http://bravenewcoin.com/news/bitcoin-etf-may-attract-300-million-in-the-first-week-says-needham-and-company/The Winklevoss twins long-awaited ETF is pending approval from the Securities Exchange Commission (SEC). After years of delay and amended filings, a decision is scheduled for 11 March 2017, and marks the end of a final extension period.
Bogart analyzed the ETF as he feels that the listing of a bitcoin ETF, is a low probability event with very significant upside. Such a large upside, in fact, that it would greatly affect the price of the GBTC, which is based upon the price of one-tenth of a bitcoin plus a premium. The effect, Bogart believes, of any SEC-approved bitcoin ETF would have on the price of bitcoin, is vastly underappreciated.
However, the Bogart estimates the probability of the SEC approving the Winklevoss ETF in 2017 is, sub-25%. While there is no specific reason given for the estimate the report states, the confluence of fear, uncertainty and doubt coupled with basic incentives at the SEC will make it very difficult to get approval.