No one knows when the ETF will be approved, but there are filings to that effect and the time to decide the fate for now is on the 10th of January. That is at least the last updated news I read about the ETF. Mind you, it is still subject to approval or rejection as the case may be and not the view of only approval as you think. It will disappoint a lot of crypto dealers if they reject it and the crypto market will be so negatively affected. But if it is approved, it will continue to help the market to appreciate as we see now. However, the chance of approving it is so high judging by the appeal court's verdict about it. Yet, the SEC still have the final say and I believe that it would be reasonably approved this time.

Come to think of it, if Crude oil, Gold and others could have the ETF, why not Bitcoin even if they will not approve other cryptocurrencies? I hope the SEC will consider it wiser this time and do the needful as this can't hurt in any form more than how it is already but is just a further advancement in the crypto space.