You're probably right, SEC will probably reject VanEck SolidX Bitcoin Trust application at the end, and there is no doubt that there will be new attempts in future who will strive for this goal. We can argue whether Bitcoin ETF would be good or bad for
BTC, it will probably be approved one day ,and the only difference is whether it will be
futures or physical-backed BTC ETF.
Regarding the VanEck SolidX Bitcoin Trust application, next date is December 29. 2018, and final date for decision is February 27. 2019.
Section 19(b)(2) of the Act [9] provides that after initiating disapproval proceedings, the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing of the proposed rule change. The Commission may extend the period for issuing an order approving or disapproving the proposed rule change, however, by not more than 60 days if the Commission determines that a longer period is appropriate and publishes reasons for such determination. The proposed rule change was published for notice and comment in the Federal Register on July 2, 2018. December 29, 2018, is 180 days from that date, and February 27, 2019 is 240 days from that date.
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Designation of a Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Shares of SolidX Bitcoin Shares Issued by the VanEck SolidX Bitcoin Trust 
