James Lavish does an excellent job explaining this whole ETF thing. In particular, he explains the difference between the already existing futures ETFs and the likely spot ETFs.
Although he thankfully doesn't get into a price prediction, he clarifies that bitcoin MUST be owned by spot ETFs, and he also points out the large sums of money ready to enter these vehicles if the SEC gives its approval.
Like always, I count on Lavish to give an informed, accurate analysis of the issue.