With the few bulls still standing the ETF was basically their only hope of a recovery. Now that the ETF has been rejected again we can expect a long term serious bear market to continue exactly as i predicted.
What was rejected was the twins ETF proposal and not the VanEck/SolidX which is due sometime in August. The difference is that VanEck/SolidX is what we all have been waiting for because it has reported that it got more than 97% positive comments.