Golden Finance reported that 10 of the 11 spot Bitcoin ETFs and 8 of the 9 newly approved spot Ethereum ETFs are hosted by Coinbase, and Gabor Gurbacs, a Tether strategist and VanEck consultant, said on the X platform that he questioned the prudence of storing such a huge amount of value in one entity. Gurbacs wrote. "While I believe they have an excellent security team, I fundamentally question the ability and judgment of the fund issuer's board of directors and risk management committee who believe this is an acceptable risk."