https://www.zerohedge.com/news/2018-07-27/i-dissent-why-one-sec-commissioner-thinks-bitcoin-etf-overdue
Interesting read about a SEC commissioner dissenting on the Bitcoin ETF decision. Suggests SEC is playing gatekeeper on innovation and trying to regulate the underlying asset of the ETF rather than just the ETF which is the extent of their mandate. Furthermore, the decision seems to set a precedent that may backfire because of how other commodity ETFs are structured and their underlying markets are manipulated. It sets a precedent that the SEC is now saying it has approved the underlying asset for those currently in the market and if/when a bitcoin ETF comes to the market, the approval of the ETF would mean essentially that the SEC is approving of Bitcoin.
Sounds like they just fucked themselves in the ass. By blocking one underlying asset, they're now responsible for all of the others! STUPID!!!