But are we really that excited of the prospect of this getting approved or has this become just another routine and a boring one? And in the first place, do we really need an ETF?
The SEC have perfectly reasonable doubts about the market itself that no application can ever address. It's an objection that goes to the entire foundations of how the market rolls.
In future there should be less overtly crooked or amateurish operations. There may also be some proper decentralised exchanges which would probably turn the SEC off even more.
No one and nothing needs an ETF. It might be a neat bonus but I don't think it'll ever happen.
They will always try to submit bitcoin ETF proposals even it was and will be rejected again. Since there are many proposals now and several denials, ETF becomes a common thing in the market, no more hype unless one is accepted.
Yeah, we know bitcoin ETF has no chance of being accepted as long as the bitcoin market capitalization is still relatively small and prone to be manipulated.