According to PANews, Ethereum infrastructure provider ConsenSys has submitted a comment letter to the U.S. Securities and Exchange Commission (SEC), urging the approval of an Ethereum spot ETF. The letter refutes the SEC's concerns about potential fraud and manipulation, as well as concerns about Ethereum's proof of stake consensus design. It highlights Ethereum's rapid block finality, distributed and random verification process, high attack costs, slashing penalties, and environmental benefits.
ConsenSys urges the SEC to recognize the inherent advanced security measures in Ethereum's design, stating that these measures not only meet but exceed the safety and resilience safeguards of the previously approved Bitcoin spot ETF. The deadline for the SEC to make a decision on VanEck's Ethereum spot ETF application is May 23.