The Securities and Exchange Commission (SEC) has issued rejections to bitcoin exchange-traded fund (ETFs) proposals from ProShares, Direxion and GraniteShares.
https://www.coindesk.com/sec-rejects-7-bitcoin-etf-proposals/I think it is getting pretty apparant that the SEC has no intention of allowing any sort of Bitcoin ETF in the near future. It always struck me as the wrong approach for the development of cryptocurrencies. Putting a decentralised cryptocurrency that anyone can trade on a centralised exchange where it can only be bought through regulated intermediaries defeats the entire purpose of the blockchain. It seems to me that actually tokenising assets (like ETF's, Shares, Bonds etc.) and putting them on a blockchain where they can be traded is the future. That future is good news for Alts that can tokenise assets and bad news for Bitcoin which seems to hoping that ETF's will save them from their technological limitations.