It will. However, things are still not settled when it comes to getting an approval, so a rejection might even turn out to have a short term negative impact on the market. It's obvious that the market nowadays gets bought up in advance of a certain happening, and current situation isn't anything different. Only time till tell whether or not we've already experienced the correction that people were waiting for, but there is no point into discarding the possibility of a test of the $5000 level in the coming weeks. As I said before, if there is no approval when it comes to CME's future market, this market can tank as easily as it came back up in the last two days - with the orderbooks being as thin as they are right now, it won't take any effort to make this market tank real hard.