Other than changing his risk profile, what other negative effects does his decision have on the rest of us who hold in cold storage?

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His actions have no effect on us

Seems like Eric made a good point

If you hold your own keys and run your own node, I’m not sure how much that sort of “de-decentralization” affects you. But rest assured now you having me mulling this about even more.

A prominent voice being a little bitch is likely to cause others to do the same and thereby reduce decentralization of the network.

Good point, to go all in on etf does kill the decentralized advantages of the network. Thanks for responding