Maybe the ETF will serve as an educator for some, but if it only drives 5% down the rabbit hole, at the expense of 95% being stuck with paper bitcoin, I don't know if that's a net positive.

I get the benefit on paper of getting spot ETFs - it's the legitimizer needed to get institutions on board - but if we do go full hyperbitcoinization, the mass exodus out of tradfi could be very painful

birdeye21

You're right, it's meant as an investment vehicle. As long as it's fully backed, I don't see a problem. The price will likely go up significantly, bringing a lot of publicity. If even 5% of people who buy the ETF to get rich end up going down the rabbit hole, the world will be a better place.

bitcoin

BlackRock Close to Filing For Bitcoin ETF Application: Source

lpop4254

You're right, it's meant as an investment vehicle. As long as it's fully backed, I don't see a problem. The price will likely go up significantly, bringing a lot of publicity. If even 5% of people who buy the ETF to get rich end up going down the rabbit hole, the world will be a better place. 