Ethereum infrastructure provider Consensys submitted a comment letter to the U.S. SEC advocating for the approval of an Ethereum spot ETF. The letter refutes the SEC’s concerns about potential fraud and manipulation as well as Ethereum’s PoS consensus design.
Consensys emphasized that the security of the Ethereum PoS mechanism is superior to the Bitcoin PoW mechanism, which is the basis for the Bitcoin ETF that has been approved by the SEC for online trading. The letter highlights Ethereum’s fast block confirmations, distributed verification process, high attack costs, reduced penalties, and environmental benefits.