I think that we will never see the approval of Bitcoin futures trading, most likely it was just market manipulation.
Candidly speaking the whales manipulation landed us here but that's a good one. SEC may not approve Bitcoin ETF but that's just by the way because as for now the ETF approval can cause a major rise in the market. Many are they that wait for the slightest opportunity to act in the market bullish run which we hope ETF will provide.