So, the much anticipated (under speculators) Bitcoin ETFs have recently been approved by the SEC. Most speculators bought into the hype, expecting a massive increase in the Bitcoin price. 
The question you have to ask yourself is this :
1. Do you want large institutional financial organisations buying large amounts of bitcoins and then locking it up in centralized trading platforms?
2. Do you want Bitcoin to be a commodity or a currency? ETFs will destroy the goal of Bitcoin becoming a currency.
3. ETFs take direct investment capital into personal ownership of Bitcoin away and it pulls that capital into centralized trading platforms. (Those coins are owned by the trading platform, because they control the private keys)
4. Fiat whales get control over bitcoins and can be used to manipulate the Bitcoin price. (They control the traditional Fiat investment options, so they will gradually increase their ownership of bitcoins to control that too)
5. ETFs destroy pseudo anonymity, because it is highly regulated with strict KYC requirements implemented to identify every trader on their platform.
6. Bitcoin's future success rely on actual coins being transfered on the Blockchain, because it generates miners fees to reward the miners. What happens when the Block reward falls away and not enough transaction happen, because bitcoins are locked up in ETFs.
I hope people are not too blinded by greed to see the dangers of Bitcoin ETFs and the centralization of the tokens in Fiat controlled trading platforms.
Let's discuss..
Do you still think Bitcoin ETFs are the Knight on the white horse?
The question you have to ask yourself is this :
1. Do you want large institutional financial organisations buying large amounts of bitcoins and then locking it up in centralized trading platforms?
2. Do you want Bitcoin to be a commodity or a currency? ETFs will destroy the goal of Bitcoin becoming a currency.
3. ETFs take direct investment capital into personal ownership of Bitcoin away and it pulls that capital into centralized trading platforms. (Those coins are owned by the trading platform, because they control the private keys)
4. Fiat whales get control over bitcoins and can be used to manipulate the Bitcoin price. (They control the traditional Fiat investment options, so they will gradually increase their ownership of bitcoins to control that too)
5. ETFs destroy pseudo anonymity, because it is highly regulated with strict KYC requirements implemented to identify every trader on their platform.
6. Bitcoin's future success rely on actual coins being transfered on the Blockchain, because it generates miners fees to reward the miners. What happens when the Block reward falls away and not enough transaction happen, because bitcoins are locked up in ETFs.
I hope people are not too blinded by greed to see the dangers of Bitcoin ETFs and the centralization of the tokens in Fiat controlled trading platforms.
Let's discuss..
Do you still think Bitcoin ETFs are the Knight on the white horse?