Recently I've heard some statements from the SEC's side that they are pointing they have no reason to stop the approval.
what it actually means
there is no ability anymore for SEC to just decline without reason anymore.. (the courts sorted that out due to the grayscale case,
however they can deny ETF that dont meet the criteria
That was nothing new from the 17th November's development,it was clear SEC has no issue with the spot ETF of the Bitcoin, and they are just looking for a good time why? even I'm not sure about it.
out of the 12 not all of them do. so some can be denied
the november 17th event was not a deadline to announce any approvals
it was a date of communication with some etf's applicants where the SEC gave some advice to some etf applicants about some obvious issues the SEC found