Prior to 2017, there was no futures market for Bitcoin and all trades were 100% spot.

Now, futures volume for Bitcoin is up to 10x the spot volume.

The silver market is also notorious for having a large futures/paper market compared to physical and is likely one of the reasons why silver prices are able to be suppressed.

Is Bitcoin going to suffer the same fate as silver, with future prices being suppressed? Will Bitcoin-futures-backed-ETFs be the nail in the coffin?

Thoughts? Keen to hear any arguments against this view.