Consensys refutes SEC concerns on Ethereum fraud risks for spot Ether ETFs, citing superior security to Bitcoin. According to Bloomberg analysts, the approval odds for spot Ether ETFs in May stand at about 30%. Grayscale remains optimistic about SEC approval.
Consensys highlighted that Ethereum boasts a larger developer community than Bitcoin and operates on a fully transparent and public blockchain.
“In fact, Ethereum’s PoS implementation meets and even exceeds the security of Bitcoin’s proof-of-work , which underlies Bitcoin-based ETFs that have already been approved for trading by the SEC” Consensys highlighted that Ethereum boasts a larger developer community than Bitcoin and operates on a fully transparent and public blockchain. Consensys urged the SEC to acknowledge Ethereum’s superior security features, surpassing those of Bitcoin-based ETPs previously approved by the SEC.
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