Bitcoin is moving from long-term holders into new addresses managed by ETFs
Bitcoin ETFs, first approved by the SEC in January 2024 after more than a decade of denials, allow investors to gain exposure to BTC without the need to buy, hold, and store Bitcoin directly, avoiding the complexity of crypto exchanges and wallets. BlackRock's Bitcoin ETF alone now holds over $83 billion in assets under management.
https://finance.yahoo.com/news/bitcoin-etf-flows-save-btc-162652497.htmlNo. Bitcoin isn't deviating from it's core principles of self custody. Regardless that centralization is gradually dominating in Bitcoin acquisition recently, Nothing beats being in charge of your own coins.
This however is a case of people who are not interested in being responsible for the full security of their Bitcoin, they buy shares of crypto portfolio managed by those ETF providers.
This isn't the main idea of Bitcoin. Bitcoin was created for decentralization and self custody and those entrusting theirs to centralized schemes risk losing their coins if the ETF platforms should collapse.