This is why Robert Kiyosaki wouldn't invest in a Bitcoin ETF

The famous author of the book "Rich Dad, Poor Dad" Robert Kiyosaki has sparked discussions in the crypto community with his recent remarks about the Bitcoin ETF. 

In a recent publication in X Robert Kiyosaki criticized Bitcoin ETFs, calling them “false” investments. Kiyosaki's skepticism is rooted in a broader criticism of all ETFs, arguing that they represent investments that are divorced from actual assets.

In his social media post, Kiyosaki stated that he will not buy ETFs, whether they are Bitcoin, gold or silver.

He added that owning the physical assets allows him to avoid the influence of banks or Wall Street bankers. Kiyosaki's preference is clearly for physical ownership over paper or digital possessions.

It suggests that ETFs can be manipulated or diluted by the financial system.

However, his comments come at a time when the US Bitcoin ETF spot market is seeing some activity. Despite the recent drop in inflows, a modest recovery is being reported, with spot BTC ETFs seeing inflows of $27 million on June 11.8. On the same day, Grayscale's GBTC saw an outflow of $11.4 million. This inflow over the past three days follows a period of significant outflows.

While he dismisses ETFs as lacking intrinsic value, many in the investment community see them as a means of facilitating broader market participation.

There is growing anticipation surrounding the potential approval of a spot Ethereum ETF in the US by the SEC next week. Such approval could boost market sentiment and push cryptocurrency prices higher. The anticipated ETH ETF has already piqued the interest of investors looking for new market opportunities.