It definitely contributues, but in the end, I strongly believe that even if you present the SEC a bullet proof ETF, they will still reject it because they might not want to contribute to even more power for Bitcoin. Don't forget that Bitcoin is a counter reflection of the regular economy; the more Bitcoin increases in value, the more the regular economy deflates.

In other words, I think there is much more that causes the SEC to reject these ETF's than just regulatory concerns. If you have the ability to allow Bitcoin to enter a trillion dollar market, or to prevent it from entering, you have to outweigh the pros and cons for yourself, and it's clear that there are only cons in this case. Bitcoin is rat poison as traditional gurus tend to refer to it, and I agree, it has the potential to undermine governments (the rats) with ease.