ETFs are just...
Easier means of confiscation. Nothing more.
They will encourage everyone to use them as a superior investment. They will inflate Bitcoin's price to drive people to these crappy-crash products. They will scare everyone into thinking self-custody is for criminals. However when this debt ponzi rolls over, and it will... they will rug-pull everyone so hard. Every ETF, every stock, every house with mortgage debt will be owned by the State. If you ever get "paid out", it will be in ever more shitty CBDC currency, with conditions attached to it.
It's all written in these SN posts of The Great Taking:
Easier means of confiscation.
Nothing more.