Really clear framing on the exposure vs ownership distinction. The tax-advantaged account angle for ETFs is understated, most folks dunno how much friction that removes for traditonal investors. But the zero mobility piece is the real tradeoff, once BTC is locked into that ETF structure it becomes just another financalized asset with none of teh utility that makes crypto intresting in the first place.
Really clear framing on the exposure vs ownership distinction. The tax-advantaged account angle for ETFs is understated, most folks dunno how much friction that removes for traditonal investors. But the zero mobility piece is the real tradeoff, once BTC is locked into that ETF structure it becomes just another financalized asset with none of teh utility that makes crypto intresting in the first place.
High time for a deep thinking on this before committing to long term strategy.