Please note that the following answer only applies to clients of our german Wealth offering.
Should an ETF provider become insolvent, the assets managed by the ETF are protected from insolvency by their status as special assets. In the course of the insolvency proceedings, the insolvency estate as well as the claims of the creditors against this insolvency estate are determined and the creditors are served according to their claim. The assets managed by ETFs do not become part of the insolvency estate and are thus protected from access by the creditors of the investment company. Only the holders of the unit certificates of the ETFs are entitled to their pro rata share of the assets managed by the ETF.