The letter stated that Ethereum is the second cryptocurrency after BTC in terms of potential and asset turnover, and the security of PoS in terms of capitalization in the second cryptocurrency is even higher than Proof of Work in Bitcoin.
The advantages of Eht in ConsenSys include a distributed verification process, built-in mechanisms to combat fraud and manipulation of all kinds, high attack costs and environmental advantages over Bitcoin.
“We urge the SEC to recognize Ethereum’s enhanced security, which not only matches but exceeds the security and resilience of previously SEC-approved Bitcoin ETFs,” the letter emphasizes.
Source: Ferra
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