I don't think you should believe everything you read on Reddit, they're no experts that can give the final verdict regarding ETFs. If you were keeping a close track of bitcoins ETFs, then you would have noticed none of them qualified as per the existing rules, also they were not filed properly and a majority of them were not even known brands.

There'll definitely be an Sec approved etf, and therefore i'm keeping my fingers crossed for the Cboe etf, as I'm positive that it shall be cleared. Once it's cleared it'll lead the rally of bitcoins as that's the only legit etf out there.