Thanks! I understand that Wall Street needs approval to put it on their centralized exchanges so brokers and bankers can collect large fees. Still a derivative of BTC is already available on a decentralized exchange with minimal trading fees and all you need is an account name to open an account - people should be flocking to bitshares. The centralized exchanges are targets for hackers because everything is kept in one basket so it is a worthwhile effort. The decentralized exchange spreads the value over a large network so that a big score is not available to hackers.
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Oh for sure, I agree with that! I think that there's big slice of assets in the major capital markets that's kept out of cryptos because of regulations on major exchanges and major asset managers that an ETF addresses- for instance, a 55 year old nurse that parks her money at Ameriprise or Schwab with a Registered Investment Advisor. She would not have had their money going into Bitcoin without an ETF, but might now because that asset manager is now able to with a public traded ETF. But for more independent, self-directed folks I think we all know an ETF is not going to be the winning strategy on balance.
It does have a purpose for the uninformed.