Wait a sec.  This makes little sense to me.
- Bitcoin doesn’t care who owns it.  
- People are allowed to use their property however they like, including opting out of janky, cumbersome, accident and hack-prone, highly-taxed custody solutions for ETFs behind tax advantaged wrappers.  
- Few of the first19.5 million of mined bitcoins are in ETFs.  What is the eventual ceiling for # of Bitcoins in ETFs?  Probably not that high.
- Bitcoin is global.  If the US Feds stole and parked Americans’ Bitcoin, prices everywhere else would skyrocket, including in enemy countries. How is that advancing US interests?
- If the US Feds sold Americans’ seized Bitcoin abroad, it puts them in foreign countries’ hands, some of them enemies.
- Bitcoin is now protected by Wall Street’s armies of lawyers and lobbyists who would fight such a seizure of property almost the way through SCOTUS.
- How does stealing Joe and Jane Sixpack’s retirement funds, including their target date retirement mutual funds,  earn politicians votes?  It does quite the opposite.