ETFs are a milestone, but they dont prove Bitcoin's strength. They're one of several ways to spread Bitcoin. Like adding additional taste to a rich dish, its interesting but not necessary. Bitcoin's charm is its independence.
I don't really understand Bitcoin ETFs but from what I have learned, Bitcoin ETFs allow asset management companies to buy Bitcoins and they will provide a contract that proves Bitcoin ownership. To me it sounds like buying and selling shares. One of the advantages offered is that many of the world's largest asset management companies will join. And will open up opportunities to include many other large investors in the future.
The disadvantage of ETFs is that it is easy for whales to empty the price pumps so that we will not see a crazy increase like we did in 2017.
I think so too. This means that if the Bitcoin ETF is held by several asset management companies, then of course they will try to maintain Bitcoin price stability. And there will be a possibility that the contract value they provide will not be the same as the amount of Bitcoin they have. In my opinion, Companies like Blackrock will control the price of Bitcoin to maintain their stability and profits. The price of Bitcoin will pass hundreds of thousands of dollars and it is possible that the price will not go down and will not go up so there will be no more price pumps in the future.