Consensys urged the SEC to consider Ethereum's positive qualities that — in some cases — are better than Bitcoin's.
Consensys responded to the United States Securities and Exchange Commission's request for information on whether Ethereum's proof-of-stake consensus mechanism raises "unique concerns" of fraud and manipulation worth considering regarding applications for spot ether exchange-traded funds.
"In fact, Ethereum’s PoS implementation meets and even exceeds the security of Bitcoin’s Proof of Work , which underlies bitcoin-based ETFs that have already been approved for trading by the SEC," Consensys explained in a blog post. It also noted that Ethereum's active developer community is larger than Bitcoin's, and that the blockchain is also fully public and transparent.
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