Can this be an indication of the end of the Cryptocurrency trade?
Lol. It is not the end of the world for cryptocurrencies as we know it since its just an ETF application or rather a proposal that was got rejected by SEC because they are the agency that has jurisdiction over it and I understand ETF is classified as a security and U.S. securities rules and regulations can be applied to it.
For now, its a temporary setback, but I don't think it will have any negative crypto market effects either because its just a financial instrument associated with Bitcoin's price and will not influence market sentiments since we have been experiencing this kinds of news before. So I guess only those Wall St. guys are the only ones excited over it and not with most members of the crypto-community!
Imho.Oops. I stand corrected! I should have used instead the term "ETF proposal" for clarity. And on the side note, just found this article https://www.coindesk.com/sec-rejects-7-bitcoin-etf-proposals that is somehow related to the topic but interestingly, it hadn't had much any effect on crypto markets not unlike when that lackluster launch of Bakkt Bitcoin futures recently where the market experienced some downtrend in crypto prices.