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Better than shitcoin casinos because Coinbase basically incentivizes anyone new to start trading shitcoins.
If Coinbase is the first interaction a new coiner has they will likely “diversify” into shitcoins at some point.
If an etf is the first interaction a new coiner will start with it as 1-5% of their portfolio, see it grow as a % overtime. And may decide to learn more about bitcoin via podcasts or books.
ETF investors won’t rotate into shitcoins as easily as a first time Coinbase user
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Fair point. I hadn't considered that.
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Why do you think it is way better than shitcoin casinos?
I don't think etfs will ever allow you to exit to a utxo. So at best you have a legal claim on the bitcoin that the fund owns. Probably though all you have is a "share" of the fund which is worth in dollars whatever proportional amount it represents of the fund.
I accept your point about institutions and hnw people.