๐ท ๐ง๐ผ๐ฝ ๐๐ง๐ ๐๐ถ๐ฟ๐บ๐ ๐จ๐ฟ๐ด๐ฒ ๐ฆ๐๐: ๐๐ฝ๐ฝ๐ฟ๐ผ๐๐ฒ ๐๐ง๐๐ ๐ถ๐ป ๐ข๐ฟ๐ฑ๐ฒ๐ฟ ๐ง๐ต๐ฒ๐ ๐ช๐ฒ๐ฟ๐ฒ ๐๐ถ๐น๐ฒ๐ฑ
VanEck, 21Shares & Canary Say Skipping Line Hurts Fair Competition
โฌ ETF Giants Want Fair Play
VanEck, 21Shares, and Canary Capital have asked the SEC to bring back the โfirst-to-fileโ rule, which means approving ETF applications in the order theyโre submitted. This was the standard process before crypto ETFs began gaining traction.
โฌ Whatโs the Problem?
The firms argue that letting some applicants skip ahead:
โ Hurts innovation
โ Reduces investor choice
โ Slows down financial progress
โ Undermines fairness in markets
๐ข โIgnoring the order of filings sends the wrong message to innovators,โ they wrote in a joint letter to the SEC.
They believe the U.S. should reward companies that take early risks to build new products.
โฌ Trump-Era Optimism Boosted ETF Filings
After President Trump took office, crypto firms rushed to file new ETF proposals, hoping for a more friendly stance from regulators. But despite the wave of filings, the SEC has delayed decisions on multiple applications.
โฌ Staking & Altcoin ETFs Still in Limbo
The SEC recently:
โ Delayed a decision on Grayscaleโs Solana ETF until October
โ Postponed XRP and staking-related ETFs
โ Raised concerns about REX-Ospreyโs staking ETFs, delaying their launch despite earlier signs of progress
๐จ๏ธ Bloomberg analyst James Seyffart noted:
โThe SEC usually takes the full review periodโearly approvals are rare.โ
โฌ What It All Means
With so many crypto ETFs waiting for approval, issuers want the SEC to stick to a fair, transparent process that doesnโt punish the early movers. The ETF industry is watching closely, hoping for clearer, faster, and fairer decisions in the coming months.
