Back in March, everyone thought the BTC market would enter a bear market if the Winkelvoss ETF was rejected.
Well, it was rejected and the market did 'crash' for a day or two, but then it recovered and BTC went from $1000 to $5000 over the next few months.
Anytime crypto is battle tested and comes through with flying colors, faith in crypto is strengthened further and people feel more confident investing.
They are reviewing the ETF once again. And this time there is a small chance that it may get approved. If GBTC can be approved, then what is wrong in permitting the Winklewii ETF? And have you checked the recent charts of GBTC? It is up by 25% today, and is trading at a premium of almost 80%. This is what happens when the SEC refuses to act rationally.
http://quotes.wsj.com/GBTC