I will like correct you on this bitcoin ETF rejection , it was not rejected but more further hearing will be open on 30th of September 2018. SEC is the process of checking security of Bitcoin .although banks are behind this delay. But we all know that the SEC can't fight the blockchain technology. They will definitely accept it, is just a matter of time.
I fully support your opinion. And anyway, we cannot depend on the SEC, it's just a fiction that makes us believe in a policy that is bought with the money.