If we were guided by the guideline "we don't need this or that" we could say that we don't need any service that undermines the idea of Bitcoin as a decentralized currency - and we all know that there are already a lot of them. An ETF is just a logical sequence of things, it's only a matter of time before it becomes a reality - and then the biggest influx of money could happen, because it's the easiest way for big investors to invest in anything without having to know anything about it.

While I don’t like to compare gold and Bitcoin, the fact is that the first gold ETF was launched in 2003 and that at the time the price of gold was only around $300 per ounce. Ten years later, that price reached $1600 per ounce.

The BTC ETF is not something that Bitcoin cannot do without, but when it happens it will be something that will make investing very easy for those who have the most money.