Renowned author Robert Kiyosaki recently sparked controversy within the cryptocurrency community by calling Bitcoin ETFs a “fake investment.”
In a recent social media post, Kiyosaki criticized Bitcoin ETFs as well as gold and silver ETFs as investments in fake assets.
Kiyosaki advocated for investing in physical metals like gold and silver, as well as Bitcoin, which he said offer greater safety and intrinsic value than ETFs, which he criticized as open to manipulation and dilution by the financial system.
Kiyosaki’s comments come at a time of heightened interest in the U.S. crypto ETF market. Despite some recent ups and downs, the U.S. Spot Bitcoin ETF saw $11.8 million in inflows on June 27, while other investment products such as Grayscale’s GBTC saw outflows.
Kiyosaki’s criticism stems from skepticism about ETFs, which many investors see as an indirect way of investing in cryptocurrencies. The debate over ETFs and their role in the crypto space continues as new regulations are still under consideration, including the possible listing of a U.S. spot Ethereum ETF.
Additionally, VanEck’s latest filing to launch the Solana ETF shows that there’s more to blockchain investing than traditional Bitcoin and Ethereum investments, demonstrating that the ETF market is not stagnant. Meanwhile, Bitcoin’s value has risen slightly to $61,585 as market trends shift.
Kiyosaki’s opinions are provocative and contribute to the current debate regarding the legitimacy and usefulness of ETFs in the crypto space, influencing investor attitudes and the market.
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