I think the Fed will continue to be the money printer. Simply shift their role from printing USD to authorizing the issuance of CBDCs. They might federate it through the existing banking infrastructure (ie. the fednow infra they r putting in place now)

The bastardized Bitcoin ETF gives them the ability to set base pricing and foster a derivitives market based on their shitcoin that they control. It's fiat debt economics on steroids with dystopia surveillance/control baked right in.

In terms of CBDC introduction, they would need to "contaminate" mainstream digital banking system as quietly as possible. But that's easy since we are already using "digital dollar" and 90% of people won't question nor understand the difference.

A CBDC underlying Blackrock ETF will be one easy way to convert a large number of institutional holders who wont care as long as it looks like number go up (ex. shitcoin casino). Again, they now control pricing and enable derivitives which are essential to a debt economy.

Converting large credit company's will be simple by convincing Visa/Mastercard/Amex to move their underlying settlement rails to CBDC for cheaper, faster settlement.

Then the regular American public' holdings will be easily converted through banking incentives - convert your account to a CBDC account and get a free $100 today! Settlement is faster, you get shitcoin defi-like high yield interest

Tldr: cbdc conversion is easy if they can co-opt and control the following pillars:

1. Blackrock ETF controls price and enables derivitives

2. Credit cards control payment rails and movement of money

3. Banks control the physical custody

When you control base price, movement, and holdings, you control the system as a whole.