Asset managers VanEck, Canary Capital, and 21shares have collectively appealed to the US Securities and Exchange Commission (SEC) to reconsider and restore the 'First-to-File' rule. This rule is significant for the approval process of Exchange Traded Funds (ETFs), particularly in the realm of cryptocurrency assets.

By reintroducing this criterion, the SEC could alter how swiftly and efficiently these crypto ETF applications move through the regulatory pipeline. If implemented, this decision could potentially increase opportunities for institutional investors seeking exposure to various crypto assets. VanEck, Canary Capital, and 21shares are particularly interested as they were some of the initial applicants for such funds.