I don't know if there is any way to estimate the liquidity of the largest CEXs
most spot BTC ETFs use the custodial service of a well-known CEX
all these coins actually just move from one wallet to another
but remain in the possession of one and the same company.
I have been having my doubts that there would be any exact shock
if the price suddenly doubles
supply is going to come available.
the custodian (Coinbase or whatever) is going to end up in BIG trouble if they don't have the coins that they claim to have... I wonder if these big companies even understand how much risk there is in custodial services?
In case something goes wrong
do you think that will lead to CB, Black Rock and some other companies simply deciding to fork BTC?
They have some language in their ETF contracts stating that in the case of a fork, they reserve the right to choose the "legit" branch to follow.
However, I don't think they have the power to fork btc alone. We've seen something like this happening with the blocksize wars. Holders, miners, nodes - there's kind of a balance of power at play here. If they do fork and their fork doesn't get validated by a sufficient number of nodes, it's going to be hard to uphold that in court. I doubt they want to come to that. Just a hunch from a non-expert in game theory, a non-lawyer; rather, a holder with skin in the game, so not really objective probably, but still.