Can an ETF really collapse?

Recently a short paper was written by Andrew Bogan, Brendan Connor and Elizabeth Bogan, which suggested an ETF could collapse due to the fact that the published short interest can be larger than the shares outstanding of the ETF trust. Our point of view differs. The authors proposed that if all the shares covering the short interest were to be redeemed at the same time an ETF could be depleted of assets and therefore close. The authors suggested the remaining shareholders of the ETF would be left with a worthless asset which isn't backed by any underlying assets. This is simply not po...