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, requesting that approvals be granted in the order ETF applications 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 prior to the listing of encryption ETFs), thereby undermining healthy competition and hindering financial innovation.
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Multiple ETF issuers urge the SEC to restore the approval principle of prior application for Crypto Assets ETFs.
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, requesting that approvals be granted in the order ETF applications 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 prior to the listing of encryption ETFs), thereby undermining healthy competition and hindering financial innovation.