Robert Kiyosaki Speaks Out Against Bitcoin ETF, Calling It ‘Fake’

Robert Kiyosaki recently stirred up discussions in the cryptocurrency community by criticizing Bitcoin ETFs as “fake” investments in a post on his official X account. He compared Bitcoin ETFs to what he sees as flawed gold and silver ETFs. Kiyosaki’s skepticism towards Bitcoin ETFs stems from his broader critique of all ETFs, arguing that they represent investments detached from the actual asset.

Kiyosaki’s stance reflects a preference for physical ownership over paper or digital claims, believing that owning actual assets like gold, silver, or Bitcoin offers more security and value than investing in their ETF counterparts. He suggests that the ETF counterparts can be manipulated or diluted by the financial system. Despite his comments, the U.S. Spot Bitcoin ETF market has seen significant activity, with a modest resurgence in inflows despite recent declines.

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ETFs provide a gateway for broader market participation, allowing investors to gain exposure to cryptocurrencies without the complexities of directly owning and securing digital assets. The U.S. crypto ETF landscape is evolving rapidly, with growing anticipation around the potential approval of a U.S. Spot Ethereum ETF by the SEC in the coming week. Additionally, VanEck has filed for the first Solana ETF in the U.S., marking a significant step forward for alternative blockchain investments.

Despite Kiyosaki’s criticisms, these ETF developments have generated optimism in the crypto sector, leading to a notable rise in Solana (SOL) price following the announcement. Meanwhile, Bitcoin’s price has surged about 1% from yesterday to $61,585, after touching a 24-hour high of $62,333, despite a recent 10% decline over the last 30 days.

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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.