People are buying BTC ETFs but do they know what they are buying? Most do not. Blackrock is now making a case that there is room for an Ethereum ETF. Below is what I believe will be the letter sent to customers once the whole thing goes belly up.
About that btc ETF you purchased. The price went up so fast after the halvening that we could not procure the amount of Bitcoin needed to back your investment. Due to these unforeseen circumstances, we are filing for Chapter 11 bankruptcy. Your funds and accounts are now locked and withdrawals have been suspended while we deliberate with our attorneys during these challenging times. We apologize for any inconvenience this may cause.
The ETF peddlers.
The media will celebrate Vanguard for their foresight.