Gold is highly manipulated.  ETFs make it easier to do this, as central banks can run shorts naked or go as long as they like, and they never have to unwind because they can print fiat/issue debt.

The tighter the rubberband is drawn back, the harder it snaps back.


BCF has a Bitcoin ETF.  This can enable high volume trading and also manipulation if backed by anything other than actual Bitcoin.  So far this is the method of operation, if things change or there is competitive ETF with a different model the game changes and we may have to recognize the unbacked fund as invalid.  The CFTC may not come to the rescue.