It would be great to attract institutional investors to Bitcoin. Individual investors are better off investing directly due to lower fees and ability to withdraw without penalty, however, not everybody is willing to do all the necessary record keeping, passwords, etc. An ETF would simplify things quite a bit for people.
I think it's going to be great for those of us that are already directly invested, just need to hold on through the highs and the lows and take the long-term view on bitcoin and crypto in general. I expect that a bitcoin ETF would start out as a very small portion of the typical investor's portfolio, as I'm sure they view it as extremely risky. But, after a while, it will continue to grow even from there.
When you look back at the history of bitcoin, all of the ups and downs, it would have been difficult to hold on through all of that, even if you'd gotten in that early. Just like Amazon or Apple, there were some really good times before even better times came along...and some really bad times. To hold through all of that you'd either need to be very disciplined or simply pre-occupied with other aspects of life so you didn't keep checking the ticker every day. Kwai Chang Caine or the Big Lebowski...either would be an awesome crypto investor....buy and hold or buy and forget!!!
