I think Bitcoin ETF sits on a 50/50 chance to be approved yet but there's still a glimpse of light shining as one of the Commissioner Hester Peirce in favor of it, in a sense that she likes to open on US an nnovation approach that could contribute to greater development.
The new member of the commissioner dissent the decision of rejection of Winklevoss Bitcoin ETF with a 3 to 1 vote, stating that the rejection isnt fair and over jurisdiction since they only looked on the possible outcome that price will be manipulated.
Quoted from Her interviewed “I think we have an important role to play telling the United States and the world that our capital markets are open to innovation,” said Peirce. “And that’s what sort of drove my dissent last week and what really drove me to come back to the agency as a commissioner. ”
There's no timeline when the voting will commence and not sure if its on the middle of 2018 maybe early 2019.
Full report can be seen here for your info.
source:
https://bitcoinist.com/no-reason-bitcoin-etf-sec-commissioner/Its really good to have a positive note of choice and I wish the team member would correct their wrong in the coming ETFs that is about to happen. While we are happy about this, there is a germane point that is raised here which is on the issue of price manipulation that other members of the committee are using as an excuse to have a dissenting voice. If ETFs applicants are not going to address this issue even as market participants are always quick to blame the whales in times of increase in price and dumping in times of drop in price, the decision of the committee might still remain the same because they would not want to soil their names by setting a bad precedent that if subjected to review, could tarnish the reputations that they have built since the beginning of their career.
This is more of a call to all stakeholders media, service providers, licencors and traders to start with the launching of campaigns to correct the impression of price manipulation because for this news to come out is showing there is a weakness to be worked upon in which if successful, everyone will be better for it eventually.