The delay is a good thing. That way, they will have time to further solidify their case and present it as a stronger one. But what the end result will be is still unpredictable. Let us be optimistic about it.
It's hard to be optimistic at this point though, as both of the Winklevii ETF proposals have been rejected. It's good that the SEC commissioner is pro ETF, but it is difficult to think that this delay is a good thing. If I recall, the initial Winklevoss ETF proposal was delayed several times before the SEC finally rejected it. most of these ETFs will be rejected.
Eventually though... There will be an ETF that is approved, and when there is, expect the pump of a lifetime IMO. This will likely happen by 2020 at least. Fact of the matter is, the Bitcoin market is plenty more regulated than what it was several years back. This regulation will increase (KYC for example) as time goes on as well. The SEC will soon no longer be able to use the "lack of regulation" excuse. Starting to think they are afraid of Bitcoin because its a sign of decentralization taking hold.
