I wonder if the SEC can use (technical) reasons to block ETFs based on other chains and to potentially kick those in the long grass for a far longer period of time.
Most shitcoins are nowhere near as decentralised as BTC (or completely not) and there often doesn't even seem to be an issue cap built in the currency or it is completely vague (exactly like with Eth).
BINGO, you've just uncovered that there's Bitcoin and then, there's Shitcoin.
Well I would think they may have trouble blocking scrypt as it is a long established set of P.O.W. coins. There are very few algo's that might be allowed.