I fully expect the etf approval might be a sell the news event but over time they will bring more capital to Bitcoin. Unlike the futures which are cash settled and can be perpetually rolled these products will need to buy spot and just like we saw a surge when the grayscale trust launched and they had to buy a ton of bitcoin creating a supply shortage, I think we will see a similar effect with the etfs.

I would prefer everyone just bought spot and self custodied and we all need to keep educating people on that but we are never going to convince everyone and it takes time. I finally convinced my former business partner to get a hardware wallet, sell some of his btcc etf, buy bitcoin and move it to self custody. He did it because I kept twisting his arm about it but he only converted about 20% of his holdings and acted like I was asking him to do vector calculus.