ETF is still in the process for either it will be approved or not, what ever the result for their discussions we don't have nothing to do is to accept it.
I'd never think that ETF's approval create another drama and I'll do positive that it will help to bring market flown again and sustain its potentiality.
I seriously did not understand the core substance what you are trying to say here other than the market might create another drama if ETF is approved, if you are not aware of it, the drama of ETF approvals are going on for a long time and there was a time when the market used to move higher just because we are having a hearing from the SEC about the approval, but now the market does not care about any of those, we will have the ETF approved at a later time but do not expect that anytime soon.