VanEck expresses disappointment with SEC over delay in ETF decision
VanEck criticizes SEC for repeated Bitcoin ETF delays
VanEck has openly criticized the U.S. Securities and Exchange Commission (SEC) for repeatedly delaying its decisions on key Bitcoin ETF proposals.
The firm’s Head of Digital Assets Research, Matthew Sigel, called out the SEC on social media after the agency once again pushed back a decision on allowing options trading for its spot Bitcoin ETF ($HODL), without offering a clear explanation, reports Cryptopolitan.
VanEck also awaits an answer on its request to enable in-kind creations and redemptions for the same fund—features designed to improve tax efficiency and flexibility for institutional investors.
Delays without clarity hurt confidence
Sigel described the SEC’s lack of communication as “confounding and frustrating,” noting that the absence of feedback leaves companies in the dark about what needs fixing. He tagged SEC Commissioner Hester Peirce, urging her Crypto Task Force to provide guidance.
Industry participants argue that continued silence and indecision erode investor confidence and stall innovation, especially for firms trying to navigate the rules in good faith. Many see the delays as symptomatic of a broader regulatory bottleneck affecting numerous ETF applicants across the crypto space.
Industry continues to file despite setbacks
Despite the SEC’s slow pace, new ETF filings continue to flood in. CoinShares’ spot XRP ETF, Fidelity’s in-kind crypto redemption requests, and Canary Capital’s staked Tron ETF are all waiting in line. Asset managers believe the potential rewards of being first to market outweigh the regulatory uncertainty.
With the Trump administration showing a more crypto-friendly stance, many firms remain hopeful for eventual approval and clearer rules. The SEC’s willingness to acknowledge new filings—even if not approving them—offers a faint signal that a shift toward greater clarity could be on the horizon.
Recently we wrote that the U.S. Securities and Exchange Commission (SEC) announced on May 20 that it would delay its decision on several pending cryptocurrency exchange-traded fund (ETF) proposals, including Bitwise’s bid to enable Ether staking within its ETF and Grayscale’s XRP-tracking product.
