I think its a huge mistake on their part. That had a chance to be 1st which could give them a key position in the market. Now they're too late and they've lost out on what was a big opportunity.

It could be inevitable that crypto futures and a crypto ETF will happen someday. Being first and getting a jump on the competition could make a huge difference.

Of course if bitcoin futures turns out to be a massive catastrophic event, like some are predicting, I'm going to be 100% wrong on all of this so we will have to see.