Haven't we learnt from the past? We are still doing panic selling which was witnessed as there were fuds created by some influencers about possible rejection of spot ETF
The real FUD comes from buying into the myth that institutional investors matter. Bitcoin functions just fine without them. It's only speculators who care about this.
It is possible that the SEC could reject every single one of the current applications. And it wouldn't matter in the slightest. Unless you're a speculator and the current price in fiat is important to you.