According to Eric Balchunas, the unique leadership philosophy of John Bogle, who famously prioritized industry health over market dominance, has significantly shaped ETF market dynamics. Balchunas underscores that Bogle’s approach, which aimed to reduce his own firm's market share for the greater good, has influenced regulatory attitudes and competitive structures within the broader financial sector (source: Eric Balchunas on Twitter, May 7, 2025). This shift is increasingly relevant for crypto traders as ETF models and regulatory frameworks inspired by the Bogle Effect are being discussed for spot Bitcoin ETFs and other digital asset investment products, potentially impacting liquidity, fee structures, and market accessibility for crypto assets.