I totally agree with mindrust. ETF approval would deform bitcoin into something completely opposite of what it's been created for, and soon take away the freedom it strives to bring. It'll become just another disposable gambling toy for banksters backed up by corrupted governments. I simply can't believe that some of you people are actually hoping that it happens.
People are happy because institutional capital will make sure the price eventually will reach levels beyond what people consider realistic at this point. If you ask people if they want to see the price reach $15,000 or $20,000 at some point, they obviously won't say no. But indeed, in worst case scenario Bitcoin will become a toy for institutions and whatever other big money entities. I personally don't have any problems with that, but I understand why others may not really like this. Either way, with or without ETF's - current holders will win big time.