Per
this article, it says it
could be approved by the end of 2014.
I would be very surprised if it does get approved, since Wall Street is pretty much big banks which are against decentralized currency.
Bitcoin EFT is for the masses without that technical barrier to entry required to purchase and safely keep BTC. If or when it does get approved, watch out for the wildest ride of your BTC life.
Wall Street is also full of young people that hold no allegiance to the banks. I wouldn't say every single person out there is conspiring against us.
Also, I thought I heard SecondMarket would come online sooner within a few months?