What makes a cryptocurrency spot exchange-traded fund so valuable?

Bitcoin is a deflationary currency, which makes it sort of like a collectible, a Beanie Baby if you will, except with this collectible it has a built in scarcity factor, which you might say who cares right, but unlike the aforementioned Beanie Babies, Bitcoin has and is used all around the world in dark markets, so it really does have generated value... for criminals.

Binance and Tether have built their dark empires off the back of Bitcoin, but now, say you have a bunch of approved spot Bitcoin exchange-traded funds all over the place, which now allows grandpa Joe and aunt Tina the ability to take a pre-tax deduction out of their paychecks each pay day to buy said Bitcoin to get added to their 401K and pension funds.

This will inevitably drive the price of Bitcoin up just like it does in traditional markets, but unlike traditional markets where they could easily split to create more shares, there is only 21 million Bitcoin, so now you have grandpa Joe, aunt Tina, Binance, Tether, and every other criminal entity all fighting for those same 21 million Bitcoin, which will you guessed it... drive the price per Bitcoin ever higher.

What do you guys and gals think about all this?