Why would anyone be "excited" about this ETF when Bitcoin has dropped over 50% of it's value since the beginning of the year? Now if it becomes available around the same time that we break this losing streak, then things could get crazy quick, but right now it wouldn't be looking like a very good investment to anyone IMHO.
It's a good investment because it dropped over 50%, not the contrary, now bitcoin is undervalued and will recover fast.