On Friday, the SEC issued a decision to reject the Winklevoss’ petition to form a Bitcoin ETF. Since the beginning of the year, Bitcoin has remained constant over $1k/coin and in recent weeks hovering around $1.2k/coin. The goal of the ETF was to make access to the new currency in the regular market. Bitcoin brings a potential promise of large returns within a short period of time due to its increasing popularity.
The SEC denied the request due to the lack of regulation and oversight capabilities by an outside body. Bitcoin was mainly created to avoid these types of centralizations. Unless the SEC will update their requirements, it looks unlikely to see a Bitcoin ETF in the near future.
Reference: https://www.forbes.com/sites/laurashin/2017/03/10/sec-rejects-winklevoss-bitcoin-etf-sending-price-tumbling