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> Technically, all the Nvidia stock (and virtually all stocks in the US) are owned by Cede and Co.

Technically, but they extend ownership. An ETF is a different type of abstraction. Which you already know because you spoke about that abstraction in your original comment, so why play stupid now?



I have no clue what you mean by 'extend ownership', and it's supposed to be different from what ETFs are doing.

An ETF typically holds the underlying assets, and you own a part of the ETF.




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