No, certainly not the only aspect of adoption. Go to Nigeria, go to El Salvador, the Russian and Chinese governments are likely mining. No, ETFs are only important from the ignorant westerner's perspective. There are many things going on outside of that.

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Discussion

Do we have a #Bitcoin adoption problem, if we rely on the Chinese, Russian and US governments (via ETFs) for adoption? What if the ETFs don’t create the desired snowball effect? Is adoption momentum stalling? What’s next?

Not to worry, there will be a crisis and .gov will print more money so people can see the contrast between fiat and sound money. It comes in waves.

There is no adoption problem. Everything working as designed. Enjoy the ride.