if japan did approve an ETF, i could see it influencing the SEC but probably over the course of several years. it wouldn't have an immediate effect.
I doubt it. Japan's ETF market hovers below $400 billion while the US ETF market is just shy of a being a $4 trillion market, which also explains why people are so desperately eager to see the VanEck ETF get an approval. There is no comparison. The SEC is in a league of its own, and it will ignore everything else till it thinks there is reason to allow an ETF to come through.
yeah, the two aren't worth comparing. i just think the SEC wants to see the global market mature and for regulated markets to gain more prominence over the next few years. a Japanese ETF could play a small role in that department, but i wouldn't put much emphasis on it either.