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?
It's a form of hypocrisy. As per Hester Peirce, which is an SEC commissioner, it is far easier and less problematic for the SEC to keep rejecting and delaying ETF's, even when they don't stand a chance to be approved after the delay (regardless of the changes made to the initial proposal).
Another aspect, which is my personal opinion, is that I strongly believe the SEC is testing how this market reacts whenever they reject or delay an ETF. It's like they are solely delaying ETF's for that purpose, because let's be honest, there is no valid reason to delay an ETF when it by default doesn't stand one single chance to be approved.
There is some sense in it, but then obviously there are some other higher interests involved in all this. I doubt that SEC does something on his own regarding this refusals/postponements or reviews. Whoever is in this game for some time know that market is reacts on almost every news, the only question is how much the media engage in something and make great news of it.
For me is strange fact that only
BTC ETFs are coming from USA, as if the rest of the world waiting for they approval to do something in this matter.