If I am not mistaken, this particular ETF will be using CME's bitcoin derivative as an underlying asset to calculate the price of the EFT. If that is true, no real value will be added in bitcoin market because no physical bitcoins will be transacted during the process and also no money will be pumped into the bitcoin market. This ETF is essentially a bug fraud of the banking system where they create money out of thin air.
Such ETFs can only bring positively into the market but not money!
essentially..
person A in a different market/company. is buying futures contracts where they want to buy bitcoin at X price in Y weeks. whereby at week Y deadline.. that coin for them 0.2 seconds are owned by person A. and is then sold. leaving person A with a profit or loss depending on what the price is then.
^ thats futures
the ETF is creating seperate contracts and letting person B buy these.. which the B contract pays person A at week Y. meaning person A never loses any fiat because the fiat risk is shifted to person B
person B never even gets the bitcoin for 0.2 seconds. he is just hedging, gambling person A's fiat