If the SEC approves do you think it will have a global impact on other financial regulators? Will this possibly pave the way for an explosion in bitcoin value? Please share your thoughts. Thanks!
Short answer is No.
When the declined the Winklevoss ETF last year they said that the reason was because most trades were happening on unregulated exchanges where prices were being manipulated. At the time the Chinese exchanges dominated.
The Chinese exchanges have gone, but the majority of trades still happen on place like BitMex, Bitfinex and so on.
The regulated exchanges like Coinbase and Gemini don't do that much business. Untill the regulated exchanges start dominating bitcoin trading, the SEC is going to keep denying permission for bitcoin ETFs.