Bitcoin ETF are not bitcoin but a token backed by bitcoin price in the spot market. That is why some people are going for it. But I can not go for something like that. I prefer to have bitcoin instead. Bitcoin ETF was approved in United States early this year and it is having a marketcap of almost $1 billion. Although that is a good news but I can not go for it.
You are smart my friend and this is more reason why those who are fully informed about Bitcoin are better. Bitcoin is a system of its own that is accessible and manageable to anyone, and it can even protect the interest of the HODLer than the ETF package itself which is just an "I Owe You" arrangement. This is a way to further decentralise Bitcoin under a guise, and imagine, if any of the ETF companies go bankrupt today, you will always have access to your Bitcoin since you never relied on them. But that can't be said of those who relied on them, they may wait for years before they have access to their funds (that's if they will ever recover it).
Some people would have even died waiting, which makes it so discouraging to me. It is not entirely bad though as it will increase BTC investment, but the ETF was meant to make accessible assets that were not accessible to ordinary people. Just like Crude oil and digital Gold, you can't just wake up in the morning and have access to them as we do with our various Bitcoin wallets. If we have that asset already, what do we need ETF for? It's just like having access to operate your Bitcoin bank yourself but preferring others to do that for you, not even minding the extra charges the ETF will attract.
