Cryptocurrency critic Peter Schiff recently predicted that issuers of Bitcoin exchange-traded funds (ETFs) will face lawsuits from unhappy customers, U.Today reported. Schiff is sure that these customers will look for ways to recover their money after facing huge losses. Moreover, he believes that risk disclosures do not necessarily protect these issuers from legal troubles, as there are contradictions between public and private comments. However, so far, these products have been a remarkable success. Earlier this week, BlackRock’s IBIT entered the 3% of US ETFs after approaching $20 billion in AUM. It also became the fastest ETF to reach $10 billion in AUM. Last month, Bitcoin ETFs attracted $111 billion in trading volume. Although Bitcoin is now a $1.3 trillion asset, Schiff still has no enthusiasm for the flagship coin. He is also pessimistic about the upcoming halving event, which will be held in a few days, U.Today reported.
