Bitcoin ETF Matters for the Space Rather Than the Price, Frank Chaparro Admits
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The crypto ecosystem is quite sensitive to rumors, news, and other related actions. Notions like FOMO and FUD have become so discussed that social platforms are considered proper references for crypto enthusiasts who intend to manage some analysis on the industry.
Frank Chaparro, also known as Frankie Scoops is a famous journalist renowned for his rapidity of publishing the first-hand news regarding the crypto ecosystem. On 24 September, Scoop talked in a podcast with Anthony Pompliano, Founder & Partner at Morgan Creek Digital Assets about crypto and what the market involves.
In Frankie’s opinion, the crypto and blockchain market has become famous in recent years, managing to attract a lot of attention from media mainly due to the considerable increase it has involved and shared. Currently, the traditional form of media starts as well to publicized DLTs, even if the main target might seem the digital assets’ price fluctuations.
“… As far as legacy media is concerned, I think there are so many topics that journalists have to cover that it really just does become about the price and how traditional institutions are viewing this space … Up until a year ago, most of the stories either had to do with price or the culture of these cyberpunks, etc.”
“That’s changed, and I think we’ve seen a lot of legacy media really dive into this and pick apart issues ranging from technology trading and others.”
‘The ETF matters for the space’
Frank Chaparro believes that Bitcoin ETF is an important component of the crypto space. On the other hand, he stated that the impact it will have will not be as crucial as it seems:
“I have come to the conclusion that I think the ETF matters for the space, but it doesn’t matter for the price. I think it doesn’t matter at all for the price. I thought it did, I thought it could have a big impact …
We need to, or those companies rather need to make sense of their projects to regular people, and so. That’s the impediment we need to get over, a use case for crypto that makes sense to the masses, not an ETF, and so, I think, if we got an ETF tomorrow, maybe the price would rally a bit, but I think that’s all gonna go down, because you’re gonna think: “All right, now regular investors have access to this market.” But, it’s the same thing as if you have an amusement park [with no attractions].”
The journalist adviced not to raise praise to a higher level regarding the Bitcoin ETF influence. He pointed out that, first of all, those interested in investing in the ETF must understand how cryptocurrencies work.
Author: Adriana Midrigan
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