longhorn on Nostr: Can someone explain to me exactly how demand for paper bitcoin via an ETF translate ...

Can someone explain to me exactly how demand for paper bitcoin via an ETF translate to an increase in spot price on worldwide exchanges of the real thing? Doesn’t it depend on how the custodian acquires the BTC? If these big banks develop ways of increasing their holdings via buying from miners or some agreement with coinbase, can’t it result in price suppression?

Yeah blackrock has to stay in compliance, but who is watching their custodian, coinbase, making sure they are really buying spot Bitcoin on the open market?