I bet Direxion will win the first approval. They're not just some standard investment trust that funnels money into the coin and pockets a healthy commission for themselves. The Direxion ones are good for short term momentum bets. 2X bull/bear will get you double the returns on a movement in either direction. That's the kind of thing that retail investors are looking for without having to worry about wallets, keys, blockchain, and all those worrying things that come with bitcoin. And then Buffet can short it all he wants without having to open up a wallet.