According to Eric Balchunas, concerns about ETFs being 'untested' persisted in financial media for over 20 years despite extensive real-world performance. The turning point came in March 2020 when ETFs demonstrated robust performance under market stress and were actively used by the Federal Reserve to stabilize financial markets, proving their resilience and reliability as trading instruments (source: Eric Balchunas, Twitter, May 3, 2025). For traders considering crypto ETFs, this historical precedent highlights the importance of assessing ETF performance during volatile periods and monitoring institutional adoption as validation of ETF stability.