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BTC vs Gold

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A stupid question: Does the BTC ETF have to be "physically" collateralized, i.e. do they also have to hold the corresponding BTC?
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@Charmin They must be physically deposited!
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Merci. I already thought so.

But you know the conspiracy theories that the gold ETFs are not really physically backed and if everyone wants their gold, then it doesn't exist and so on.

But I didn't know whether there was any regulation for BTC ETFs.
I misunderstood the question, of course they have to be deposited with BtC!
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