Exchange-traded funds (ETF) issuer Vaneck, 21Shares and Canary Capital sent a letter to the US Securities and Exchange Commission (SEC), which requested the return on the “first-to-frile” principle, which they were to approve the ETF applications in the order presented to the regulator.
Companies argued that the default process for approval for application approval until the Crypto ETF starts to follow the first-to-air theory, reduces the SEC healthy competition and obstructs financial innovation. Letter Reading,
“Leading products are wide implications of low encouragement for development. It reduces the choice of investors, compromises market efficiency, and fundamentally reduces the commission’s mission to protect investors, maintain fair, systematic and efficient markets and facilitate capital formation.”
“In financial innovation, the United States is constantly linked deeply to the global leadership regulatory structure which is actively supported and rewarded with entrepreneurship, creativity and real innovation,” the letter continues.
Digital asset ETF filing quick After the inauguration of US President Donald Trump, asset manager and crypto companies raced to get approval for new investment vehicles in anticipation of a friendly regulatory environment in the US.
Connected: To shape the crypto policy with ‘notice and comment’, Etkins says
SEC decides on stacking, multiplices as altcoin ETFS applications
Although institutional interest in altcoin and stacking ETF is increasing and ETF filing is increasing manifold, SEC has delayed its decision on many Altcoin and Crypto-STAKING ETF.
In May, regulatory Its decision postponed The deadline for listing of Grassscale’s spot Solana (Fifth note of musical scale) Trust ETF from October.
SEC officials too Delay in approval Steaking and XRP (XRP) ETF in May, a development that did not surprise analysts.
Bloomberg ETF analyst James Safart wrote on 20 May, “SEC usually takes full time to respond to the 19B -4 filing.” Post,
The analyst wrote, “Almost all of these filing have the last dates in October. Initial decisions are out of ideal.”
Additionally, SEC recently responded to the effective registration statement for the Rex -Sprey Staked ETF, which increased the concern that investment vehicle Could not qualify as ETF Due to the commercial structure of the underlying fund.
Many analysts delayed the ETF launch despite estimating that effective registration details Indicated launch indicated Among these investment products.
