>> Their interests are in ensuring the entire ETF goes up...
Things like automatic enrolment in 401K plans, or automatically bumping employee contributions by 1 percent will also benefit the broad market and funds.
Yes, as does curing COVID and protecting the environment.[1] And on the less good side: broad-based price hikes instead of fighting with the competition over market share in a race to the bottom.[2] It remains to be seen whether ETF ownership is connected to "greedflation", but I believe so.
[1] https://newsletterhunt.com/emails/12216
[2] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2632024