Trezor executive: Bitcoin 'all in ETF' or worst path, threatening the core principle of self custody According to BlockBeats, on June 15th, executives from hardware wallet manufacturer Trezor stated that the market's push towards ETFization of Bitcoin may pose long-term risks to the core principles of the cryptocurrency industry. According to Danny Sanders, the Chief Business Officer of the company, during the BTC Prague event, the current global cryptocurrency user base is about 600 million, but only about 10% of users choose to self fund their assets, with only about 12 to 13 million users using hardware wallets. As the US spot Bitcoin ETF has attracted over $53 billion in capital inflows since its launch in 2024, the institutional allocation of Bitcoin has significantly increased. However, Sanders pointed out that this trend may also weaken the behavior of users directly holding private keys. He believes that self custody is one of the core attributes of the Bitcoin system, but there are still significant challenges in terms of user experience and security thresholds, and more users still tend to participate in the market through custody tools such as exchanges or ETFs. Sanders emphasized that the industry should focus on improving the ease of use and security of self custody, rather than simply accepting the path of 'putting Bitcoin into ETFs'. He stated that if it evolves into a holding structure dominated by ETFs in the long run, it will weaken the underlying logic of Bitcoin as a decentralized asset, which may be the "least ideal outcome" for the industry. [Original link]