NOTE : Questions from LAYMEN.
bitcoin is made without regulations, is decentralized, and controls everyone who has bitcoin. and in my opinion ETF is a rule that must be passed by Bitcoin. so will Bitcoin fail or die if the ETF disapproves of the bitcoin proposal? while Bitcoin has grown longer before going to ETF.
Tried, tested, blamed, still for a decade Bitcoin is going good (antifragile). Like the futures, ETF would be a much better opportunity for the rich bags with fiat to get into bitcoin. It would further establish Bitcoin as a mainstream financial asset when it's a peer-to-peer censorship resistant currency.
You did saw the hype futures brought in December. Something like that would happen have if SEC approves Bitcoin ETF, but temporary/artificial, maybe again some FOMOs would get burned.
Bottom line, why a decentralized network worry about its survival if a centralized proposal is approved or not.
Totally!!!ETF won't hurt it.It will only be beneficial for Bitcoin, especially for the rich bags with fiat to get into it like you said!