I think Gary Gensler and the four other commissioners can only answer this question correctly. The first final deadline will be on 10th January 2024, which is the Ark Investment Management application. The SEC can choose to approve or deny this approval citing more concerns. Which means that we have to wait for the consideration of other applications.

Currently, there are concerns that the SEC is insisting that these ETF providers should use cash to buy shares of the ETF instead of the preferred "in-kind" transactions. However, some ETF applicants are pressuring the SEC to allow them to offer both in-kind and cash redemption. There have been several meetings between the representatives of the SEC and these ETF applicants and several issues have been discussed which have necessitated most of these applicants to adjust the provisions of their applications. My advice is that you become less expectant because it can happen slower or faster than you expect.   

If it happens at the same time, then the price of Bitcoin will skyrocket. But I am certain that next year will be a good period for bitcoiners with or without the approval of ETF.