It may by a means of a boost in market sentiment. But, will actually buying the ETF do anything? Doubtful.

I've explained this before. They need custodians for the ETF. I know Coinbase is one of them. I don't know if they have any others, yet. Haven't been keeping up with it all that much. Whatevs. But, even with Coinbase and whoever else as their custodian they won't be able to manage the vast majority of Bitcoins circulating supply. Therefore, they won't have any sort of dominance over it's price fluctuations. And keep in mind that there are plenty of imbeciles out there that are still buying off of Coinbase, so their supply will continue to deplete over time. There's also the matter of liquidity. Who will be constantly funding them to re-accumulate their bought BTC?

As for those who do buy the ETF, don't forget that Blackrock wants to charge a fee. What's the point of making fiat profit if the dollar keeps losing value. Lol. Anyone with a brain knows that the best option is to just buy Bitcoin, send it to cold storage, and hodl. Duhhh!