An ETF is not permissionless money and unsolves the double spending problem Satoshi solved. "Cryptographic signatures provide part of the solution, but the main benefits are lost if a Trusted Third Party is still required to make a transaction."(The second sentence of the Bitcoin white paper).

Bitcoin was born out of the Great Financial Crisis. The entire banking system was on the verge of collapse.

Satoshi inscribed the words, "Chancellor on the Brink of Second Bailout for Banks" into the genesis block.

A bitcoin ETF makes about as much sense as towing a Tesla Model S with a few horses. What's the point?

The price is already heavily manipulated by the enemy. Greater adoption by the public coupled with a much higher value in the future would potentially help solve this issue.