Yes while it may be true that anybody can buy crypto with their own money there are daily and weekly limits on purchases, certain bank restrictions, the risks involved with buying and holding crypto as well as a very steep learning curve to get invested.
Large financial institutions already have massive amounts of capital that is parked in other financial instruments. By allowing them to participate in crypto markets through custodial ETF accounts they will be limiting their risk and reducing the learning curve. From my experience older people have a hard time grasping the concepts in crypto and they may not trust any of the new technology over tried and true methods.
These restrictions are only if at all available thru branking regulation. Thus increasing the value of bitcoin itself.