That wouldn’t destroy Bitcoin.

All I’m saying is that all these products will be huge honeypots. Through either bad intent, incompetence, or state capture, some of them are bound to fail. I know that Bitcoin has properties which make this harder, but banks like JP Morgan have manipulated metals markets using products like this for ages.

I couldn’t in my right mind recommend an ETF product to a friend or family member, and that’s why I’m not overly excited about them right now. They will bring institutions and mature investment funds, possibly even pensions, but they also set up a whole new round of learning “not your keys, not your coins.”