It may not make an immediate bullish difference with the price but of course, over time Spot ETFs being available will drive the price of Ethereum up. It opens the doors for institutional investment which is a totally new phenomenon for Ethereum. Large amounts of capital are now unlocked, able to flow into Ethereum, it can’t be anything other than positive.
Just like with Bitcoin where we don't see big jump in an instant, this will also be the scenario for ETH.
Though if there's a better hype for this ETF as we all know, ETH is the top altcoins and if many institution will support this progress then we can expect a big pump slowly but surely. A development like this is a positive in cryptomarket, and it's just a matter of time before other altcoins to have their own ETF update as well.