Why would governments want to prevent a new ATH? A higher price would certainly demotivate a good part of potential investors even more than is the case now, although I am thinking primarily of retail buyers. Yes, I know that we can buy a small piece of BTC for a few tens of dollars, but still, most people already consider BTC an extremely expensive investment. I think the new ATH is very certain by the end of the year, and it’s not at all impossible for it to happen this month either.
It is not within the reach of the impossible, but I think that the SEC has a very hard line on this and that it still believes that Bitcoin is not regulated enough to be traded in this way. Even without an ETF, it is hard to believe that the price will not reach the new ATH, because there has not been such an instrument all these years, and the result is clearly visible today.