The recent involvement of different national governments in crypto investments will not just bring development to the crypto space but will as well increase the societal value of crypto. Before now, there's been big investors who had serious doubts in investing their fortunes in crypto but are reluctant since they're not convinced enough but the recent developments will likely convince them of the importance of crypto. These recent happenings might not have instant positive impact but with time, it'll sure have a huge impact especially in price surge
Some people actually do trust and have studied bitcoin and confirm that it's worth their investment, but anything that's not supported by the government, they consider to be very risky and don't want to get involved in it as they believe government policy can affect their investment, which is why some investors waited till the approval of ETF before they took the step of buying through ETF even as they don't hold custody of the coin; as long as they can count profit on their portfolio, they are okay with that.