This is a horrible news, I don't know how anyone would think that this is any good for BTC. BTC is a currency and should be treated as one, recognize BTC as a commodity and make other people starting recognize it as a commodity too is the first step to beat the idea stands behind BTC in the first place. The next step will be if BTC is a commodity then it can't stand at the same bar as Fiat and by default, since BTC is not a currency then it should be taken down as the main Pair in trading a lot of steps will follow in the same direction. In my opinion, this is the first step to kill BTC and Satoshi's vision and what's more depressing is to see some people thinking that this is a good step.
Because most people are here to make money on the short term and don't eventually care if Bitcoin can actually be used as a method of payment.
Just check at the ETF and everything it implies: for sure the ETF will make Bitcoin price pump and that's what most people are waiting for, even the ETF principle is against the original mindset of Bitcoin, for obvious reasons (see Andreas Antonopoulos's opinion about it for instance).
Sad, yes. But sometimes I wonder if the original idea of Satoshi was pure utopia, but eventually impossible to implement in the real world.
