Here's some replies:
Very few that have grasped the concept of self sovereign safe storage practices will go to a centralized promise of paper Bitcoin. I do think a moderate percentage of people who exclusively hold on exchange (for "safety" reasons) will sell and switch to an ETF product.
Only you can decide the best security solution for your bitcoin. Every person will have different use-cases, requirements, and goals.
Aww and who can bash that last one? Me. I can bash it. This is the equivalent of "Not financial advice, do your own research" Every site this person looks up is going to tell them that ETFs are safe.
Now, to be fair to r/bitcoin, most of the comments are saying no don't do it, but I still feel it hasn't been made clear enough why this is such a problem. I can already sense shouts crying "dogma" at the idea that an ETF isn't safe.
Here was my reply:
"This is the shit the happens when you celebrate ETFs, moon bois. People forget counter-party risk exists in ETFs and unironically think its safer than holding it yourself.
A single point to attack, a single point of failure for everyone's money, is easier than 1,000 points to attack.
Anaxander, the son of Eurycrates, when someone inquired why the Spartans did not amass money in the public treasury, said, 'So that those made the guardians of it may not become corrupt.'"