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Last week we saw the launch of 9 Ethereum futures ETF’s. Despite the lukewarm reception by markets, the launch was widely celebrated by the Crypto community.
Today’s crypto expert, Mark Yusko, believes celebrating the launch is a mistake.
Yusko believes the launch of a futures ETF, without the launch of a spot ETF, will only put downwards pressure on price.
The launch of futures products has historically marked the tops of asset prices.
Why?A futures ETF allows people to sell an asset on paper, without actually owning the underlying asset. This is called ‘naked shorts’.
Shorting is borrowing an asset from someone else with the promise you will return it at some point in the future. It’s making a bet that the price will go down.
The problem with the launch of a futures ETF is that people with large enough balance sheets can continuously sell paper ETH, artificially suppressing the price.Make sure to stick around to the end of the video where Yusko breaks down why this is just opening the door to manipulation.
About Mark Yusko:
Mark W. Yusko is an American investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management, an investment management firm that advises pension funds, endowments and wealthy individuals.
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Mark Yusko Ethereum: “WARNING! It’s Being Manipulated” Mark Yusko 2024 Crypto Prediction
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