ConsenSys submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) urging the SEC to approve an Ethereum spot 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. The letter highlights Ethereum’s fast block finalization, distributed and randomized verification process, high attack costs, penalty reduction, and environmental benefits. ConsenSys urged the SEC to recognize the advanced safeguards inherent in Ethereum’s design, saying they not only meet but exceed the safety and resiliency safeguards of the SEC’s previously approved Bitcoin spot ETFs. It is reported that the deadline for the SEC to make a decision on VanEck’s Ethereum spot ETF application is May 23.

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