On the one hand, it gives retail investor another avenue of access to the crypto market, allowing them to invest through a tradfi instrument. This is important given investors not well-versed in crypto investing can find it difficult to access and invest in crypto assets. However, the bigger point here is that BTC's incorporation into an ETF goes against the founding principles of cryptocurrency. Its evolution is a consequence of advanced technology removing the 'middleman' in transactions, empowering individuals to make transactions free of bureaucratic institutions.
News is now emerging that the world's largest asset manager, Blackrock, is on track to becoming the biggest holder of BTC because of the ETF. Coupled with this the ongoing developments from state-entities to regulate crypto assets, the question now is whether the institutional embrace of BTC marks the beginning of the end for the coin, at least in its original form.
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