In response to a critical article from The Economist, former White House communications director Anthony Scaramucci has pushed back on the negative portrayal of the new Bitcoin exchange-traded funds (ETFs).
This is an absurd article; it’s behind a paywall so you might be spared its absurdity. If a $5bn ETF start is bad what is good? If it were anything other than Bitcoin . . .
Bitcoin ETFs are off to a bad start. Will things improve? https://t.co/g80STjnZGG from @TheEconomist
— Anthony Scaramucci (@Scaramucci) February 4, 2024
The Economist piece questioned the success of Bitcoin ETFs following their long-awaited approval by the SEC. It highlighted the 7% decline in Bitcoin’s price since approval and minimal fund flows so far.
Comparing them to the historical launch of gold ETFs, it argued Bitcoin ETFs may not have the same transformative…
