Aside from the share size, none of the concerns brought up in rejecting the Winklevoss ETF have changed. How would the share size impact the SEC's decision in this regard?

A good point made on /r/bitcoin was that the SEC has access to the DOJ, even if through unofficial channels. The price manipulation inquiries have yet to be resolved. If the SEC gives the go ahead, and the DOJ inquiry results in negative price action, those who invested in the ETF, which likely includes institutional investors, take it square in the mouth after assuming all was safe due to the SEC action.