Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • SLOT
  • CASINO
  • SPORTSBET
  • SUBMIT
Crypto Flexs
Home»BLOCKCHAIN NEWS»BitMEX Founder Had Dire Warning About Spot ETF Approval
BLOCKCHAIN NEWS

BitMEX Founder Had Dire Warning About Spot ETF Approval

By Crypto FlexsDecember 24, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
BitMEX Founder Had Dire Warning About Spot ETF Approval
Share
Facebook Twitter LinkedIn Pinterest Email

Arthur Hayes, co-founder of the BitMEX cryptocurrency exchange, is warning of dire consequences as regulatory approval for a spot Bitcoin exchange-traded fund (ETF) is pending.

The concern is that traditional financial asset managers like BlackRock could dominate the spot Bitcoin ETF market, potentially undermining Bitcoin (BTC).

In a Dec. 22 blog post, Hayes highlighted the risks of these companies holding “all the Bitcoin in circulation.” If that happens, he says overly successful ETFs managed by traditional asset managers could ultimately lead to the decline of cryptocurrencies.

Hayes argues that BlackRock and similar firms “empty assets, store them in metaphorical vaults, issue tradable securities, and charge management fees for their ‘hard work’.”

“They don’t use what they have on behalf of their customers. “This is a problem for Bitcoin if we take extreme views on possible futures,” he added.

The public may choose Bitcoin ETF derivatives instead of buying and holding Bitcoin directly, which could impact the use of the Bitcoin blockchain, Hayes says.

Hayes speculated on a future where Bitcoin would only be stored in vaults, and miners would no longer receive income due to lack of network usage. He warned that this scenario could lead to the death of the network and the demise of Bitcoin.

2024: A big year

Hayes also pointed to Bitcoin’s 228% growth since 2020, arguing that Bitcoin is outperforming most traditional assets. This growth signals BTC’s dominance as a hedge against declines in fiat currency values, he added.

BTC growth since 2020 compared to existing assets. Source: Arthur Hayes

Hayes advised investors to avoid permission-based DeFi projects, tokenized real-world assets, and governance tokens tied to debt yields.

Before writing his latest blog post, Hayes took to social media to reveal that he had shifted his investments from Solana (SOL) to Ether (ETH), despite criticizing Solana and even predicting that the token could hit $100. It has been revealed. Current rally.

Fam… I have something to confess.

While meditating, I received a message from the Lord. He told Sam Coin POS to abandon him and confess his love for Archangel Vitalik.

So I threw it away $SOLand other bots $ETH.$ETH = $5,000

— Arthur Hayes (@CryptoHayes) December 22, 2023

With Solana outperforming Ether during the current cryptocurrency market resurgence, Hayes appears to be bucking the trend by switching to ETH.

Nonetheless, Hayes expects Ethereum to reach $5,000, surpassing the previous high of $4,800 achieved in November 2021.

It’s worth noting that Hayes has previously been critical of Solana, even expressing a scathing review of the project when it acquired its tokens in November.

Follow us on Google News

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investors surpass 640,000 BTC when looking at Bitcoin Holdings with $ 22 million purchases.

September 30, 2025

Hyperliquid launches USDH Stablecoin issued by Native Markets

September 25, 2025

The new gold protocol of the BNB chain is due to the $ 2 million launch day nucleus.

September 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.83 Million Tokens And Total Crypto And Cash Holdings Of $13.4 Billion

October 6, 2025

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025

Unity modifies mobile games and password wallets that threaten important vulnerability.

October 6, 2025

BitDigital becomes the first public Etherrium for distributing unsecured leverage -details -Details

October 6, 2025

Cango Inc. Announces September 2025 Bitcoin Production And Mining Operations Update

October 6, 2025

Cake Eyes 60% Rally Pancake WAP

October 5, 2025

Bitcoin Pullback — ETFs Drive Capital Flows, Altcoins Like SOL And XRP Boost Investor Returns

October 5, 2025

SHIBA INU (SHIB) and Dogecoin (DOGE) holders are 16,736%of Rally Progast Tempts buyers that are accumulated as Little PEPE (Lilpepe).

October 5, 2025

Solana Future Surge as the institution induces the open interest for the best record.

October 4, 2025

Free bitcoin.in app withdrawal request My satoshi

October 3, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin Steadies at Rally -Is another powerful brake out just in the future?

October 6, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceeding 2.83 Million Tokens And Total Crypto And Cash Holdings Of $13.4 Billion

October 6, 2025

BC.GAME News Backs Deccan Gladiators As Title Sponsor In 2025 Abu Dhabi T10 League

October 6, 2025
Most Popular

Samsung Galaxy S24 unveils real-time translation for smooth multilingual calls

February 14, 2024

NVIDIA improves TensorRT-LLM with KV cache optimization

January 17, 2025

Congress is squabbling over DeFi regulation, and Rep. Waters is criticizing Trump’s World Liberty Financial.

September 10, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.