MarketPR
Danny Sanders, Chief Commercial Officer at hardware wallet maker Trezor, is pushing back hard against the institutional packaging of $BTC — arguing that funneling bitcoin into exchange-traded funds represents the worst outcome the asset could face.
Sanders pointed to self-custody complexity as one of bitcoin's most persistent onboarding challenges, a friction point he says the ETF path conveniently avoids rather than solves.
The Self-Custody Problem Sanders' core concern is not that ETFs fail to deliver price exposure — it's that they strip away what he sees as bitcoin's foundational proposition: individual ownership and control of the asset.
The "let's just put it in an ETF" instinct, in his framing, is a shortcut that trades away the point of the technology for the comfort of a familiar wrapper.
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