Ten of the 11 spot Bitcoin ETFs and eight of the nine newly approved spot Ethereum ETFs are hosted by Coinbase, Gabor Gurbacs, advisor to Tether Strategies and VanEck, said on the X platform, questioning the prudence of storing such immense value in one entity. "Coinbase holds the assets of 10 of the 11 spot Bitcoin ETFs and nine of the Ethereum ETFs," Gurbacs wrote. "While I believe they have an excellent security team, I fundamentally question the competence and judgment of the fund issuer's board and risk management committee, which considers this an acceptable risk."