Okay, Bitcoin ETFs were huge, no doubt. They brought in a ton of institutional money, and the price definitely reacted. But here’s something I’ve been thinking about: are they actually good for Bitcoin’s decentralization in the long run?
The incidence of bitcoin ETF has helped many institutions to have better priorities for their stock market indices to use bitcoin market price for it profitability or losses, some this alone make as many as possible accept to adopt bitcoin ETF and apply to SEC for the approval, now after all these, we can say bitcoin is helpful in many ways to these organizations and institutions.
Secondly, these same centralized bodies have also been investors of the same bitcoin itself, whereas this is something different form their shares they pegged to bitcoin market price, which is another advantage to them as they make more money investing in bitcoin.
Lastly, on the note of the general public, we have seen bitcoin being a decentralized digital currency and that was the aim of the creation right from the start, for the people to have alternative to fiat system, ETF investment is not bitcoin investment, instead, they are shares and assets that are being pegged on bitcoin market price volatility, which people are still much more interested in bitcoin than ETF, while none is affecting another if we truly understand how the pattern works.