Why so much speculation attached to a spot bitcoin ETF?

Ever given it a second thought why the crypto community have lately drift from building more utility in the crypto space and have gradually focused more on bitcoin exchange traded funds (ETF) is this all another new strategy to distract the developing community with a speculative shot term hype of an ETF? well an ETF have in the past been a driving force that sporadically increased bitcoin to attain a new all time high record of over 65k, will history always repeat itself? if we see another ETF approved, alternatively are the security exchange Commission (SEC) ready to see one rollout anytime in the future? Should the crypto community move on without an ETF and focus on more utility based features that will create demand for the crypto space? Well for now the hype will continue amidst regulatory clampdowns as well as the speculation will keep increasing until the hype gradually drift off with the first ever spot ETF unveiled.

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The hype for an ETF isn't cooling off anytime, there have been mounts of pressure on SEC to approve one which have all been a futile attempt from several high prolific assets investors like BlackRock, the race for an ETF isn't for the faint hearted while so much lately depends on regulatory teams to approve pending ETF files investors and institutional shareholders will be looking forward to when there will be an approved ETF which means there will more expectation attached to an ETF until we get one.

Why does every big institutional player need a bitcoin ETF? I guess from the link above I've pointed out some few reasons why so much is lately dependant on an ETF approval from big institutional companies while the SEC have remained resilient about cryptocurrencies not being a good investment source for U.S citizens citing it's high volatility and manipulative marketing nature we could be seeing more delays in bitcoin ETF approval from the financial regulators.

Grey area not yet

Speculations concerning chances of having an approved spot bitcoin ETF according to expert rose to over 80% which followed immediately a court ruling sided Grayscale to convert it bitcoin trust funds to a spot ETF.

Brace yourself as there is much to be done for Grayscale, it still have more filling to do with SEC, it seems the SEC still have the bull by the horn to approve any spot ETF, court siding Grayscale doesn't give them an automatic ETF approval but it only paved way and increased the odds of having an approved spot ETF in the future it has sparked optimism among crypto investors but a realistic question to be asked is? Are these all another speculative hype to increase buying pressure in all crypto related assets? Crypto market capitalization increased momentarily to the news all major altcoins saw a significant increase in trading volume.

But it all seem the hype was short lived as markets begins to reserve down losing it support, seem like just another quick market pump reacting to some speculative news of an ETF approval.

Why the much drip

The news of an ETF approval always spark crypto market, investors are filled with excitement whenever such news is announced despite it's fraught with regulatory hurdles investors have over the years showed excited whenever a potential ETF approval is announced, it positive impact in the market have always result to bitcoin price fluctuations which always increase it trading volume, an ETF has the potential to drive mass adoption into the crypto space by making cryptocurrencies more accessible to both retailers and investors, it will clear regulatory path for those looking for more clarity on how financial regulators and government treat cryptocurrencies as an investment tool, a more widespread of market integration which will open more financial opportunities for cryptocurrencies to be traded in various market with traditional market inclusive, overall we will have an influx of more institutional investors looking to tap into the crypto space this all depends on how fast regulators choose to approve pending ETF applications.

With so much speculation attached to an ETF approval there are benefits attached to it successful approval while there are no specific timeframe when one will be unveil the crypto community shouldn't neglect the potential which cryptocurrencies as a decentralized asset is here to give us while regulatory compliance is necessary all focus shouldn't be directed to an ETF to determine the fate of the entire crypto industry.