pwshub.com

MetaMask Parent Pushes for Ethereum ETF Approval, Citing Enhanced Security

MetaMask Parent Pushes for Ethereum ETF Approval, Citing Enhanced Security
MetaMask Parent Pushes for Ethereum ETF Approval, Citing Enhanced Security

MetaMask Parent Company Advocates for Spot Ethereum ETF Approval

Consensys, the parent company of MetaMask, has petitioned the Securities and Exchange Commission (SEC) to approve spot market Ethereum exchange-traded funds (ETFs). Citing Ethereum's transition to a proof-of-stake consensus mechanism, Consensys argues that the network's security is superior to Bitcoin's proof-of-work system.

Ethereum's Enhanced Security

According to Consensys, Ethereum's proof-of-stake model provides greater security than Bitcoin's proof-of-work. This is attributed to the fact that proof-of-stake requires validators to stake their Ethereum tokens, increasing their incentive to act honestly.

Addressing SEC Concerns

The SEC had previously expressed concerns regarding fraud and manipulation risks associated with Ethereum. However, Consensys dismisses these concerns as "wholly without merit," emphasizing that Ethereum's security model surpasses that of Bitcoin.

Comparison to Bitcoin ETFs

Consensys points to the SEC's recent approval of spot market Bitcoin ETFs as evidence that security concerns should not prevent the approval of Ethereum ETFs. The company contends that Ethereum's enhanced security measures provide a robust framework that significantly

newsid: q9tbu6rhd5up054

Related stories
32 minutes ago - Ethereum faces bearish pressure below $3,200, with key support and resistance levels at $3,000 and $3,280.
33 minutes ago - Analyst Crypto Rover warns of potential $3 billion Bitcoin short liquidation if it reclaims $71,600, amidst market volatility and record liquidations.
1 hour ago - Bitcoin's recovery attempt failed, leading to a decline below $65,000 and suggesting further downward movement.
1 hour ago - On-chain analyst Willy Woo p
4 hours ago - Analyst The Flow Horse p
Other stories
3 hours ago - SAG-AFTRA negotiates a deal to protect actors' voices from unrestricted AI use, ensuring consent and compensation.
5 hours ago - Solana releases a network update to address congestion, with further enhancements planned.
6 hours ago - Despite the upcoming Bitcoin Halving, analysts warn that the recent market decline does not guarantee further gains.
6 hours ago - Bitcoin miners face competition from booming AI industry's power-hungry data centers, particularly in Texas.
6 hours ago - Germany's Landesbank Baden-Württemberg will offer crypto custody services with Bitpanda in 2024 due to increasing corporate demand.