Yeah they just don’t get Bitcoin at all.

Some of these ETF simps would probably never buy bitcoin without the ETF. That or they wouldn’t until there were major fiat failures that necessitated it and price would be ≈100x what it is today.

But it would hurt seeing all the people who held ETF shares get rugged if fiat abruptly fails and the fund managers with the keys absconded. Or governments confiscate the fund’s Bitcoin.