The question is will their customers buy their ETF. Its hard to say. I really think a large number of ETF buyers will have very weak hands. It seems like a lesson everyone has to learn but now that this in the in the tradfi world I suspect many won't learn and the cycle will repeat.

at some point they’ll run into the scarcity limits of 21 million (minus the many million coins that people hold).

i wouldn’t count on this pace holding up for much longer, but even a fraction of this pace is a lot.

i could see them getting 1-2 million coins at some point.