You buy an ETF, you own paper.. That paper won't necessarily go up or down along with Bitcoin. You have expenses embedded in the ETF.. Just buy the Bitcoin. If you're one looking to buy it as an investment rather than as a currency to buy things with, Bitcoin was the best returning asset in 2023.. The ETF is a back door attempt to control the price of Bitcoin. There will be futures and options contracts people could sell in bulk. That might cause the price of a Bitcoin to go down. When you have an unlimited amount of money (The FED & friends) ponying up the margin on futures sales might not be all that tough to do. You start trading futures, you never have even touch the real thing.