VanEck and others call on the SEC to restore the first-come, first-served mechanism to promote market fairness

According to reports, VanEck, 21Shares, and Canary Capital sent a letter to SEC Chairman Paul Atkins, calling for the restoration of the 'first-come, first-served' approval mechanism. They criticized the SEC for not processing the approval of spot Bitcoin and Ethereum ETFs in the order of application, which has led to resources concentrating among large institutions, harming market fairness and competition.