Another important fact about the hype in December when Bitcoin futures were launched was that the market thought that the ETFs would be approved shortly after. In fact, about a dozen ETFs were files the week futures started to trade. However, the SEC quicly denied one stating that additional requirements would be required as the uncertainty of performance and other factors like volatility were not consider d viable for the asset class. This deflated a lot of interest in the market; in particular for institutional investors and other anxiously waiting to add capital into the space.