VanEck and multiple financial institutions have formally petitioned the U.S. Securities and Exchange Commission (SEC) to implement a sequential ‘first-in, first-out’ protocol for reviewing pending Ethereum exchange-traded fund (ETF) applications.
The proposal demands that applications be processed in strict submission order rather than through simultaneous batch approvals, arguing this system is essential for maintaining fairness across all applicants. It specifically aims to prevent perceived advantages for major firms like BlackRock that could emerge from concurrent approvals of multiple filings.
A decision from the SEC on this review methodology will have far-reaching implications for the mainstream adoption and regulatory legitimacy of Ethereum ETFs. The requested approach could shape investor accessibility and establish critical precedents for cryptocurrency-based financial products moving forward.