VanEck and 21Shares Advocate for SEC’s ‘First-To-File’ Rule for Crypto ETPs

Two major crypto ETF providers, Van Eck and 21Shares, are urging the SEC to reinstate a rule that prioritizes the first issuer of an ETF application. The firms believe this will create a more competitive market and drive innovation. They submitted a letter to the SEC arguing for the ‘first-to-file’ policy, which was previously used to guide ETP approvals. This move could significantly impact how crypto ETPs are created and managed.