The Securities and Exchange Commission (SEC) has extended its review period for the Ethereum exchange-traded fund (ETF) proposal submitted by Grayscale Investments. This move comes amidst similar delays for other proposed spot Ethereum funds from major players like BlackRock and Fidelity. The SEC’s decision to seek further public input marks a significant moment in the ongoing debate over cryptocurrency-based investment products.
Concerns Over Ethereum’s Proof of Stake
The SEC’s focus in this latest delay centers around Ethereum’s transition to a proof of stake mechanism. The regulator is keen to understand whether this change could lead to potential issues of fraud and manipulation within the proposed fund.
The agency has openly questioned the concentration of control or influence by a few entities or individuals in Ethereum’s network and its impact on the overall stability and security of the proposed ETF. These concerns underline the SEC’s cautious approach to the rapi
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