Security of their bitcoins, their fund and privacy as well as anonymity are different. They maybe don't care about privacy and anonymity but they must care about security of their fund and their bitcoins.
If they store their bitcoins on centralized exchange, their fund security is unknown and they can not control what is doing by the exchange with their money there. It's not their Bitcoin private key, it's not their bitcoin too.
About investment profit, let's say you only can get profit if you can protect your initial capital and don't lose it. If you store your fund on a centralized exchange that scam, exit and disappear or hack and die after that, your fund is lost and not compensated. In that case, you will not get any profit from your investment even Bitcoin price has grown a lot since your entry.
I agree with what you say and although both are centralized organizations, but I think they have quite a few differences. Especially in terms of security as well as legality,
ETFs are safe enough and much safer than centralized exchanges.
Blackrock, Fidelity, ARK Invest are all ETFs that manage trillions of dollars and have been around for a long time, with Blackrock operating since 1988 and Fidelity operating since 1946. Most importantly, they are strictly regulated by regulatory bodies like SEC, government. Unlike Binance and OKX, these exchanges lack regulations and legal constraints. Therefore, it is not possible to equate them all with the same level of risk.
I believe that investors, the whales who own billions of dollars, they are not stupid enough to not know how to protect their money. Think about it, why would they choose to trust ETFs instead of centralized exchanges? Therefore, in my opinion, ETFs are safe enough for us to trust.
[/b]
Agree!
