Bitcoin ETF, Is it really needed?

[Adrian]

Bitcoin ETF is currently in news as SEC recently rejected Winklevoss twin Bitcoin ETF and   fate of 9 others ETF will be decided in next 2 month .

Whatever the SEC decide on it in future will be interesting to follow.  It will be worth nothing that Bitcoin ETF will be treating Bitcoin as an asset not as a currency. As per fundamental of ETF , Bitcoin ETF will simply means that Bitcoin will be locked as an asset and ETF will be traded in exchange.
 
Why Bitcoin ETF should not make appeal to the Bitcoin community.

1. Treating currency as an asset to trade in exchange.
2. For ETF, Bitcoin need to kept  secured, means ETF will remove that amount of Bitcoin to be available for active transaction.
3. Bitcoin can be easily purchased and sold so it is not that Bitcoin ETF is making bitcoin more available to masses.
4. ETF do not gurantee that it will solve the Bitcoin price volatility problem.
5. ETF might give rise to "HODL" mentality that is not good for Bitcoin. (I will explain it sometime later.)

ETF will help Institutional Investors or other organization to invest in Bitcoin but Bitcoin is meant for P2P transaction and Satoshi did not created it to be used as Investment product.


Edit: Adding below the views of  Andreas Antonopoulos

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The main points from his video

1.When you own Bitcoin you own keys. You are in control of your Bitcoin. By ETF , you will not have any keys so you are not in control of your Bitcoin.

2.ETF owner/Custodian  will be a single holder of the Bitcoin. ETF holding so large amount of Bitcoin can easily manipulate the market.

3.If any debate going to happen in bitcoin (like Bitcoin cash ) in future then ETF custodian will have the voice but not the actual share holders.

4.Bitcoin ETF is a terrible idea but it might happen in future.

[Cold_Zero]

ETF is already in the minds of the people, they believe that ETF will change the fate of bitcoin this year and will dictate the price of bitcoin to break its ATH.
That is how the media affected our minds, they always emphasize that ETH is important for the market to grow and reach $1 trillion market.