Not conspiracy theorist, just asking for opinions

The whole purpose of 21 million BTC was that no more would ever be produced. As the demand grew the increased inflows would result in an increased price. However if part of those inflows don't head towards BTC itself but rather an ETF, then what's the point?

Is there a way to figure out that the ETF-providers actually hold the BTC they claim or are ETF-buyers just buying on thin air hoping that the SEC does it's job. Have we just given those people another way to to control, not only the price but also the "quantity" of BTC out there? 🤔