Robert Kiyosaki Labels Bitcoin ETF ‘Fake’, Here’s Why

The renowned author of Rich Dad Poor Dad, Robert Kiyosaki, has reignited debates within the cryptocurrency community with his recent comments on Bitcoin ETFs. In a recent post shared on a social media platform, Kiyosaki called Bitcoin ETFs “FAKE,” comparing them to what he views as similarly flawed gold and silver ETFs.

Notably, his statements have triggered widespread discussion about the authenticity and value of ETFs in the crypto market. Besides, the timing of his statement also comes amid growing interest in the crypto ETF sector in the U.S.

Robert Kiyosaki Criticizes Bitcoin ETF As Fake

In a recent X post, Robert Kiyosaki criticizes Bitcoin ETFs as “fake” investments. Notably, Kiyosaki’s skepticism towards Bitcoin ETFs stems from a broader critique of all ETFs. He argues that ETFs represent a form of investment that is detached from the actual asset.

In his recent social media post, Kiyosaki said that he will not buy ETFs, be it for Bitcoin, Gold, or Silver. He boldly claimed that the ETFs are fake, saying “ETFs are FAKE gold, silver, or Bitcoin.”. Kiyosaki outlined his reasoning, stating:

A Gold ETF can sell 1 ounce of gold 100 times and more via 1 ETF. That is why I own real gold, silver, and real Bitcoin”

Meanwhile, he said that owning the real asset also helps him to keep safe by avoiding the influence of “banks” or Wall Street bankers”. Kiyosaki’s stance reflects a preference for physical ownership over paper or digital claims.

Robert Kiyosaki believes that owning actual assets like gold, silver, or Bitcoin offers more security and value than investing in their ETF counterparts. In other words, he suggests that the ETF counterparts can be manipulated or diluted by the financial system.

However, his comments come at a time when the U.S. Spot Bitcoin ETF market is experiencing significant activity. Despite a recent decline in inflows, data shows a modest resurgence, with the U.S. Spot Bitcoin ETF recording an inflow of $11.8 million on June 27. On June 27, GrayScale’s GBTC noted a $11.4 million withdrawal. Notably, this overall influx over the last three days comes after a significant outflow recorded recently.

Also Read: House Hearing Challenges SEC’s New Equity Rules, Here’s Why

Emerging ETF Trends

Robert Kiyosaki’s criticisms are part of a broader discourse on the role and impact of ETFs in the cryptocurrency market. While he dismisses ETFs as lacking intrinsic value, many in the investment community see them as a gateway for broader market participation.

For context, ETFs allow investors to gain exposure to cryptocurrencies without the complexities of directly owning and securing digital assets. Besides, Robert Kiyosaki’s comment comes amid a time when the U.S. crypto ETF landscape is evolving rapidly.

Meanwhile, anticipation is growing around the potential approval of a U.S. Spot Ethereum ETF by the SEC in the coming week. Such approval could further enhance market sentiment and drive up cryptocurrency prices. The expected Ethereum ETF has already sparked interest among investors looking for new opportunities to enter the market.

On the other hand, VanEck became the first U.S. firm that has recently filed for the first Solana ETF in the U.S. Despite Robert Kiyosaki’s recent comments, this move marks a significant step forward for alternative blockchain investments.

Meanwhile, the development has generated optimism in the crypto sector, leading to a notable rise in Solana (SOL) price following the announcement. Notably, Bloomberg analyst James Seyffart predicts that the Solana ETF could launch in 2025, potentially setting a new precedent for crypto ETFs focused on emerging blockchain platforms.

Amid this, Bitcoin price soared about 1% from yesterday to $61,585, after touching a 24-hour high of $62,333. Despite the recent surge, the crypto, with a market cap of $1.21 trillion, saw a decline of about 10% over the last 30 days.

Also Read: Time Enters Deal with OpenAI Amid Fresh Nonprofit Lawsuit