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The hidden problem with crypto ETFs

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Brian Huang

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

ETFs have been one of modern finance’s greatest innovations. They changed investing for millions of everyday people by making diversified investing liquid and accessible. They were products of off-chain financial infrastructure, optimized for the world in which they were conceived.

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Summary

  • Crypto ETFs are legacy wrappers for digital-native assets — they strip ownership rights, block onchain utility, limit trading hours, and charge high fees while offering only price exposure.
  • Direct ownership enables personalization and compounding — onchain portfolios allow customizable weights, tax optimization, yield strategies, governance participation, and 24/7 automated rebalancing.
  • The future is onchain direct indexing, not tokenized wrappers — smart contracts can replace middlemen, preserve asset utility, and deliver diversified investing without sacrificing control or flexibility.

And that’s the problem: ETFs weren’t built for the onchain world. They were designed for markets that close daily, for settlements that take days, for a system dependent on middlemen to execute creations and redemptions. Layer on high fees and static composition, and what once made sense now looks increasingly outdated. 

We’re in a new era where assets have utility beyond just governance and dividends, where transactions are programmable and executed by code — not people — and where wealth can be grown onchain. It begs the question: why wrap next-generation assets in last century’s designs?​​ Crypto ETFs don’t move the model forward — they retrofit onchain assets into legacy financial structures.

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Giving up more than you realize

When you buy an ETF, you own a wrapper around the assets — not the underlying assets themselves. The ETF issuer holds the actual assets, stripping the rights and benefits that come with ownership from you. The Big Three — BlackRock, Vanguard, and State Street — account for almost 60% of global ETFs with over $11 trillion in assets, wielding enormous voting power on your behalf. Most ETF investors have no say in how the companies they invest in are governed.

This problem gets worse in crypto, where assets often bestow staking rewards, governance rights, airdrops, lending opportunities, and other token utility when you hold the asset directly. Crypto ETFs may track price, but they don’t pass through the onchain benefits of direct ownership.

Crypto ETF investors also can’t trade when equity markets are closed, despite spot crypto markets operating 24/7. This inequality leaves ETF investors offside during any overnight volatility. Then come the limitations on asset inclusion. Investors are given pre-packaged options with no room for personalization. Not only do ETFs not exist for most cryptocurrencies, but the ETFs that do exist may include tokens you don’t believe in — or would prefer to exclude. 

Finally, the biggest downside for investors is the fees, which have driven unprecedented profits for issuers like BlackRock. Grayscale’s Bitcoin ETF charges 150 basis points. To put that in context, that’s 15 times the fee of SPY, the most popular ETF that tracks the S&P 500. For retail investors, this means paying ongoing ETF fees for limited exposure, even though they could buy and hold Bitcoin (BTC) directly on platforms like Coinbase without any custody costs.

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Closing the personalization gap 

High-net-worth investors avoid ETFs as part of their core holdings. Instead, they replicate the index by buying the underlying stocks directly (a process called direct indexing). Not only does this give them voting rights, but it also unlocks something much more important: tax optimization. When you own the underlying assets, you can choose which ones to buy or sell, and when. During tax season, this control matters — hold the winners, sell the losers, then use those losses to offset gains. Meanwhile, ETF investors can only buy or sell the entire index. 

But the real breakthrough is onchain personalization. Portfolios can be built with customizable weights and exclusion lists, dynamic reallocation to new assets, immediately rebalance on dips, and decide when and how an individual asset sells, rather than having them stuck in an ETF wrapper. With onchain assets, this flexibility means choosing where to lend and earn yield at the asset level, which was never an option off-chain. The decimalization of onchain assets means anyone can now direct index, whether you’re investing $10 or $10 million. 

The infrastructure already exists to do this better. High-throughput blockchains like Base or Solana (SOL) make this kind of continuous, automated management practical with near-zero fees. Smart contracts are the new middle manager, automating portfolio management while you maintain ownership. They run continuously, executing strategies 24/7 without manual intervention. Unlike the clunky UX that defined early crypto, the new generation of systems hides all the complex steps under the hood, abstracting gas fees, signing multiple transactions, and cross-chain bridging.

