It's not hard to get the money out but there are taxes and penalties so it may not make financial sense. The beauty of Bitcoin is it can exist outside this system and that may make the cost worth it.

This is the correct take. Every single person on this forum knows that holding their own keys is preferable to the ETF. But most of us have capital that cannot be used to purchase BTC directly (pensions, tax sheltered accounts, blah blah). So what do you do with that capital?

Fact is that I'd waaaaaay prefer to hold one of the ETFs than anything else in trad-fi.