A Bitcoin ETF would be a watershed moment for crypto and BTC in particular as it would signal mainstream acceptance of crypto as an alternative asset class by the finance industry and result in a huge influx of institutional money into the crypto space. However for this to happen regulatory issues surrounding crypto would have to be resolved. In particular the "bun fight" between the various regulatory agencies regarding who actually regulates crypto would have to be definitively settled and IMHO I can't see this happening anytime soon.