Dude, CME and CBOE are implementing the exact same methodology as gold futures. The paper contracts are settled in cash. Next to no BTC is involved. Its a moot point.
any trader anywhere can immediately and instantly take delivery of their bitcoin wherever they are in the world 24/7. they'll know it's real, it can be verified, no one can take it off them, it can't be faked.
no gold trader has ever had that option anywhere ever. it's impossible to achieve. they've always had nothing but promises and may never have touched or seen any real gold in a lifetime of trading it. this was long before stuff like gold etfs arrived. it's always been that way.
that makes it a totally different proposition. i don't think enough wall street guys realise this. they might think it's just another thing you can use to pull the wool over everyone's eyes. it's pretty much the first and only thing that doesn't allow that which is why it's such a big deal.