Just read an article in reddit.com.It says that the SEC has not approved ETF as it thinks that unidentifiable people could influence the market.If such manipulation occurs,SEC wishes them to be identified.
So will there never be an SEC approved bitcoin ETF?
In fact, the SEC is right on the one hand. many people have a great opportunity to manipulate the price of bitcoin. However, on the other hand, the SEC intends to use these manipulations themselves, but they will not be physically allowed to do it.