This is what they wrote in response to the SEC in the United States giving approval to Bitcoin ETFs:
https://www.ecb.europa.eu/press/blog/date/2024/html/ecb.blog20240222~0929f86e23.en.html
On 10 January, the US Securities and Exchange Commission (SEC) approved spot exchange-traded funds (ETFs) for Bitcoin. For disciples, the formal approval confirms that Bitcoin investments are safe and the preceding rally is proof of an unstoppable triumph. We disagree with both claims and reiterate that the fair value of Bitcoin is still zero. For society, a renewed boom-bust cycle of Bitcoin is a dire perspective. And the collateral damage will be massive, including the environmental damage and the ultimate redistribution of wealth at the expense of the less sophisticated.
So they're not only mad at bitcoin, they're mad at the SEC. If you read the rest of the article, they had hoped bitcoin would die in 2022 due to Terra-Luna, FTX and others collapsing and believe that the ETFs are the reason "the dead cat is bouncing".
Here's what they have to say:
Misjudgment by authorities?
The international community initially acknowledged Bitcoin's lack of positive social benefits. Legislators hesitated to concretise regulations due to the abstract nature of guidelines and concerns over Bitcoin's divergence from traditional financial assets. However, pressure from well-funded lobbyists and social media campaigns prompted compromises, having been understood as a partial approval of Bitcoin investments.
In Europe, the Markets in Crypto Assets Regulation (MiCA) of June 2023 aimed to curb fraudulent issuers and traders of crypto units with - despite the initial intentions towards genuine crypto assets - , an eventual focus on stablecoins and service providers, although without regulating and constraining Bitcoin per se. At the same time, less informed outsiders might have the false impression that with MiCA in place, Bitcoin would be also regulated and safe.
In the USA, the SEC's approach to Bitcoin ETFs initially involved compromises, favouring futures ETFs due to their perceived lower volatility and lower risk of price manipulation. However, a court ruling in August 2023 compelled the SEC to authorise spot ETFs, leading to a significant market rally.
...It seems wrong that Bitcoin should not be subject to strong regulatory intervention, up to practically forbidding it.
It's clear the European Central Bank would like to ban bitcoin - but it's hard to ban a decentralised coin that other jurisdictions have legalised. So the approval of the ETFs is incredibly important globally, as it makes it that much harder to stop people using bitcoin.