I consider them bitcoin holders but not necessarily bitcoiners. You lose many of key features of Bitcoin when you hold it in an etf wrapper. I am not against ETFs they were inevitable and just another layer on the Bitcoin stack. Until we can get getter options for holding Bitcoin in a retirement account they are probably a decent representation of that. They add liquidity to the market and expose it to new investors.

However, I do hope that some of the etf holders will now study and learn why they should convert most of their etf holdings to bitcoin and hold in self custody.