The ETFs are effectively an API into tradfi regulated fiat that Bitcoin never had previously.

All the ballaches of exchanges which have a propensity to blow up are bypassed, and the learning curves with wallets and signing transactions avoided.

I think they’ll eventually get 6102ed and rek a lot of people but in the meantime it’s a blackhole accelerating Bitcoin’s ability to demonetise other assets.

Seems to me they’ll soak up all available liquidity until absolute scarcity hits and sends Bitcoin to the moon - that’s when Bitcoiners get to dictate terms.

I want to see Blackrock on Bisq and RoboSats bidding 20%-30%-40% overs like a junkie desperate for a fix and OGs pissing themselves laughing, demanding islands in the Caribbean or NYC square blocks for a wholecoin.