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

According to reports from Wu, VanEck, 21Shares, and Canary Capital have written to SEC Chairman Paul Atkins, urging the restoration of the 'first-come, first-served' approval mechanism. They criticized the SEC for not processing approvals for spot Bitcoin and Ethereum ETFs in the order of application, resulting in resources concentrating on large institutions and harming market fairness and competition.