Quick TakeThe SEC’s approval of an ETF launch is contingent on three main requirements: derivatives with sufficient volume, access to regulated third-party custodians and measures against manipulationThe remaining concern seems to be the potential price manipulation on unregulated exchanges where most of the price discovery happensThe current market structure is unlikely to change anytime soon, which makes the prospects of a Bitcoin ETF quite slimThere have been a total of 26 Bitcoin ETFs so far with 12 of them denied and the rest withdrawn by the issuers themselves
