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The parent company of MetaMask, one of the world\u2019s most popular crypto wallets, is urging the U.S. Securities and Exchange Commission (SEC) to approve spot market Ethereum (ETH<\/a>) exchange-traded funds (ETFs).<\/p>\n In a new letter<\/a> to the SEC, Consensys asks the regulatory agency to approve spot market ETH ETFs as Ethereum\u2019s proof-of-stake consensus mechanism, which it transitioned to in 2022, is safer than Bitcoin\u2019s (BTC<\/a>) proof-of-work system, according to the firm.<\/p>\n Consensys notes the SEC had previously asked<\/a> for public commentary about how to address the \u201cunique concerns\u201d associated with Ethereum when it comes to fraud and manipulation.<\/p>\n In response, Consensys says that the SEC\u2019s concerns are \u201cwholly without merit\u201d and that Ethereum\u2019s security model is better than Bitcoin\u2019s.<\/p>\n \u201cIn fact, Ethereum\u2019s PoS implementation meets and even exceeds the security of Bitcoin\u2019s Proof of Work (PoW).\u201d<\/em><\/p>\n Consensys goes on to say<\/a> that since the SEC greenlit<\/a> spot market BTC ETFs in January, it wouldn\u2019t make sense to reject Ethereum ETFs for security purposes.<\/p>\n \u201cEthereum\u2019s PoS consensus mechanism, decentralized development community and inherent network transparency establish a robust security framework that significantly reduces the risk of fraud and manipulation as compared with Bitcoin\u2026<\/em><\/p>\n There is no justifiable reason to deny the listing and trading of the iShares Ethereum Trust based on concern over Ether\u2019s susceptibility to fraud and manipulation. <\/em><\/p>\n We urge the Commission to recognize the advanced safeguards inherent in Ethereum\u2019s design, which not only meet but exceed the exemplary security and resilience safeguards underlying Bitcoin-based ETPs that have been previously approved by the Commission.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The parent company of MetaMask, one of the world\u2019s most popular crypto wallets, is urging the U.S. Securities and Exchange Commission (SEC) to approve spot market Ethereum (ETH) exchange-traded funds (ETFs). In a new letter to the SEC, Consensys asks the regulatory agency to approve spot market ETH ETFs as Ethereum\u2019s proof-of-stake consensus mechanism, which […]<\/p>\n","protected":false},"author":2,"featured_media":165885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-275030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=275030"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275030\/revisions"}],"predecessor-version":[{"id":275032,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/275030\/revisions\/275032"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/165885"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=275030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=275030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=275030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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