It's not that I am for or against them. It's an off chain, second layer solution that is audited by humans.

The problem is they all rely on a single trusted third party. I read they all use Coinbase custodial services. Fuck Coinbase. I didn't forget about the bcash bullshit.

If I was king of the SEC, I would require multi-institution collaborative custody ETF or a Liquid BTC ETF that uses multisig.

That being said, if I had a job that offered a 401k match, I would consider using it because the match, and tax shelter, is worth the custodial risk to me.

There are other tax advantaged things that might make it worth while, but these Bitcoinn ETF's are not as secure as on Chain Bitcoin, nor can they be used to buy coffee.

Since I don't have a 401k, I donct see myself investing in a BTC ETF, but I would if I had some sort of match, but under no circumstances would I sell my actual bitcoin for a BTC ETF.