According to reports, ETF issuers VanEck, 21Shares, and Canary Capital have written to the U.S. SEC urging the restoration of the "first-come, first-served" principle, to approve ETF applications in the order they are submitted to the regulatory agency. These companies argue that the SEC has failed to adhere to the "first-come, first-served principle" (the default application approval process for encryption ETFs before listing), thereby undermining healthy competition and hindering financial innovation.
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NftCollectors
· 17h ago
From a historical perspective, the process of standardizing this financial innovation is indeed too familiar. Comparing it to the development trajectory of art trust funds in the mid-1970s, (AIT), there were also similar regulatory dilemmas at that time. But true value can never be blocked - just as Dadaism ultimately influenced the entire art process of the 20th century. The SEC needs to realize that the approval order of crypto ETFs is related to market fairness, which is akin to the value discovery mechanism of the Secondary Market for art. From an on-chain data perspective, the demand for crypto assets among institutions has reached a critical point, and the SEC's approval principles must keep pace with the times.
Multiple ETF issuers have written to the SEC requesting the restoration of the "first-come" principle for encryption ETF approvals.
According to reports, ETF issuers VanEck, 21Shares, and Canary Capital have written to the U.S. SEC urging the restoration of the "first-come, first-served" principle, to approve ETF applications in the order they are submitted to the regulatory agency. These companies argue that the SEC has failed to adhere to the "first-come, first-served principle" (the default application approval process for encryption ETFs before listing), thereby undermining healthy competition and hindering financial innovation.