VanEck, 21Shares, and Canary urge the U.S. SEC to reintroduce 'first to file, first to approve' principle
JH Kim
Summary
- VanEck, 21Shares, and Canary Capital have requested that the U.S. SEC reinstate the 'first to file, first to approve' principle in the review process for exchange-traded funds (ETFs).
- They stated that the 'first to file, first to approve' principle was used prior to the introduction of spot Bitcoin (BTC) and Ethereum (ETH) ETFs.
- They explained that this change in review process could affect the order of ETF approvals and market launches going forward.
On the 6th (local time), Bloomberg analyst James Seyffart announced via X (formerly Twitter) that VanEck, 21Shares, and Canary Capital have requested that the U.S. Securities and Exchange Commission (SEC) reinstate the 'first to file, first to approve' principle in the review process for exchange-traded funds (ETFs).
This principle was used before the introduction of spot Bitcoin (BTC) and Ethereum (ETH) ETFs.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.![[Market] Bitcoin breaks below $68,000 as losses deepen](https://media.bloomingbit.io/PROD/news/3a08fe32-6a33-4a62-bb89-4afb5c5399ca.webp?w=250)
![[Market] Bitcoin breaks below $70,000… Korea premium at 0.31%](https://media.bloomingbit.io/PROD/news/74018332-717e-4495-9965-328fe6f56cb4.webp?w=250)
