Consensys Urges SEC for Ethereum ETF Approval

Elena Rossi
1 min read

Consensys, a key player in the blockchain and Web3 software space, has submitted a compelling argument to the Securities and Exchange Commission (SEC) for the approval of a spot Ethereum exchange-traded fund (ETF). In their comment letter to the SEC, Consensys addresses concerns raised by the Commission regarding Ethereum's proof-of-stake (PoS) consensus mechanism and the potential for fraud and manipulation. They maintain that Ethereum's safeguards exceed those of Bitcoin's and urge the SEC to recognize its advanced design. Consensys also emphasizes the energy efficiency and environmental friendliness of Ethereum's PoS model compared to Bitcoin's PoW. Despite constant delays by the SEC, stakeholders anticipate a decision on the Ethereum ETF in the coming months.

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