Bitcoin reached 20k last year without an ETF. All this hype and talk about the ETF is so overblown, cryptocurency doesn't need it , we are backed by the people.
But then it collapsed due to nothing, and it likely only kept rising due to manipulation, or at the very least all the FOMO from new investors.The market is fickle, but the ETF will at least temporarily cause some excitement and a flurry of new money coming in and that's what we could do with right now even if it's only short lived.