People buying these shares are not thinking 5-10 years into the future. They're missing one of the most important features of Bitcoin & that's ok.

At the end of the day man, a 6102 is confirmation that this stuff is as valuable as gold. It's recognition that it's of enough strategic significance that it warrants violating people's property rights.

It will be a massive win for Bitcoin. The real battle will be with the plebs who control their UTxOs. Can they weather the attack by maintaining exclusive access to their secrets? Will they just hand over their keys for millions in fiat denominated debt tokens?

I think the 6102 play was a reasonably low risk with the UTxOs controlled by so many geographically dispersed individuals. The centralising effect of the ETFs increases the incentives for it to the point that it's almost a foregone conclusion.