VanEck warns SEC on Ether spot ETF: We applied first

VanEck, a US-based asset management firm, believes that the SEC’s collective decision-making mechanism is unfair. Company executive Matthew Sigel said in a statement, “We are the first to apply. It made sense before. It should again… We waited longer and our costs were higher than others.”

VanEck warns SEC on Ether spot ETF: We applied first

As the cryptocurrency world focuses on the U.S. Securities and Exchange Commission’s (SEC) decision today on the VanEck Ether spot ETF, VanEck believes it should take advantage of being “first out of the gate.”

“It used to mean something”

In an X space broadcast yesterday, Matthew Sigel, the company’s director of crypto research, criticized the SEC’s policy of not looking at who filed when, saying

“We were first to file and we expect to be first to respond to comments and first out the door. When you filed used to mean something, and it should again. It creates an uneven playing field for issuers who filed earlier and had to wait longer. Those who filed months ago had to keep their applications updated and compliant for a longer period, incurring more costs and legal fees compared to later filers,”

The SEC made a collective decision regarding the Bitcoin spot ETFs it accepted in January and approved the applications of all companies on January 10. The agency is expected to do the same today and make a collective approval or rejection decision.

Leave a Comment