It's terrible for Bitcoin by association. It's already difficult enough to separate Bitcoin from "crypto", and an Ethereum ETF makes that separation even more difficult in the minds of those who may hold both. When Ethereum tanks, not if, it will likely cause at least a partial liquidation of the Bitcoin ETF by association massively increasing volatility. 

DiedOnTitan

Terrible for whom? 

I'm not in favor (although I do hold some bitcoin ETF in my retirement account) and no one here would touch an ETH ETF with a 10 foot pole, but who's to say that it's not better than most of the zombie s&p 500 and that it could rightfully reallocate capital from them, and then when those companies finally eat dirt, new capital could be allocated towards something healthy & stable like bitcoin & its infrastructure? Baby steps forward and backward for mass market adoption should be expected at least.

_stacktoshi

bitcoin

My Not Fully Thought Out Speculation

siggy47

An ETH ETF would be a "jumping the shark" move. It's a PoS (both senses of the acronym), pre-mined, speculative shitcoin. And it's centralized under Vitalik Buterin.
What's next? Dogecoin ETF? A Bitcoin ETF is already unhealthy other than for glass handed NGU. An ETH ETF is a terrible move.