IN CASE YOU DIDN’T READ IT: The SEC disapproved the ETF because “unidentifiable participants can influence the market”. If someone manipulates the broad Bitcoin market, the SEC requires that they be identifiable. THERE WILL NEVER BE AN SEC-APPROVED BITCOIN ETF. Get it out of your minds and move on.

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Bitcoin – The Currency of the Internet

Market cap of bitcoin compared to broad money (M2 money supply) of countries: bitcoin is now a larger force in market than fiat money of Cuba, Cyprus, Oman, or Bahrain. (reddit.com)

By November 23, 2016, the market capitalization of bitcoins in circulation was $ 11,908,463,816 (nearly 12 billion dollars), and the 24-hour transaction volume was equivalent to $ 224.9 M as per https://coinmarketcap.com/ Measured in terms of (M2) money supply, that meant that the total market cap of bitcoins was at that time actually a more significant force in the market than was the total money supply of Estonia, Costa Rica, or Iceland at that time…

Bitcoin