This is great news, Bitcoin ETF is no longer a matter of "if" or "if not", but a matter of "when", because it is very imminent that it will all be signed, though i dont have the clear details< but i think Blackrock is still waiting on the SEC to approve its bitcoin ETF, or give a date.
Personally, i  believe this all will be signed, though might not happen at a time when people expect, it might come like a thief in the night, at a time when everyone will be shocked and the effect of it on the price of bitcoin will be massive, i believe for now, SEC is still trying to load their bags with much bitcoins as possible before they approve the ETF  .

Anyways, @op, please include a source to your post, i believe you got this news from somewhere?, please share the source, i believe many of us will like to read more about this.

I have tried to find out if it's a physically settled ETF or not but couldn't find much information. Can anyone share more information about it?

Also it seems BlackRock is behind this. They are infamous for market manipulation. We need to be aware of this fact. They have started spending money in crypto market.

I hope there will be more in Europe there. But for America it looks like the SEC will delay the approval of spot Bitcoin ETFs there for an unspecified time. But the news circulating is that spot Bitcoin ETFs will indeed be approved, it's just that it hasn't been determined when that time will happen. But the good thing is that more institutions are looking at Bitcoin. I think the next bull market will be driven by more institutions getting involved in bitcoin investing. Gradually Bitcoin began to show its dominance in the digital financial world and in the global investment world.

I never liked ETFs and still don't understand why they can't acquire Bitcoin in the process which was created by satoshi, mine it or buy it from a market? Why do we need ETFs, isn't this just going against the fundamentals of the Bitcoin itself? Like it was meant to be disconnected from the current financial system and somehow people are busy making it part of that financial system. I don't get it.

I also don't like them, but maybe I can answer your question.
People who invest in bitcoin ETF are people who usually don't do anything themselves. In case of individuals, those are people who don't manage their own wealth, but have managers to do it for them. Have you seen the movie about Madoff? He'd call people and get them to wire money to his fund just like that.
-Hey man, there's an opportunity to make big money, but I need 10 million
-Sure, I'll send it to you later. What's the profit? 15%? Not bad.

These fund managers don't want to hold bitcoin for their clients and they know exchanges don't offer insurance, so they need a big fund to tell them it's safe to buy. If someone trusted were to offer trading and custodial services with insurance that the coins are going to be there a year later, they'd buy.
Another typical client of these ETFs are companies, where the board cannot simply say that the CEO will now hold 5% of the company's funds on his personal laptop. What if he dies? Who's going to have passwords? So the obvious route is to have a trusted third party to hold it for them. At least if things go wrong they'll have someone to blame and sue for the loss.

If ETF Europe will soon kick start then I believe that this is a good move from our European brothers because this will make the US look into approving ETF bitcoin by SEC easily but the problem is that when will the approval be done as everyone is folding their arms waiting to hear from SEC. SEC approval of ETF will help increase the mass adoption of bitcoin,which has always being everyone dream and it will help the bitcoin community as the price of bitcoin will increase and we can see our dream price of bitcoin not too long. It is left for bitcoiners to be in custody of their investment than putting it in the hands of a third party so that you control your keys yourself.

If you mean that they would get robbed, i doubt that ETF exchanges will even keep their bitcoins connected to exchange, so they would get sobbed in a same way that stock exchanges get robbed, and they are not getting robbed. I doubt that these exchanges would hold bitcoins at all. Or if they would, he level of regulatory oversight would be so harsh that it would be impractical for a normal person to try to deposit their bitcoins.

Of course BlackRock has already started spending money in the crypto market, they are seeking the SEC approval for a bitcoin spot ETF as well, they want to be ready before it gets approved, not after, because there is a good possibility that prices will go up quite a lot. They will already own a lot of bitcoin that their customer will be buying at a higher price, plus the commissions.

Hey OP, do you have an alternative source besides Coinmarketcap? I'm a bit skeptical about the credibility of this news. Surprisingly, Bitcoin remains unaffected despite the recent SpaceX FUD causing a substantial drop. I'm genuinely curious about the potential benefits of a Bitcoin ETF, especially in terms of allowing people to own actual Bitcoin rather than just contracts. Could it be a means to manage Bitcoin's price? Strangely, I haven't observed any major influence on Bitcoin from ETFs. The price spikes seem to be driven by FOMO more than anything else.

Yes, actually black rock gave SEC 240 days to give their final decision. We already know that SEC has no option but to accept BTC ETF if by now they have bring in reason why they prolong the acceptance of ETF