Bitcoins are valuable because you can move jurisdictions with your wealth intact.
ETFs lock your wealth to your jurisdiction - the exact opposite of the main value prop.
Discussion
Also valuable as an inflation-resistant store of value. ETF may be a gateway drug for some. 🤞
I was hoping someone would throw me this alley-oop...
All ETFs have management fees that eat away at your holdings every year, essentially inflation.
I'd imagine it's better than holding dollars, but we'll see.
It is better than holding dollars, but that's not saying much - lots of investments that'll outperform dollars.
Respectfully, your post makes assumptions about why people might choose to value Bitcoin. You initially suggested that the ability to move jurisdictions was the "main" value prop. I think that's a highly flawed argument.
Surely some will value that attribute but others may be quite happy and settled in their jurisdiction and simply want debasement protection without the hassle or risk of self custody.
It's up to each individual to create a value judgment against personal opportunity cost of time and energy for everything in their life, including owning, studying, custodying Bitcoin.
If fiat end times are nigh and tyranny abounds sufficiently ominously, they'll adjust their value dials accordingly or get swallowed up.
Think about it this way,
If you need debasement protection, what you're really meaning is you need protection from someone changing consensus rules not to debase said currency.
That's what Bitcoin provides, only because it can resist multi-govt collusion to such an effect.
Which is also the only reason you're able to jump jurisdictions.
It doesn't really matter why you specifically value Bitcoin, it will always be valued for it's whole & if govts had control over consensus no one would value it anymore...Agree?
"wealth"
Your reasoning is circular - only if Bitcoins are valuable do they enable transfer of wealth
ETFs will let them effect Bitcoin price even more after pushing it up.