Thanks for the repost of that, I think I'll not be catching up anytime soon.
Haha, i like this one.
So, basically, 95% of the Bitcoin market is fake volume and/or unregulated and therefore it is not possible to monitor the market for manipulation. Also, that 95% can't be separated from the real 5% in a reliable way that prevents the fake/unregulated/manipulated exchanges from affecting the price of the real exchanges and therefore, the ETF is denied.
Based on that, i don't see how it will ever be approved.
As soon as Goldmann Ballsacks decides to file for ETF it will be approved.