It's happening. First they started with the bitcoin based ETF fund. And now they are filing for the Ethereum based fund. So now we would be regularly getting the market movements thanks to the centralized companies investing into the crypto. So technically 2 and 3 year cycles won't be that long anymore. And we would be getting the monthly or even quarterly cycles would happen with the crypto based funds. 

You can check out the SEC form D document on the web here. As you can go through the document you would get into the legalities of the SEC and how they are intended to build another fund into the market. That kind of shows their upcoming intent with the crypto. So after the Ethereum, you can expect possible token solana to be into this. 

New fund would be on the BUIDL token on ERC-20 with 100K USD minimum funding. This has made the Ethereum is now priced post 3K so things are definitely moving in the right direction. It would be interesting to see how the funds would be building from this point onwards. 

What did this would do to the blockchain world? You can expect the web3 startups going even more ahead. And this would mean the ethereum based projects, NFTs and the chains on the layer 2 would be going to grow as well. It may not be like bitcoin like price but expect a big and more vast universe to be developed on the Ethereum soon.