Accessibility as a handicap

Crypto ETF evangelists say they make crypto more accessible through familiarity and regulatory clarity. It feels safer to buy something through existing brokerage accounts presented by legacy institutions. But accessibility shouldn’t require giving up the core benefits of an investment. Crypto investors shouldn’t have to choose between traditional interfaces and actual ownership, and that’s what the next generation of crypto apps needs to offer: the same familiarity and safety as traditional brokerage accounts with a much-needed focus on long-term diversified investing. The ease of buying an ETF will be the same as buying a custom, direct-indexed ETF built onchain. Investors won’t have to surrender control, transparency, and the ability to use their assets for governance or lending.

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There have been some attempts at onchain solutions, such as tokenized ETFs, but most just replicate the wrapper model. The problem is that once tokenized, trading of that ETF is bound by the liquidity of the wrapper and not the liquidity of the underlying. For example, Bitcoin and Ethereum (ETH) have deep liquidity, whereas a tokenized 50/50 BTC and ETH index doesn’t. These tokenized ETFs miss the point entirely by trying to offer outdated financial primitives to an audience that is deeply crypto-native and aware of the utility that comes from direct ownership. The wrapper is the wrong model.

Crypto’s new destination

Between 2024 and 2025, the global ETF market grew from $11.5 trillion to over $15 trillion, and projections suggest it will reach $30 trillion by 2030. I see a different world: the world’s assets are moving onchain and can finally be freed from their wrappers. The future gives every investor direct ownership of their assets without middlemen and all of the novel utility that comes with ownership — a world where portfolios are automated, executed cross-chain seamlessly, and built for digital-native assets.

ETFs were brilliant for their time, solving real problems that existed in the 1990s — but we’re not living in the past century anymore. Instead of trying to adapt ETFs for crypto, we should be building new tools for the future of finance. The infrastructure for this new reality already exists. We just need the courage to use it.

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Brian Huang

Brian Huang

Brian Huang is the cofounder and CEO of Glider. He’s a recognized figure in the world of high-frequency trading, having worked at the world-class trading firm XTX Markets, focusing on low-latency machine learning based strategies. After XTX, he led the product development of Anchorage Digital’s trading systems, which are used by some of the largest institutions in the world. Brian first touched crypto in 2015 as part of the infamous Bitcoin Project at MIT, where he also graduated with dual degrees in Computer Science and Management.

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Ethereum Price Prediction: ETH Price Could Reach $2,500 as BNB Weakens and Pepeto Shows the Utility Gains That Matter

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Ethereum Price Prediction: ETH Price Could Reach $2,500 as BNB Weakens and Pepeto Shows the Utility Gains That Matter

BlackRock launched the iShares Staked Ethereum Trust on March 12, and the fund pulled in $254 million in its first week, making it the fastest growing crypto ETF this quarter.

While the ethereum price prediction shows a path toward $2,500, Pepeto is drawing attention with exchange infrastructure already live, more than $8 million raised, and a Binance listing approaching. The wallets entering now are targeting returns the ethereum price prediction needs the full cycle to deliver.

Ethereum Price Prediction Gains Support After BlackRock Staked ETF Pulls $254 Million in One Week

BlackRock launched ETHB on March 12 on Nasdaq, staking 70% to 95% of its Ethereum holdings and paying investors roughly 82% of staking rewards through monthly payouts, according to CoinDesk.

The fund reached $254 million in assets within seven days, according to Decrypt. Goldman Sachs reported over $1 billion in Ethereum ETF holdings, and Larry Fink called blockchain infrastructure necessary at Davos this year.

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The ethereum price prediction has institutional money behind it, but from $2,083 the path to $2,500 is a 20% move that takes patience.

Ethereum Price Prediction and the Presale Offering Returns ETH Cannot Match

Pepeto

As rug pulls grow more common, the cost of entering a project without checking its contracts keeps rising. Every cycle, traders lose more capital to scams that grow harder to detect with each new method. Doing your own research takes hours most people do not have, and it still misses the risks buried in smart contract code.

