> Many also do not hold their own cash individually and entrust institutions.
Because literally the entire point of crypto is to not have to "entrust institution". Like the entire bitcoin protocol is built around the concept of trustlessness. If you're going to start "trusting institutions", you can do away with a huge part of the complexity (and gargantuan energy usage) of Bitcoin.
Bitcoin isn't directing companies to start ETF's, nor is it trusting institutions. It's just a protocol. Institutions came, bought Bitcoin and are selling it to investors.
I suppose if those institutions were worthy of trust then there wouldn't be such high demand for Bitcoin's gargantuan energy usage in the first place.
Because literally the entire point of crypto is to not have to "entrust institution". Like the entire bitcoin protocol is built around the concept of trustlessness. If you're going to start "trusting institutions", you can do away with a huge part of the complexity (and gargantuan energy usage) of Bitcoin.