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Originally Posted by Musashi
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I don't think it has anything to do with owning the rights, it probably has more to do with the difficulty emulating it and Nintendo is notorious about putting as little effort into Virtual Console as possible. It could also be they chose to release the superior GBA version and since it sold well why bother with the inferior SNES version?
Of course nobody knows or understands the (non)logic Nintendo operates by. I wouldn't expect them to do this right, after all with NES mini they are sticking to using Wii components when it would be in their best interest to divorce themselves from the Wii branding as much as possible. With Miitomo app recently launching though I fear that is not on their radar at the moment.