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Coinbase Proposes Three Reasons Why The SEC Should Approve The Grayscale Ethereum Spot ETF
Summary: The SEC previously sought comments on Grayscale Ethereum Trust (ETHE)'s application to convert into a spot ETF. In a 27-page comment letter, Coinbase provided the legal, technical and economic reasons that the SEC should approve: 1. ETH is not a security. In fact, both before and after the merger, the SEC, CFTC, and the market ...
The SEC previously sought comments on Grayscale Ethereum Trust (ETHE)'s application to convert into a spot ETF. In a 27-page comment letter, Coinbase provided the legal, technical and economic reasons that the SEC should approve:
1. ETH is not a security. In fact, both before and after the merger, the SEC, CFTC, and the market no longer viewed ETH as a security, but as a commodity.
2. ETH’s Proof of Stake (PoS) has strong governance capabilities, showing strong characteristics in terms of ownership concentration, consensus, liquidity and governance, thereby reducing the risk of fraud and manipulation.
3. Economics shows that ETH is as resilient as BTC when it comes to meeting SEC ETP approval standards.
Coinbase said it is committed to urging the SEC to make informed regulatory decisions in the rapidly evolving cryptocurrency environment through continued dialogue and research.
Tags: Coinbase,Grayscale E,Grayscale Ethereum Spot ETF,SEC
Link: Coinbase Proposes Three Reasons Why The SEC Should Approve The Grayscale Ethereum Spot ETF [Copy]
