I do think Bitcoin ETFs are giving more price stability to the Bitcoin. Bitcoin also gets more exposure as many institutional investors showed off their bitcoin adoption, and spot ETF made them should have backed it with real coin.

ETFs adoption may be also attracting interest from people to reserve some portion from their 401k or IRA to the Bitcoin.

Stability is clearly seen, there is a strong push since the approval of ETF which has succeeded in making market sentiment respond quite quickly. But it is also not free from manipulation because the more retail is attracted to release ownership to whales, the more opportunities for manipulation they can use as a weapon.

It can be both.

Right now it lead the price more stable because there are people who like to own Bitcoin in ETF/fake version.

But, once centralized institutions own a lot Bitcoin, they can do whatever they want, manipulation is unavoidable.

My take is, the manipulation effect would be higher than the adoption, so better to not have the ETF version.

It can be effect from Bitcoin Spot ETFs and also bigger Bitcoin market cap.

Naturally with bigger market cap, it will be harder to manipulate the market, and we are going to see it with Bitcoin market. With Bitcoin Spot ETFs, there are new mass purchasing demand that plays important role to support Bitcoin price.

It shows in Bitcoin: Bull market correction drawdowns that are clearly less severe but are smaller than previous market cycles.

stability=manipulation

bitcoin is naturally volatile.. when its stable then that is manipulation

for instance..
bitcoin mining can cost anything from $60k-$350k right now depending on region of planet
so there are many mining and making profit by selling.. and many who dont mine but are market buying as the discount compared to mining is immense
the price can and should swing widely

so the prices should naturally be wild.. yet when you see flat prices for days-weeks it means it is being manipulated to stay in a price zone

I think bitcoin etfs could introduce both scalability and new risks. With more institutional investors, we might see less extreme volatility as liquidity improves. However, institutions also have the power to manipulate prices through coordinated trades. It really depends on how regulations evolve and how retail investors react to these new financial products. I'll be watching closely to see it etfs actually help bitcoin adoption or just become another tool for big players to control the market.

etf is celebrated because everyone knows that it will bring huge exposure to bitcoin and therefore would lead to higher price increases i don’t really recommend buying bitcoin through etf but it does give other people the option and now more people are wanting to buy bitcoin
i guess since etf companies would be holding huge amounts of bitcoin they may be able to do some manipulation

We all should agree that bitcoin is unpredictable and as such, anything can happen during the shortrun and longrun as well. The obvious fact is that bitcoin ETFs would definitely have some impacts on bitcoin's price, it could be short term stability and an increased manipulation in the longrun.

I said Short term stability because, Bitcoin ETF is another indirect way people can invest in bitcoin without have to deal with bitcoin directly. Since they would be dealing with traditional institutions directly, that direct effect this form of investment is supposed to have on bitcoin's demand and supply would reduce, thereby making bitcoin's price somehow stable, but for a short while because bitcoin is designed to be volatile.

But on the other hand, the manipulation may exist more among the institutional investors who have a significant control over large ETF holdings.  Major sell-off or buying by this investors will impact the market greatly. So it is a two way thing, therefore we should expect any in an unpredictable market like bitcoin's market.

It will, it surely does. Once more ETFs happen to come, and these companies acquire more Bitcoin in their stash, then yes, that's the possible scenario. The more ETFs, the more it will increase these institutional investments, this also means greater market stability, so yes, ETF do more good than harm in Bitcoin.

I think there's no question it should help with price stability. A lot of clients I speak with really want bitcoin in their 401ks, which will never happen (outside of an attached brokerage account, which many plans do not allow for).  So there area lot of people opening up IRAs simply to own bitcoin and they aren't doing a ton of trading of these ETFs, many people are simply buying it to hodl.  So I expect that trend to continue.