When you own shares of a Bitcoin ETF, you don't get to choose what path you want to take and if the community decides the new fork is the way to go.. I doubt the financial institution would take the risk of switching networks.
It's more likely that the institution will decide which bitcoin version the ETF will be holding; and I could almost guarantee that they're just going to pick the bitcoin version with the highest marketcap.
With all the hassle it seems to be to get an ETF approved, do you think financial institution would go through the hassle of giving their share holders their owned value of the second chain? How would that work exactly?
Unless some of the processes change, I doubt it. Even though Coinbase has provided the forks in the past.
Edit: It’s funny. I also posted this on reddit and it got removed by a moderator. Probably because I mentioned ordinals, which wasn’t even the subject of the post? Really goes to show they do not encourage discussion over there.
Reddit r/bitcoin is honestly the worst. Just a teeny tiny mention of an altcoin will have your post deleted even if it's relevant to the story/topic that revolves around BTC.