I wouldn't get too hyped about this news to be honest. It's obviously not bad news considering the fact that it allows investors to get an investment into bitcoin in a tax effective way, but it's most likely not going to benefit any average bitcoin users, nor is it going to be even anything related to actual bitcoins stored on chain tbh.
It does concern actual Bitcoins.
Even if the demand is on the lower side, it's better than nothing. Everything that might help to reduce the availability of coin supply is a plus in my book, and remember, this only concerns one country.
In the coming years more countries will follow and offer people the same options, and the US might not even be that far behind when it comes to their 401k. Imagine what happens if it takes off based on solid demand.
I'm extremely bullish on Bitcoin and will continue to accumulate more. The lower the price sinks the more coins the same amount of fiat will allow me to buy, so bring it on bear market!