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
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