Meltem Demirors raised an interesting take on Bitcoin ETFs 👀

She argues that spot $BTC ETFs haven’t really made Bitcoin more “useful” on their own, but have instead accelerated its absorption into traditional finance systems.

Rather than pushing Bitcoin further as a decentralized alternative, parts of the market are increasingly being integrated into Wall Street infrastructure through ETFs and institutional products.

At the same time, she points out something often overlooked:

In the Global South, Bitcoin and stablecoins are already serving real-world needs like savings, remittances, and cross-border payments long before major institutional adoption.

This creates a clear contrast:

One view treats BTC as a financial instrument.

The other still sees it as financial freedom.

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