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 a comment letter filed to the regulatory agency, the blockchain and web3 software development company behind the well-known MetaMask wallet said such concerns are, in Consensys' own summary, "wholly without merit."

"In fact, Ethereum’s PoS implementation meets and even exceeds the security of Bitcoin’s Proof of Work (PoW), which underlies bitcoin-based ETFs that have already been approved for trading by the SEC," Consensys explained in a blog post.

Consensys also noted that Ethereum features faster …