ETF Issuers Pen Letter Urging SEC Return to ‘First-to-File’ Approvals

ETF issuers pen letter urging SEC return to ‘first-to-file’ approvals

ETF issuers say abandoning the long-held first-to-file method stifles innovation and rewards lazy behavior on the part of filers. ...

ETF issuers’ latest warning – SEC’s approval process ‘kills innovation, aids giants’

Will Trump’s influence tip the scales on pending ETF approvals?

ETF Issuers Push SEC to Restore First-to-File Approval System

ETF issuers say the SEC approval process now favors big firms and hurts smaller competitors. Approving all ETF applications together reduces innovation and limits investor product choices. Issuers want the SEC to return to the first to file method to ensure a fair market for all players. Exchange-traded fund issuers are challenging the U.S. Securities and Exchange Commission’s current method of approving ETF applications. Canary Capital, 21Share…

VanEck, 21Shares, Canary Demand that SEC follow the ‘First-to-File’ Rule to approve ETF - CoinCodeCap

Key Takeaways The companies argued that by failing to abide by the first-to-file principle,the SEC had diminished healthy competition and hindered financial innovation. The letter argued that the shift in process “incentivizes replication rather than original innovation.”  Three leading asset managers, VanEck, 21Shares, and Canary Capital, have written a letter to the United States Securities and Exchange Commission (SEC), asking the regulatory…

ETF Issuers Demand SEC Revert to 'First-to-File' Rules in Urgent Letter

In an intriguing turn within the U.S. cryptocurrency regulation landscape, a group of exchange-traded fund (ETF) issuers has reportedly approached the Securities and Exchange Commission (SEC), urging a revisit to the regulatory approach toward ETF proposals. Their plea emphasizes a return to the historical “first-file” principle in approving Bitcoin ETFs, a development that could potentially reshape the market dynamics for Bitcoin and other cryp…

VanEck, 21Shares, and Canary Call on SEC for Fairer ETF Approval Process

The letter, made public by Bloomberg analyst James Seyffart, raises concerns over changes in the SEC’s ETF review procedures. VanEck, 21Shares, and Canary argue the agency has recently shifted away from this approach—putting smaller or newer firms at a competitive disadvantage. The letter specifically calls out the growing risk of market consolidation, where dominant players could monopolize early ETF market share, leaving limited room for compe…