Why Robert Shiller Refuses to Invest in Bitcoin ETFs

Robert Kiyosaki, the famous author of “Rich Dad, Poor Dad,” recently sparked a discussion in the crypto community with his comments on Bitcoin ETFs. In his latest publication, Kiyosaki criticized Bitcoin ETFs, calling them a “wrong” investment. His skepticism stems from his broader criticism of all ETFs, which he believes represent investments that are detached from actual assets. Kiyosaki stated on social media that he would not buy ETFs, whether they are for Bitcoin, gold, or silver. He added that owning physical assets allows him to avoid the influence of bankers or Wall Street bankers. This suggests that ETFs can be manipulated or diluted by the financial system. However, Kiyosaki’s comments come at a time when the US Bitcoin ETF spot market is showing some activity. Despite recent declines in inflows, there has been a moderate recovery, with a $114,000 inflow into the spot BTC ETF on November 8. On the same day, Grayscale’s GBTC saw an outflow of $1 million. The inflows over the past three days have occurred after a period of significant outflows. Although he believes that ETFs lack intrinsic value, many in the investment community see them as a means of promoting broader market participation. People are increasingly looking forward to the possibility that the US Securities and Exchange Commission may approve a US spot Ethereum ETF next week. This approval could boost market sentiment and push up cryptocurrency prices. The highly anticipated ETH ETF has already piqued the interest of investors looking for new market opportunities.