Then a few more words about ETFs:
ETFs that track spot prices do not have the concept of fund managers being fired for poor performance. This is the same concept as index funds: they do not have any possibility of active operation, and must operate strictly in accordance with the prospectus. (Referring to the US stock market, not the domestic market)
I have said this many times, and anyone with common sense in trading US stocks should know this. For example, Tesla entered the S&P 500 before, and Nvidia adjusted its weight a few days ago. At these times, index funds must strictly buy in accordance with the component ratio within a limited time.
However, ETFs have operating expenses, and the above ETFs do not need to be actively operated, but are only to provide a window for compliant funds to enter the market and reduce the trouble of custody. Therefore, when the scale of ETFs is small and the money collected is not as high as the cost, they will be dissolved.
So BTC can support several ETFs, and in the end there will only be a few left. ETH can also support it, but because of the staking issue, it is not as good as BTC ETFs. As for others, it is very difficult to scale. And there is another key point, there will be no spot ETFs for coins that are referred to as securities. Take XRP for example. If an ETF is applied for, just short it after it goes up. So if Sol applies for an ETF and it goes from $120 to over $150, you know what it is doing, right?
ETFs that track spot prices cannot be actively operated. This common sense can also distinguish many uneducated people. How can they have logic if they don't know the facts or the rules?