This idea that the ETF is suddenly going to launch prices seems far fetched to me.  Is it positive and will it bring extra exposure?  Sure.  The ETF isn't large enough to have any real effect on trading prices though.  Not to mention I'm sure the bitcoins have already been purchased for the fund.  It's possible the fund could grow, but it would have to grow 100x for it to have a large influence on price.  The reason to get excited about the ETF is that you can now earn tax free gains on BTC by buying COIN in a ROTH IRA account.