I would imagine that after the  next announcement to reject postpone  would not lead to to a mass sell off again.  Most people are realizing by now that we look rather into Q1 of 2019 when it comes to the ETF. As someone already pointed out, the odds are high it will be delayed further. I think we still might have a shoot that it gets approved, to meet investors demand and also to mitigate risks by being exposed to several markets,  not just one.