Looking forward to the Coinbase hack/f-up that looses 1000s of the ETFers private keys.
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Do they have Fort Knox level security? Do they have an insurance policy? What happens after the insurance policy pays out for key loss/compromise? Coins would either be lost, or in the hands of the hackers. The network doesn’t know about the insurance payout. What would happen to the fee rate of the ETFs?

Private keys safely distributed across the world by individual HODLERs taking personal responsibility is the way.