MetaMask Approved Ethereum-ETF: Support from a Major Developer
Date: 2024-04-02 Author: Gabriel Deangelo Categories: IN WORLD
The developer of the popular cryptocurrency wallet MetaMask, Consensys, supported the launch of spot Ethereum-ETFs by sending a corresponding letter to the US Securities and Exchange Commission (SEC).
Letter to the SEC: Support for the Ethereum-ETF Idea
The document notes that Ethereum provides a more reliable basis for ETFs than its Bitcoin-based counterparts. Consensys emphasizes that the implementation of the Proof-of-Stake (PoS) concept in Ethereum is superior in security to the Proof-of-Work (PoW) used in the Bitcoin network, on which SEC-approved ETFs are based.
Advantages of Ethereum: Highlighted by the Company
Its filing with the SEC also highlights Ethereum's structural advantages, including fast block finalization, a randomized verification process, deterrent mechanisms, and environmental benefits.
Call for Recognition: Key Consensys Arguments
Consensys calls on the Commission to recognize the enhanced security measures inherent to Ethereum and notes that a final decision on spot Ethereum ETFs is expected at the end of May, after deferring the Commission's decision to the end of March 2024.
Various Scores: Expert Opinion on the Probability of Ethereum ETFs
Expert assessments of the likelihood of an ETF launching on Ethereum vary, but bets on the Polymarket platform show that only a small number of traders believe in a positive outcome of this proposal.