Pepeto was designed to end that problem before your money is at risk. The exchange is already running while the presale fills. The risk scorer examines every contract for hidden traps and scam patterns, giving you a clear answer in seconds instead of hours of digging through code, so you act with confidence instead of guessing.

The cofounder who took the original Pepe coin to $11 billion with nothing is now building an exchange with zero fee trading, cross chain transfers at zero cost through the bridge, and a SolidProof audit completed before the presale opened. A former Binance expert is on the dev team, 195% APY staking compounds in wallets that positioned early, and the presale has crossed more than $8 million with the Binance listing approaching.

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At $0.000000186 with the same 420 trillion supply that reached $11 billion under Pepe, matching that market cap is over 150x, and Pepeto has the exchange infrastructure Pepe never built. The wallets filling the presale are taking the entry that disappears the moment trading begins, and the holders who are not inside yet are the ones who will spend this cycle wishing they had moved.

Ethereum Price Prediction: Can ETH Reach $2,500 With BlackRock Leading Institutional Demand?

ETH trades near $2,083 as of March 22, holding above the $2,000 support that formed a floor since mid February, according to CoinMarketCap.

BlackRock’s ETHA holds $6.5 billion and the new staked ETHB already sits at $254 million after one week. Resistance levels form at $2,235 and $2,380, and if both break cleanly the next ethereum price prediction target is $2,500.

Losing $2,000 could trigger a pullback toward $1,800. Even the bullish $2,500 scenario is a 20% move from current prices, a return that requires months of positive conditions and institutional follow through.

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BNB

BNB trades near $631 as of March 22, steady despite the broader correction, according to CoinMarketCap. The Binance ecosystem keeps BNB supported, but from $631 the token needs to reclaim $720 before any meaningful run begins.

A 2x requires BNB above $1,200, a level it has never held. Neither the ethereum price prediction nor BNB delivers the distance a presale to exchange listing compresses into the moment trading opens.

Ethereum Price Prediction Points to $2,500 but the Presale Entry Points to Where Wealth Was Built

The ethereum price prediction has BlackRock behind it, the staked ETF is pulling institutional money, and the $2,500 target is realistic. But the smart money wallets filling Pepeto at presale pricing are building positions that expect returns ETH from $2,090 takes years to match.

The crypto news will cover this moment after the Binance listing, and the only question is whether you lock in your position on the Pepeto official website today or pay a higher price later from wallets that moved while you were still reading about ETH.

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BlackRock is staking ETH for 3% yield. The wallets inside Pepeto are targeting 150x, decide which return fits this cycle.

Click To Visit Pepeto Website To Enter The Presale

FAQs

What is the ethereum price prediction for today?

The ethereum price prediction targets $2,500 if ETH holds above $2,000 support. Investors seeking faster returns are looking at Pepeto, where matching Pepe’s market cap is over 150x from presale.

Why is Pepeto trending alongside the ethereum price prediction?

Pepeto has become the presale drawing the most capital because it combines a working exchange with the same supply that took Pepe to $11 billion, positioning it for returns ETH cannot match from $2,083.

How does the ethereum price prediction compare with early presales like Pepeto?

The Pepeto official website offers a presale where the Binance listing compresses the return window into days, while the ethereum price prediction from $2,083 to $2,500 is a 20% move requiring months.

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Iran Warns of Regional Energy Strikes After Trump Threats Over Hormuz Strait

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • Trump issues 48-hour ultimatum demanding Iran reopen the Strait or face power plant strikes.
  • Iran warns of full closure of the Strait and retaliation against regional energy infrastructure.
  • Tanker traffic dropped 90%, increasing concerns over global oil supply and market stability.
  • Iranian officials list potential targets, including Israel and US-linked energy assets.

Iran war live Trump Strait of Hormuz tensions intensified after a 48-hour ultimatum triggered threats of energy infrastructure attacks, raising risks of wider regional escalation and disruption to global oil transit routes.

Trump Issues 48-Hour Ultimatum

The United States has issued a direct warning to Tehran. In his statement, President Donald Trump demanded that Iran fully reopen the Strait within 48 hours. 

