The CME -Bitcoin futures in my opinion, is just a way of big whales to get the money of the traders around the world, they are just showing it like "hey this is Bitcoin , people approve it and you can earn money here invest now", There is a big risk here and that is the money flowing in the exchanges that will be opened to all people around the World. This big whales are experienced trader and their stock trading skills will help them to manipulate Biutcoin's price.
I agree with you, that opens the doors to Bitcoin price manipulation. But still, does it change anything from current situation ? The price of all the crypto-currencies is manipulated, and yet, are they for this reason failed experiments ? No. Now, probably the money for idiot wanabee traders will go to Wall Street bankers rather than to Chinese whales. And I think this is a good thing for all of us.
Yes that is true, but there is also the chance that they can destroy long term holders. The way I see it right now, is that if it suits them, they might try to simulate crashes of the coin, and they might even be able to crash it all together since the current liquidity is nothing compared to the money they actually have available. I just want BTC to succeed, and they just want to make profit. Since BTC price should be huge if it manages to get mass adoption and go for the long term, then maybe both goals can be aligned (profit vs real use). If this happens, then Wall Street entrance will be great for the coin, if they want different things, let's just hope that bitcoin proves again that is stable and no one can destroy it.