"ETFs are backed by actual real underlying" is quite a statement for anybody who understands how Wallstreet actually works. Literally every US financial crisis

"ETFs are backed by actual real underlying" is quite a statement for anybody who understands how Wallstreet actually works. Literally every US financial crisis can be summarized as "it turned out not to be backed by anything". More info: https://www.amazon.com/Decade-Armageddon-New-Geography-Essays/dp/1910151580 https://www.amazon.com/Decade-Armageddon-New-Geography-Essay... VW squeeze: short positions that cannot be closed, because more stocks where sold than where supposed to exist. Same thing for Gamestop (except worse, 220% shorted at some point). 2008 crash: packages of high quality mortgages / credit that turned out to be backed by 0 high quality mortgages. FTX scandal: sold tons of "Bitcoin" that turned out to never have existed + traded "tokenized stocks, backed 1-by-1 with real stock by some shady broker in Germany" that turned out to be a complete lie.