Crypto Connoisseur Frank Chaparo Says Bitcoin ETF Approval for BTC Price ‘Doesn’t Matter’
The virtual asset market is one which is highly vulnerable to rumors, news as well as the broad-spectrum community communications. A number of expressions such as FOMO and FUD have become so prevalent that social media platforms are an almost mandatory reference for people who desire to carry out fundamental analysis.
Crypto Connoisseur Frank Chaparro, also known as Frankie Scoops, is a celebrated journalist who focuses on receiving direct news when it comes to the crypto space. He recently deliberated on the issue with the founder and partner of Morgan Creek virtual assets, Anthony Pompliano.
Crypto Assets and Blockchain are Making Their Marks
According to Mr. Scoops, the market of virtual assets as well as blockchain knowhow has earned respect and attention of the conventional media as a result of its considerable growth over the past couple of years. At the moment, legacy media is beginning to listen to DLTs in as much as much focus is on the fluctuation of prices.
As far as media legacy is concerned, there are a number of topics which ought to be covered by journalists which necessarily does not have to do with the pricing, or on the perspectives of the conventional media concerning the virtual asset space. Until about twelve months ago, most of the news either had to do with the prices or the culture of the cyberpunks.
However, that narrative has really changed and a lot of other stories being aired by legacy media which also comprise of technology trading as well as a host of other vital news in the crypto space.
Bitcoin ETF: a not so important issue
According to Frank, the issue of Bitcoin ETF is quite important to the bionetwork. However, its impact on the community will not be as vital as it is perceived by others. Frank asserts that he has concluded that ETF is vital to the crypto space, though its price does not necessarily matter.
In many ways, there is need for companies to make sense of their ventures to the society at large. This is because it is the barrier that the crypto space needs to get over, a use case scenario that virtual assets requires in order to make sense to the masses, not ETF.
In his own views, in case an ETF is made available tomorrow, perhaps, the price will rally to an extent. However, it may all end up going down because many people in the crypto space will think that now other regular investors will have access to this market.
Frank is also of the view that there is no need to overestimate the prospective influence of a Bitcoin ETF. In line with the interview, Frank insists that users have to know that there are daily uses and benefits of virtual assets.
This will then help them to feel motivated to invest in an ETF or even embrace its use, instead of sticking to the conventional fiat currencies. According to Frank (which can listen to whole interview here), the authorization of a Bitcoin BTF is an obsession, which ought not to be the case.