I think something like that will probably happen, etf investors don't hold the btc, they can only get fiat out, if the price of btc skyrockets fast people will try to cash out and I think the gov would apply some cooloff to tamper selling.
Yeah, the only outlet I can think of is if the ETFs allowed investors to redeem for BTC directly, but I'm sure that's both against their interests and a regulatory impossibility. But, it might have a similar probability to that of the financial institutions straight-up rugging investors, which doesn't sound impossible in a chaotic environment.
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