Hopefully this ETF can have a good impact and can make the price of cryptocurrency increase in price so that it can get a lot of profit, so just follow the developments and good news from this ETF.
Or it can it impact us negatively. We haven't seen and ETF's approval yet, the only one we have is CBoE and CME bitcoin future contracts. And we all know what happen when institutional investors entered, long term effect is not good.
After the decline, the most common thing is increase. And bitcoin will reach a new peak after experiencing a long decline and very much makes the owners panic. Although it didn't happen last August, I hope that the peak increase in bitcoin will occur in November or December.
Of course when something goes down, it must comes up. But the market keeps struggling this year so we can't say if its going to bounce back November or December. So make adjustment on your trading and investing strategy. You don't need to panic, but understand and look for ways to make profit in this bear season.