Regarding these American retail investors, I have a few points I don't understand:

1. Are foreigners really that disciplined? They don't even check their phones or the market during holidays, and they can resist trading. Unlike those small experts in major live streams, who feel like their lives are about to end if they don't place an order, and if they don't trade, they'll be in intensive care tomorrow. We finally have time during the holidays to watch the market and stream, but foreigners are on holiday too, and they can't trade anymore. If they trade again, it would manipulate the market direction.
2. About these ETFs from major institutions, I’ve never understood one thing: Take BlackRock as an example. When foreign retail investors buy Bitcoin through BlackRock, are they buying fixed-term products? Once purchased, they can't sell before the maturity date. Even if the price skyrockets to a billion midway, they still can't sell until the time is up. Or is it that they can buy and sell at any time? This raises a question: why does BlackRock buy or sell a fixed amount on a specific day each time? Why not buy and sell every day? When they’re not buying, does that mean retail investors haven't bought ETFs that day? Conversely, when they sell, is it because retail investors collectively request to sell a certain amount? Or does BlackRock decide when to buy and sell, directly trading with ETF investors in the market to profit from the spread?
Is there any streamer who can clarify this for me?