It'll drive us more under the control of the government, ETF are centralized so imagine how many Bitcoin they'll be hodling when new investors only buy Bitcoin throughout ETF, it'll make leaving Bitcoin with centralized platforms to become a thing again. With Bitcoin being held with the ETF, it might make regulation to be talked about more and since it will be mostly people in high places that'll be more interested in the ETF, they'll want to have the new industry that they'll be investing into to be regulated to prevent them from losing and protect their investment. The institutional investors are all in for the regulations and they will be the ones making use of ETF while regular investors like you and me will be making use of exchanges to get our Bitcoin.

On the positive side, it'll bring more exposure and more money to the industry which will affect all areas of the market and influencing the price of Bitcoin to new ATH. More institutional money will be coming into the market and that is a positive thing. After the ETF platforms get attacked, it'll draw attention to non constodial wallet so it isn't a total lost for decentralization because it might just be what we needed to get the industry back on track because we have been diverting from the original Idea of Bitcoin recently with the introduction of ETF and losing the function of Bitcoin as a currency..