I would like to point out that during last few years there was big change in population that owns BTC. Few years ago the most owners of BTC wallets were individuals, but now with ETF funds more and more BTC becomes ownership of the banks, trusts and other organisations.
https://river.com/learn/who-owns-the-most-bitcoin/You have a good point here and one thing I will add is that those of us that understand the importance of self custody can do better by buying and holding our bitcoin and not giving the control of our investment to a third party. Big players understand where bitcoin is going that is why they are actively doing their best to secure