Investors shows that Bitcoin ETFs saw $11.8 million in net inflows on June 27. Bitwise Bitcoin ETF (BITB) led flows with $8.0 million in inflows as of June 27, while Fidelity’s FBTC followed with $6.7 million.
BlackRock’s IBIT saw zero inflows, Ark Invest’s ARKB saw $1.8 million in inflows, Invesco Galaxy’s BTCO received $3.1 million, and Franklin’s EZBC received $3.6 million.
In contrast, Grayscale’s GBTC continued its steady streak of outflows, with $11.4 million withdrawn from the ETF on June 27.
On the other hand, Hong Kong ETFs saw net outflows of 499.98 BTC on June 26. However, they recorded positive inflows of 57.57 BTC on June 27. The majority of the inflow came from China AMC, which added $47.81 BTC, Harvest only got 9.76 BTC, and Bosera & Hashkey saw zero inflows.
Disclaimer: The views expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile and high-risk asset class.
The technical report editorial policy is focused on providing useful, accurate content that offers real value to our readers. We only work with expert writers who have specific knowledge of the topics covered, including the latest developments in technology, online privacy, cryptocurrencies, software and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards and every article is 100% written by real authors.