Some Bitcoin investors are exchanging their self-custody bitcoin for ETF shares...

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That is some sad shit.

Imho, the ETFs are ok for money in a 401k or Roth IRA. You are harvesting free money from a company match, and/or trying to be Peter Thiel with a Roth.

Retarded otherwise

SBLOC at fidelity doesn't recognize Bitcoin ETFs yet, I was quoted like 11-12% interest for a margin loan at 30% the value of the ETF assets.

Don't plan on using those products as it is.

Yeah - it's high time preference thinking IMO.

Counter party risk doesn't really matter until everything goes pear shaped.

It's relatively easy to transfer value back into the fiat system but slow & difficult to rescue it again.

They’re called ‘retards’