I agree with your point of view. I think the impact that Bitcoin ETFs will have on the market will be very different compared to the one we had with futures a few months ago.

Bitcoin futures are merely speculation and there is no direct connection with the underlying asset. For ETFs, especially the physically backed ones, will be different. Usually, in traditional markets, they are not seen as speculation, but as a form of investment. The presence of ETFs on the market will help a lot to spread the word of bitcoin to the masses, in my opinion. And hopefully, they will push the price up again.