Regarding ETF's, I think it's really done and over for now. The SEC keeps rejecting ETF's for the exact same reason. Currently people are hyped up about the review the SEC granted to the rejected ETF's, which is quite pathetic honestly. Every party by default has the right to ask for a review, and in 99% of the cases they'll be granted one. Reviews can take years at worst. The Winklevoss ETF review took over a year, and that while the SEC already knew it wouldn't stand a chance.
SEC reject ETFs, that is true - but theirs process also includes a lot of delays which is not logical to me. If something is unacceptable on August 15, why should it be accepted on September 30, especially if the applicant is unable to make any changes?
I read about review, but somehow I do not think that's the reason for the current situation in the market. It is only 4 month left by the end of this year, maybe is time to bulls take control, or this is just one more attempt which will end with sudden drop in price to 6200$-6300$.