They don't care about people holding an ETF, they care about people using bitcoin as money. No one will be avoiding sanctions with their Blackrock Bitcoin ETF shares. They will be safely controlled by a fully compliant and regulated entity. No worries there. That's why Lizard Warren has her panties in a knot about self-custody. So you're right, gold and bitcoin ETFs are probably safe for the foreseeable future, because that's exactly what they want: everyone owning a derivative instead of the real thing. The fight is over self-sovereignty, and ETFs are a win for them in that respect.