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RE: "These aren't the ETFs you're looking for"
I have to believe it's only a matter of time before there's a BTC ETF... after which it will only be a matter of time before there are more, followed by some of the larger coins out there.
For the time being, though, it seems like we live in the land of "As goes BTC, so goes the rest of the market."
I agree. There really isn't a need for many of the other coins out there currently though. If they are going to exist at all they probably are way over-valued currently, though bitcoin is probably way undervalued if it lives up to its potential.