I live in Europe. I don't have a fund manager and I have invested in stocks on a low cost trading platform. Now I also have an account on Coinbase, which is an entirely different beast- different security, different responsibilities. It feels much more like owning physical goods than investing.
There is a friction that would undoubtedly be solved by bitcoin ETFs. There's hundred of millions of causal investors who prefer to simply treat btc as any other stock and don't want to bother with actual ownership of the asset in any form and don't want to have to deal with anything different from normal stocks.
And lowering friction increases usage.
If you’re in EU, why do you need to wait on a US ETF? There is already a spot Bitcoin ETF on Euronext, BCOIN. (Not rhetorical! I am curious about the mechanics of this)
And, further, the US ETFs, should they be authorised, almost certainly won't be available to EU retail traders, as the companies involved are highly unlikely to makes them UCITS compliant (for the likes of Blackrock and Vanguard, the general approach is to make separate non-UCITS and UCITS funds for the US and EU respectively).
It's possible to do it now, but not easy.