Your insight nails it! Bitcoin ETFs might not make it a currency overnight, but they sure are sparking curiosity and that's a win.

Let me start with the question of the title, ETF is never bad, and as a matter of fact, it will give Bitcoin more relevance. However due to the way Bitcoin was created and its function and operation as well, the ETF may not be as important as people believe it to be compared to how it is so important with Crude oil, Gold etc.

Bitcoin is structured in a different way like never before and with or without ETF, Bitcoin will continue to gain popularity, and adoption and attract investors. The extensive benefits from the ETF, in the long run, will naturally be directing more investment into it. But this will only be in a way as those who are afraid to buy, hold and manage their Bitcoin themselves or are afraid about the privacy and decentralization of the asset, will join due to the ETF. It will help in this regard since the ETF will make Bitcoin to be more centralised even as the system itself is decentralised. This will also naturally means that the government can oversight the activity better than though it was moving within the core Bitcoin plans of non-custodial approach. This will help them cool their nerves as well.

I get your point, but do you believe people who buy BTC spot etf's are actually interested in BTC, i think it is the opposite, and they just want to invest in BTC without caring about its technology or basic things such as having a BTC wallet or backing up their seed phrase. BTC spot etf's is great for BTC price, but not so great for what it was originally created for.

i also think like that, even though bitcoin etfs don't have a significant impact on the bitcoin market, at least they can have a positive impact where there might be etf investors who are immediately interested in buying bitcoin because they are curious to try out how to buy bitcoin directly in their wallet. so this etf can be said to be considered a new form of promotion for bitcoin, even though it's not directly like that.

Actually Bitcoin ETF has got some benefits it's giving to cryptocurrency as a whole and this is something that were are not going to see taking place almost immediately, just maybe it may take sometime before it eventually comes to actually fulfilment because even after the ETF approval there will be need for some time for some others to looking in to adaptation thereafter but then Bitcoin becomes more acceptable and probably adoptable by many others by virtue if the ETF approval. This ETF approval isn't really going to give total control to the government but then there will be some form or local regulations because the Blockchain technology isn't such that you can gain absolute control over or further restrict.

In some regions there have been implications that have led to the bank of Bitcoin and some cases cryptocurrency at Large but then it still didn't give them the control or absolute regulatory power over Bitcoin and cryptocurrency in general.

I don't agree, BTC etf's do not give institutional investors any kind of control over BTC. I know there's been a large inflow through BTC etf's since its approval, and if we see a lot of outflows, the price will drop temporarily, but i would not call that control. Take note too that these guys are investors, so they are not going to be selling their coins only because they want to 'manipulate' the price and it is also unlikely that the outflows will happen all around the same time.

ETF's are not the start but yeah, they are not going to be the last. It's not only the regulation and adoption are going to add but new innovations too. ETF's in crypto are literally getting started because it's not long ever since they got implemented but despite of it, we already saw their effect and it was positive.

There are people who buy BTC via the ETF's thinking it is less risky but it is actually more risky than buying and holding on their own although maybe they are only lazy or they don't think they have the time to manage their BTC's/keys. Let's only hope that those people are soon going to change but they likely can, once they experience an issue or difficulty.

Initially,it creates room for exposure,setting aside the risks hat it possess.Its a center of attraction for investors to gain and regain acknowledgement without any complications or involved risks.
People that use ETFs for investment transactions always end up successful,renders a moderate impacts to your transactions to always increase distribution and reduce unnecessary mismanagement.

It'll drive us more under the control of the government, ETF are centralized so imagine how many Bitcoin they'll be hodling when new investors only buy Bitcoin throughout ETF, it'll make leaving Bitcoin with centralized platforms to become a thing again. With Bitcoin being held with the ETF, it might make regulation to be talked about more and since it will be mostly people in high places that'll be more interested in the ETF, they'll want to have the new industry that they'll be investing into to be regulated to prevent them from losing and protect their investment. The institutional investors are all in for the regulations and they will be the ones making use of ETF while regular investors like you and me will be making use of exchanges to get our Bitcoin.

On the positive side, it'll bring more exposure and more money to the industry which will affect all areas of the market and influencing the price of Bitcoin to new ATH. More institutional money will be coming into the market and that is a positive thing. After the ETF platforms get attacked, it'll draw attention to non constodial wallet so it isn't a total lost for decentralization because it might just be what we needed to get the industry back on track because we have been diverting from the original Idea of Bitcoin recently with the introduction of ETF and losing the idea of Bitcoin as a currency..