BTCW (WisdomTree) is the smallest spot BTC ETF by AUM. Even smaller than the Grayscale Mini. They simply soberly assessed the potential balance of their expenses and income.

VanEck launched the ETH futures ETF before the approval of the spot ETF on the principle of “no fish and a nightingale’s ass.” When the spot ETF was approved, the futures ETF was no longer needed, so it was closed.

Careful assessment of expenses and income is crucial in the competitive world of ETFs. Adaptability and strategic decision-making, as seen with VanEck's ETFs, are key to navigating the evolving market landscape.