The sheer convenience of exposure to Bitcoin via an etf may detract from the ‘ideal’ p2p way of using it.

Perhaps Bitcoin will be neutralised/weakened via the etfs the way gold was even if there is an initial positive impact on the fiat price.

I’ve seen chatter that Fink and friends may attempt a hard fork once they have acquired a large holding - see this article (even though Guy Swann has analysed and debunked it):