According to CoinMeta, the U.S. Securities and Exchange Commission (SEC) has strengthened its scrutiny of the companies behind special purpose vehicles (SPVs), requiring registered investment advisors to provide evidence that they indeed hold shares in the private companies they claim to own. Such funds have intensified their marketing efforts before initial public offerings (IPOs) and listing plans in SpaceX, which has also led to an increase in investor complaints. The current review process by the SEC includes requests for documents and on-site interviews, and can last from several weeks to up to a year.