Was to be expected, especially after Vaneck's withdrawal of their application. Looking at the market, there seems to be no reaction at all, which is a good thing because people need to stop focusing on ETFs.
I don't believe that we're even much closer than before with how the manipulation and wash trading concerns can't be solved from within the states. It gives the SEC enough reason to continue rejecting applications.
Another important factor is that an ETF might not turn out to be attracting a whole lot of demand, especially when the entry point is a few hundred k and institutions aren't interested to gain exposure through an ETF.
I don't believe that we're even much closer than before with how the manipulation and wash trading concerns can't be solved from within the states. It gives the SEC enough reason to continue rejecting applications.
Another important factor is that an ETF might not turn out to be attracting a whole lot of demand, especially when the entry point is a few hundred k and institutions aren't interested to gain exposure through an ETF.
This mean traders already accepted the fact that this ETF proposal will be rejected. It had been for how many year? What would be the difference it would make today.
The only thing that will persuade the SEC is if it can be proved that the bulk of trading happens in regulated exchanges that it trusts.
Indeed, unregulated exchanges, DEX'es, this surely hindered the ETF approval. Since SEC cannot verify the validity if the trade occured naturally.
Once there is a standard, then in theory the SEC could approve an ETF if more than say 66% of global bitcoin trading took place on exchanges regulated by the common standard, and hence they could trust the prices were not being manipulated.
But as long as exchanges like Binance exist, with their Tether shenanigans, an ETF is dead in the water.
But as long as exchanges like Binance exist, with their Tether shenanigans, an ETF is dead in the water.
This make sense Binance, had been shady and known to manipulate trades in their platform.
we don't even know if this ETF will really bring the price up and also help adoption for everyone. this is not going to be happening since this is supposedly a decentralized market, the crypto guys are building more dex. Bitwise and the twins can forget about their proposals. 
