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ConsenSys submits comment letter to the US SEC, advocating approval of spot Ethereum ETF

Ethereum infrastructure provider ConsenSys has submitted a comment letter to the US Securities and Exchange Commission advocating for the approval of a spot Ethereum 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. ConsenSys emphasizes that Ethereum's security is superior to the framework supporting existing Bitcoin ETFs. The letter highlights Ethereum's fast block finality, distributed validation process, high cost of attack, reduced penalties, and environmental benefits.

The deadline for the SEC to make a decision on VanEck's spot Ethereum ETF application is May 23.

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