One thing I keep on reading about is, how institutional investors will be able to buy Bitcoin straight off the market, but really, even if these ETFs were backed by true Bitcoin (or actual Bitcoin or however they're being marketed), why couldn't these same guys simply just get it from an exchange? Open a damned Coinbase account if they're in the US, get insurance, and buy their own Bitcoin? I get that some people want to short, but there's already a futures market for that.

Isn't trading on an exchange a far easier process? I get that SEC would regulate these ETFs, is that the real reason? Or what am I missing out on all the hype?