Danny Sanders: Bitcoin's Excessive ETF-ization Threatens the Core Principle of Self-Custody

Trezor Chief Business Officer Danny Sanders stated that full ETF-ization of Bitcoin could undermine the core property of self-custody, which is the least ideal outcome for the industry. Currently, among approximately 600 million crypto users worldwide, only about 10% choose self-custody, with hardware wallet users numbering just 12 to 13 million. Since the launch of US spot Bitcoin ETFs in 2024, more than $53 billion has flowed in, causing more users to lean towards custodial solutions. The industry should focus on improving the usability and security of self-custody rather than simply accepting the ETF-ization path for Bitcoin.