ConsenSys submits comment letter to U.S. SEC advocating approval of spot Ethereum ETF

Golden Finance reported that Ethereum infrastructure provider ConsenSys submitted a comment letter to the U.S. Securities and Exchange Commission advocating for the approval of a spot Ethereum ETF. The letter countered the SEC’s concerns about potential fraud and manipulation, as well as concerns about Ethereum’s proof-of-stake consensus design. ConsenSys emphasizes that Ethereum’s security is superior to the framework supporting existing Bitcoin ETFs. The letter highlights Ethereum’s fast block finalization, distributed verification process, high attack costs, reduced penalties, and environmental benefits. The deadline for the SEC to make a decision on VanEck’s spot Ethereum ETF application is May 23.