Why crypto exchanges get hacked, and Bitcoin ETFs do not | Opinion

In September, Bitget, one of the world’s larger crypto exchanges, lost about $352 million from its internet-connected wallets. A year and a half earlier, Bybit lost about $1.5 billion. Indian investors remember WazirX, which lost about $230 million in July 2024 and froze withdrawals for months.

Over the same period, US spot Bitcoin ETFs have grown to hold more than $100 billion of Bitcoin. None of them has reported losing any to a hack.