Spot Bitcoin ETFs Will “Kill Bitcoin”: Arthur Hayes

Arthur Hayes expresses concern that the introduction of Spot Bitcoin ETFs could be detrimental to BTC.

According to Hayes, Bitcoin's value is intricately connected to its fluid movement, and ETFs may impede this natural flow.

Disruption in the balance between demand and supply could result in miners stepping away from the Bitcoin ecosystem.

Hayes warns that BTC may become vulnerable to manipulation and censorship with the advent of ETFs.

In the broader perspective, the negative impact of ETFs on BTC might give rise to the emergence of a new cryptocurrency.