VanEck and three other institutions wrote to the SEC, calling for the restoration of the ETF "first come, first reviewed" mechanism

Wu said that he learned that VanEck, 21Shares and Canary Capital wrote to SEC Chairman Paul Atkins, calling for the restoration of the "first come, first reviewed" approval mechanism, criticizing the SEC for not processing applications in the order of application in the approval of spot Bitcoin and Ethereum ETFs, resulting in the concentration of resources in large institutions and damaging market fairness and competition.