Not excited at all.
ETFs are allowed by SEC so that the powers that be can sell something they don't have (bitcoin) by pledging something they have in unlimited amount through the $$$ printing press. By creating unlimited amounts of paper gold they controlled the price of gold. They'll attempt to do the same with bitcoin!
It's not ideal (futures backed with Bitcoin is beter) and it will be not that bad at all as it happend with gold because Bitcoin has a limited supply of coins plus the tech is in his early stage.