“Rich Dad, Poor Dad” author Robert Kiyosaki recently sparked a discussion within the crypto community with his comments on Bitcoin ETFs. In his latest publication, Kiyosaki criticized Bitcoin ETFs, referring to them as “wrong” investments. His skepticism stems from a broader criticism of all ETFs, believing that they represent investments detached from real assets.
Kiyosaki stated on social media that he would not buy ETFs, whether they are related to Bitcoin, gold, or silver. He emphasized his preference for owning physical assets to avoid the influence of banks or Wall Street bankers. This suggests that ETFs can be manipulated or diluted within the financial system.
However, Kiyosaki’s remarks come at a time when there is some activity in the US Bitcoin ETF spot market. Despite a recent decrease in inflows, there have been reports of a moderate recovery. On November 8th, the inflow into the spot BTC ETF was $114,000, while Grayscale’s GBTC saw an outflow of $100,000 on the same day. These inflows occurred after a period of significant outflows over the past few days.
Although Kiyosaki believes that ETFs lack intrinsic value, many in the investment community see them as a means to promote broader market participation. There is growing anticipation for the potential approval of a US Ethereum ETF by the US Securities and Exchange Commission next week. Such approval could boost market sentiment and drive up cryptocurrency prices. The highly anticipated ETH ETF has already piqued the interest of investors seeking new market opportunities.