The thing is.... do we want Institutional capital to enter Bitcoin and dominate the ownership of coins ...or do we want an more even distribution of coins to millions of people?
~snip~
Will BR ask you or me or anyone other than the SEC whether or not such an ETF can be launched? Of course, we don't have a say in all of this, and the fact is that Bitcoin is decentralized and everyone has the right to use it the way they want - even those who, for some reason, send it to burn addresses.
On the other hand, we are now in 2023, and Bitcoin has existed since the beginning of 2009, which was quite enough for anyone who wanted to take their share in it in one way or another, and they can still do so. However, considering how the majority perceives BTC, we can hardly hope that they will resist not selling it when some six-digit prices turn up, but there will always be those who will prefer to keep it or use it as a currency.
Maybe I'm wrong, but I don't think the spot ETF we're talking about will result in some kind of massive outflow of BTC into custodial storage, and BR has chosen Coinbase for that anyway, which means that they will buy BTC for them on their exchange and send it to another coin address - which ultimately means that BTC will remain where it is now.