According to Josef Tětek, an executive at Trezor, the introduction of spot Bitcoin ETFs could have negative implications for self-custody and the overall stability of the cryptocurrency market. Tětek argues that these ETFs may distance individuals from the responsibility of managing their own Bitcoin holdings, leading to potential security risks and loss of control over their assets. Additionally, Tětek raises concerns about the possibility of creating “millions of unbacked Bitcoin” through the proliferation of these ETFs, which could have detrimental effects on the value and credibility of the cryptocurrency.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinSpot Bitcoin ETF may lead to 'millions of unbacked BTC,' warns analyst