If the Spot ETF is denied, I'm certain that we'd seen a shaep drop in the value of Bitcoin. This wouldn't be the first time an ETF is denied for Bitcoin but this might have more negative impact because Bitcoin enthusiasm is high this time around and everyone is expecting it to be approved only to get hit by that shocking turn out of event? Price dropping is almost certain but it wouldn't be for long because the macro trend is hyper bullish with or without the spot ETF. I mean, Bitcoin's last ATH was achieved without ETF.
Institutional investors are overrated. US-centric emphasis is overrated. Wouldn't care in the slightest if the SEC rejected every single last one of them.
I don't too but I'd be happy if it was approved. It would give me more conviction about being on the winning team and of course, my investing thesis prior to ETF.