It isn't surprising that they're reviewing it. They have incentives to - they'll appear open minded and they won't have as much effect on the price. Makes them appear more neutral and reasonable and gives them a chance to consider Bitcoin's recent price movements, its volatility and how they could regulate it.
The whole bitfinex saga will confirm to them that they were right to reject the ETF.
Remember the ETF's price would have been based on the weighted average of the major exchanges where trading took place, and shenaniggans where you suddenly can't withdraw fiat which means the btc price soars as people try to get coins out, proves their point about unregulated exchanges.
A BTC ETF will only get approved when the majority of trading is done on regulated exchanges like Gemini and GDAX.
