Like the first commenter said, what ever has an advantage sure has a disadvantage and vice visa, and coming to whether bitcoin ETF is good or not, sure thing, there are a lot of disadvantages as already listed by the op, but have we also looked at the advantages? One of it being that bitcoin is now legal in the USA, and US citizens can now invest in bitcoin through the ETF.

Personally, I feel that without bitcoin ETF being approved, bitcoin may struggle to gain adoption as we all want, and this is because, lots of countries may continue to place ban on bitcoin prohibiting citizens of that from buying or transacting in bitcoin, but right now the ETF have been approved by the US security and exchange commission, the whole wide world should now see and believe that bitcoin is legal and not a scam as many think or thought.