Scott Melker: Asset managers urge SEC to ensure a fair crypto ETF process
@scottmelker: Managers urge SEC fairness
In a recent move highlighting ongoing challenges in the cryptocurrency sector, asset managers 21Shares, Canary, and VanEck have submitted letters to the United States Securities and Exchange Commission (SEC). These letters advocate for a more equitable cryptocurrency ETF approval procedure.
The asset managers have expressed concerns over the existing approval mechanisms, which they argue disproportionately affect cryptocurrency financial products. With an increased interest from retail and institutional investors in digital assets, the call for transparency and fairness in the approval process becomes even more pressing. This proposal seeks to create a level playing field for crypto asset managers facing regulatory hurdles.
''Our main objective is to ensure that every player in the crypto space has a fair shot,'' said an unnamed representative from one of the involved firms. They stressed that a reformed system is essential for reinforcing the credibility and stability of the emerging cryptocurrency market.
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The current push for reform in cryptocurrency ETF approvals aligns with broader industry trends, such as the surge in capital inflows highlighted by recent investment into Coinbase, underscoring robust investor confidence in the sector. In parallel, the debate around regulatory transparency recalls prior analyses of Ethereum’s recovery potential following market volatility, reflecting a persistent drive for credible and equitable development within digital asset markets.
In the previous news, tweet author Scott Melker discussed potential market impacts based on regulatory decisions. Read more.
