Trezor’s Bitcoin analyst Josef Tětek expressed concerns about spot Bitcoin ETFs. He believes that the adoption of ETF will create a large number of “paper Bitcoins”.
“The result could be the creation of millions of unbacked Bitcoins, which would distort real markets and depress the value of real Bitcoins — while handing greater agency to centralized traditional finance Giant. This is the exact opposite of Satoshi Nakamoto’s original vision.”
Some community members have called on fund managers to publish actual on-chain addresses to verify their Bitcoin holdings.