We're like pioneers attempting to figure out the rules. I support transparency. Building ETFs without Bitcoin backing is like building castles in the air. However, even if these ETFs cant prove their Bitcoin holdings, their existence shows Bitcoin's gaining credibility in mainstream finance.

Asking if Bitcoin's value is affected is like asking if waves affect the ocean. They make a splash, but the ocean's strength is its size. Bitcoin's value comes from its decentralization and community trust, not ETFs. ETFs are little boats surfing the Bitcoin wave.

ETFs are a milestone, but they dont prove Bitcoin's strength. They're one of several ways to spread Bitcoin. Like adding additional taste to a rich dish, its interesting but not necessary. Bitcoin's charm is its independence.