He threatened attacks on major Iranian power plants if the demand is ignored. The ultimatum highlighted the strategic significance of the Strait of Hormuz, through which a significant portion of global oil shipments pass. 

Tanker traffic has already fallen by nearly 90% in recent weeks, raising concerns about energy supply disruptions worldwide.

Trump’s statement did not clarify whether nuclear-linked power plants, such as Bushehr, would be included in the strike. This uncertainty added to regional tension, as the potential for collateral damage remains high.

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 “If Iran doesn’t FULLY OPEN the Strait, the US will hit major power plants first,” Trump’s statement read, reflecting the firm deadline.

Iran Warns of Retaliation and Regional Impact

Iranian officials outlined a detailed response as spokesperson Ebrahim Zolfaghari confirmed that the Strait remains partially open under controlled access. He however, warned that any strike on power plants would trigger immediate retaliation.

Iran indicated that a full closure of the Strait would follow any attack, with reopening dependent on reconstruction of damaged infrastructure. 

Officials also listed potential regional targets, including power plants in Israel, companies with American shareholders, and energy infrastructure in countries hosting US bases.

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Iran’s parliament speaker, Mohammad Bagher Ghalibaf, further emphasized the scale of potential consequences. He warned that attacks on Iranian infrastructure could lead to the irreversible destruction of energy networks across the Gulf, maintaining elevated oil prices for an extended period.

Previous demonstrations of Iran’s reach, such as the strike on Qatar’s Ras Laffan LNG terminal, showed the country’s capability to disrupt regional energy systems. 

Regional and international actors are monitoring the situation closely, highlighting the strategic and economic stakes.

Iran war live Trump Strait of Hormuz tensions remain critical as the 48-hour deadline approaches, with both sides maintaining firm positions and regional stability at stake.

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BTC Performance Driven By Individuals While Central Banks Drive Gold Price

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Gold, Bitcoin Price, Bitcoin ETF

The divergence between gold and Bitcoin (BTC) in 2026 can be explained by two distinct segments of buyers, according to Stephen Coltman, head of macro at crypto exchange-traded product (ETP) provider 21Shares.

Gold’s rally over the last three years has been primarily fueled by central bank buying, while Bitcoin is more widely held by individuals than financial institutions, Coltman told Cointelegraph. He said:

“Physical gold has a greater geopolitical strategic role currently, as the asset of choice for state actors who want to store wealth in a way that is protected from rival powers. This has meant that it has traded with greater sensitivity to deteriorating international relations.”

However, BTC has more utility for individuals who may use it as an alternative “lifeline” when local banking infrastructure fails during times of crisis, and accessing the traditional financial system is not possible. 

Gold, Bitcoin Price, Bitcoin ETF
Gold falls below the 50-day exponential moving average, a key support level. Source: TradingView

“Shortly after the conflict started, both the Dubai and Abu Dhabi exchanges were shut down following missile and drone strikes from Iran,” which, he said, is a “stark reminder” of how valuable 24/7 access is in wartime situations or other emergencies.

Coltman told Cointelegraph that the inverse correlation between BTC and gold means that investors should hold both to benefit from each asset’s unique properties.

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Ongoing macroeconomic and geopolitical shocks over the last several years drove gold to an all-time high of nearly $5,600 per ounce in January 2026.

However, heightened volatility dragged the precious metal back down to about $4,497 per ounce, leading to renewed debate among analysts about gold’s role as a store of value asset, and how it will perform against Bitcoin in the coming years.

Related: Bitcoin vs gold shows potential bottom signals as BTC bulls defend $70K

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Financial analysts are split on gold versus BTC dominance

Bitcoin is likely to outperform gold over the next three years, according to macroeconomist Lyn Alden.

“It’s usually a pendulum between the two. If gold has gone up as much as it did, the entire diminishing return story per cycle is going to be erased in the coming one, too,” Alden said.

However, former hedge fund manager Ray Dalio expects that BTC will never replace gold as a store-of-value asset because it still trades like a risk-on asset with correlation to technology stocks, while gold is entrenched as a reserve asset in the banking system.

Magazine: Is China hoarding gold so yuan becomes global reserve instead of USD?

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