It seems analysts don't think it will pass, but investors do.
I've been reading about it for a while now and about ETF's in general and nothing I've read has explained exactly why the SEC would not approve it.
Why wouldn't it pass?
I think it will get passed and i think that the market thinks so also, which is why we have seen an increase in the price. one argument that i have heard for them possibly not agreeing it is the size of the market cap is to small. but i have also seen the counter argument that there are other ETF's that have a smaller market cap now. I have heard arguments both for and against it being approved and how good it will ultimately be for bitcoin in the long run.