I'd also say no. Approvals are usually bullish for price until product launch date, while the launches themselves have always been bearish.
Well, other than the GLD ETF approval of course.
How analogous last millennia's hard store of value money is to this improved hard store of value money -- and thereby the associated ETFs -- might be a matter of discussion.
I don’t think the ETF approval will be a case of buy the rumor sell the news. The ETF approvals will open the floodgates for new investors and allow funds that may have otherwise not been able to buy BTC to get involved. While there may be some profit taking by traders initially, an ETF approval is a pretty bullish thing that will likely propel the market for a period of years, not days.