What Happens Inside of ETF?

The first t f s p y was designed by this guy, nate most he, we used to work on the pacific commodities exchange. The e t f design is simply modelled off of commodity warehouse receipts. i think that commodity's warehouse design gives people a visual so they can kind of understand me t s. They're actually like futures or derivatives, where theyre just back by like the institution,. But they're not your ther stocks in a locker, which is the custodian.