My thoughts are that the SEC will play the same BS game they played with the first round of derivative ETFs:

The first or two spot ETFs will get shot down for some BS reason. Headfake in the price, as per usual.

Then the first of the spot ETFs will get approved in December of this year, and/or as we round the corner into the first of next year.

All of them will get approval before the halving (Gee, what a shocker.  )

Bitcoin price will start to take off pre-halving.

Some completely bullshit, "The-sky-is-falling-and-Bitcoin-is-the-hedge-play" narrative will get spun up in the MSM to support all this. As per usual.