The issuers of the Stock Exchange (ETF) Vaneck, 21shares and Canary Capital funds sent a letter to the American Securities and Exchange (SEC) commission urging a return to the principle of the “first-fichier” of approval of requests andF in the order in which they were submitted to the regulator.
Companies have argued only by not having respected the principle of the first fichier, the default process of approval of applications until the Cryptographic ETFs make their debut, the SEC reduces healthy competition and hinders financial innovation. The letter reads as follows:
“The reduced incentive for the development of pioneering products has broader implications. It reduces the choice of investors, compromises the efficiency of the market and fundamentally undermines the commission’s mission to protect investors, maintain fair, ordered and effective markets and facilitate capital training.”
“The continuous world leadership of the United States in financial innovation is deeply linked to regulatory executives who actively support and reward entrepreneurship, creativity and authentic innovation,” continues the letter.
Digital Asset ETF deposits accelerated following the inauguration of US President Donald Trump, while asset managers and Crypto companies rushed to obtain the approval of new investment vehicles in anticipation of a more user-friendly regulatory climate in the United States.
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Sec delays decisions on the clears, ETF Altcoin, as the applications are multiplying
Although the institutional interest in Altcoin and the ETF of jealousness continues to grow and that the deposits of the ETFs continue to multiply, the SEC has delayed its decision on several ETF Altcoin and Crypto.
In May, the regulator postponed its decision -making date on the registration of the Spot Solana (ground) Trust ETF spot in October.
SEC managers also delayed the approval of the ignition ETF and XRP (XRP) in May, a development that did not surprise the analysts.
“The SEC generally takes full time to respond to a 19B-4 file,” wrote Bloomberg ETF analyst, James Seyffart, in a post of May 20.
“Almost all of these deposits have final due dates in October. The first decisions are out of the norm,” wrote the analyst.
In addition, the SEC has recently responded to the effective FNB recording declarations marked by Rex-Osprey, which raises concerns that investment vehicles cannot be considered as ETFs due to the commercial structure of the underlying fund.
This has caused a delay in launching the FNB despite many analysts providing that effective registration instructions have reported imminent launch of these investment products.
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