What risks are you exactly referring to that will be reduced? People and institutions that invest in an ETF, may not actually own any Bitcoins, but they are still exposed to the volatility that this market experiences. After all, it's not for nothing that two ETF's have been rejected by the SEC. Currently, we're waiting for the SEC to finally come up with a decision regarding the ETF review. It has taken so long, that a lot people here don't even remember that there is an "ongoing" ETF review happening.