• As per a Bitcoin historian, ETFs are in contrast to BTC’s ideology.
• Amid centralization concerns, ETFs continued to record high volumes.

Despite widespread acclaim, are exchange-traded funds (ETFs) genuinely advantageous for Bitcoin’s [BTC] future? This question looms large in the cryptocurrency community.

In a thought-provoking conversation hosted by Swan Bitcoin, Pete Rizzo, a Bitcoin historian, shed light on this debate. He remarked,

“It is very interesting to see that there is such community support for the ETFs given that they essentially, in many ways, kind of contradict a lot of the things that we have preached as Bitcoin maximalists.”

Rizzo also emphasized that the push for self-custody and direct participation in the Bitcoin network starkly contrasts the passive, intermediary-reliant nature of ETF investments.