There’s a huge lack of consumer benefit for Bitcoin ETF’s and it could be disastrous for BTC.

With the ETH future ETF opening to abysmal volume it begs the question why do we even need/ want this. What are the inherent benefits of owning BTC or ETH through an exchange traded fund as opposed to direct ownership? It seems to me the only reason ETFs are hyped rn is because of the potential to inflate existing bags.

The concept directly contradicts the values of crypto. It looks like This sub wants the next bullrun to be initiated on every fundamental it opposes: Indirect ownership, centralization, and government (FDIC) backing. Then they want to capitalize and exit. This is the opposite of being “in it for the tech”.

Obviously there are risks to self custody but those risks are also the fundamental benefits of crypto. Having an insured investment is a positive when you look at the likes of FTX and other crypto exchanges but why is the answer a spot ETF?

Anyone who enters crypto under this dissolution will not be happy with the outcome. What makes crypto strong is the freedom and empowerment it gives users. Submitting these values will only give Bitcoin a negative connotation and drag it further away from what it needs to represent and push public favor in the wrong direction.