VanEck intends to be first spot ETH ETF issuer, argues against simultaneous approvals

VanEck intends to be first spot ETH ETF issuer, argues against simultaneous approvals
фото показано с : cryptoslate.com

2024-5-23 02:04

VanEck Head of Digital Assets Research Matthew Sigel said on May 22 that the firm should be able to launch its spot Ethereum ETF before competitors.

In a conversation hosted by The Block, Sigel said that VanEck was the first to file its S-1 registration statement and “fully expects” to receive comments and “go first.”

SEC should not pick winners

Sigel argued that filing first “used to mean something before the US government started picking winners at an unprecedented scale.” He added:

“… We would urge the SEC to respect the queue.”

Sigel noted that the SEC’s decision to simultaneously approve all spot Bitcoin ETFs failed to prevent it from “choosing winners,” as certain funds now have significant assets under management (AUM) despite the simultaneous approvals.

Sigel said VanEck does not expect to act as a plaintiff or defendant if the SEC rejects its application but expects other court proceedings to resolve the matter.

Sigel said in a separate X post that a first-come, first-served approach helps issuers plan product launches. Furthermore, if early filers are forced to wait for approvals, they must update their applications for a longer timeline and spend more on costs and legal fees.

VanEck decision due May 23

The SEC must decide on VanEck’s spot ETH ETF application on May 23. This is the first of several similar applications due for a decision. Expectations around approval timelines have recently shifted for reasons related to VanEck’s stance.

Coinbase Institutional Research Analyst David Han asserted on May 15 that the SEC does not necessarily need to approve products simultaneously, citing SEC Commissioner Mark Uyeda, who alleged the SEC disguised its anti-first mover intentions.

Some have suggested a prolonged approval process for reasons distinct from Sigel’s argument. ETF Store President Nate Geraci said the SEC could approve 19b-4 filings first, then gradually respond to S-1 registration statements.

Bloomberg ETF analyst James Seyffart believes that, following initial 19b-4 approvals, companies may not launch ETH ETFs for weeks or more.

The post VanEck intends to be first spot ETH ETF issuer, argues against simultaneous approvals appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

EthereumFog (ETF) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ETF

vaneck said sigel spot etf block conversation

vaneck said → Результатов: 31


SEC remains skeptical of Bitcoin ETFs, VanEck-SolidX BTC trust met with disinterest

SEC chairman Jay Clayton remains cautious about approving a Bitcoin exchange-traded fund. VanEck SolidX’s recently launched “limited” BTC ETF has, thus far, had abysmal uptake. “Work left to be done” The industry is making a lot of progress toward a Bitcoin ETF, said SEC Chairman Jay Clayton in an interview with CNBC’s Bob Pisani.

2019-9-10 19:30


VanEck official points out Steve Mnuchin’s 180 on US Treasury’s report on fiat currency and frauds

The main argument used by many critics of cryptocurrencies is that digital assets are used for fraudulent and nefarious activities. This was recently cited by Steve Mnuchin, the United States’s Treasury Secretary, who said that Bitcoin and the rest of the cryptocurrency market would be subject to the same level of jurisdiction that fiat money […] The post VanEck official points out Steve Mnuchin’s 180 on US Treasury’s report on fiat currency and frauds appeared first on AMBCrypto.

2019-7-20 22:30


Crypto Market to See a Huge Bullish Rally By Year End as Latest Reports Hints On an Imminent ETF Approval

As the deadline for review of ETF applications draws near, a report has tipped that approval of an ETF is highly likely. The report which is based on sources from CBOE said the outcome of a meeting between  US Securities and Exchange Commission (SEC) commissioner Elad Roisman and the CBOE, VanEck, and SolidX shows signs […] The post Crypto Market to See a Huge Bullish Rally By Year End as Latest Reports Hints On an Imminent ETF Approval appeared first on ZyCrypto.

2018-10-23 23:02