• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
Spot Ethereum ETF News

Coinbase Urges SEC: 5 Reasons For A Spot Ethereum ETF Green Light

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Coinbase, one of the leading cryptocurrency exchanges, has formally responded to the Securities and Exchange Commission (SEC) regarding the proposal for a spot Ethereum Exchange-Traded Fund (ETF). Paul Grewal, Coinbase’s Chief Legal Officer, announced through social media platform X that the company submitted a comprehensive 27-page response, complete with 96 citations, to advocate for the approval of the proposed Grayscale Ether Trust (ETHE) ETP.

Today @coinbase responded to @SECGov's request for comment on the proposed @Grayscale Ether Trust ($ETHE) ETP. 27 pages and 96 citations that provide the (1) legal, (2) technical, and (3) economic rationale for approval. 1/6

— paulgrewal.eth (@iampaulgrewal) February 21, 2024

Ethereum’s Classification As A Commodity

The cornerstone of Coinbase’s argument rests on the classification of ETH as a commodity rather than a security. Grewal’s articulation, “ETH is not a security…before and after the Merge, the SEC, the CFTC, and the market have treated ETH not as a security but a commodity,” underscores the consensus among regulatory bodies and market participants regarding Ethereum’s status. This classification aligns with the legal framework necessary for the SEC to consider an ETF based on ETH.

Precedent Set By Bitcoin ETF Approvals

Coinbase leverages the SEC’s prior approval of Bitcoin ETFs as a precedent, advocating for consistent regulatory treatment for Ethereum. Grewal posits, “The economics show that ETH is as resilient as BTC in satisfying the Commission’s standard for ETP approvals,” highlighting the parallel between Ether’s and Bitcoin’s market robustness and maturity. This comparison serves to remind the SEC of the rationale behind its earlier decisions and suggests a similar approach for ETH.

Related Reading: Ethereum ETF Showdown: Asset Manager Franklin Templeton Enters The Ring

Technological And Operational Security Of Ethereum

The submission emphasizes the technological and operational security mechanisms inherent in Ethereum’s blockchain, particularly post-Merge. The transition to Proof of Stake is presented as a significant enhancement to Ethereum’s security features, reducing its susceptibility to fraud and manipulation. This technological robustness is a critical factor in Coinbase’s argument, underscoring the reliability and stability of ETH as an underlying asset for an ETF.

Market Dynamics And Resilience

Coinbase presents a detailed analysis of Ethereum’s market dynamics, including its depth, liquidity, and the tightness of spreads. Grewal notes, “ETH’s market depth, tightness of spreads, and price correlation across spot markets are highly indicative of a market resilient to fraud and manipulation.” This argument is designed to assure the SEC of ETH’s market stability and its capacity to support an ETF without introducing significant risks to investors.

Related Reading: Legal Analysis: Lawyer Decodes The Spot Ethereum ETF Approval Process

Surveillance-Sharing Agreement And Market Oversight

Finally, Coinbase highlights the surveillance-sharing agreement with the Chicago Mercantile Exchange (CME) as a mechanism for ensuring comprehensive market oversight. This agreement, as described by Grewal, “facilitates the sharing of information…through its surveillance of the CME ETH futures market,” which is crucial for monitoring and preventing fraudulent and manipulative practices in the ETH market.

In conclusion, Coinbase’s submission to the SEC is a rigorously constructed argument that combines legal precedent, technical security, and market stability analyzes to advocate for the approval of a spot Ethereum ETF.

Standard Chartered predicts SEC approval for an Ethereum ETF by May 23, potentially causing a price surge to $4,000 for ETH. However, Dave LaValle, head of Grayscale ETFs, recently said there is only a 50% chance that the SEC will approve the conversion of its ETH trust into a spot ETF in May.

At press time, ETH traded at $2,961.

Ethereum price
ETH price, 1-week chart | Source: ETHUSD on TradingView.com
Featured image created with DALLE, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Jake Simmons

Jake Simmons

Follow

Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

Full Profile

Related Posts

Dogecoin

Dogecoin Mining Gets $2.5M Boost From Trump-Linked Thumzup Media

14 minutes ago
World Liberty Financial

World Liberty Financial’s (WLFI) Roadmap: A Debit Card And Tokenized Assets On The Horizon

1 hour ago
crypto

South Korea’s Crypto Scene Shrinks As Traders Flock Offshore: Report

3 hours ago
DeepSeek Predicts SOL to Break $450 – $750 by Year-End, Snorter Token Stands to Benefit

DeepSeek Predicts SOL to Break $450 – $750 by Year-End, Snorter Token Stands to Benefit

13 hours ago
Switzerland’s Crossroads: Industry Leading Associations Sound Alarm on Losing Web3 Leadership

Switzerland’s Crossroads: Industry Leading Associations Sound Alarm on Losing Web3 Leadership

9 hours ago
From Slow to Hyper: Bitcoin Hyper Tipped as Uptober’s Next 1000x Crypto

From Slow to Hyper: Bitcoin Hyper Tipped as Uptober’s Next 1000x Crypto

14 hours ago

Premium Sponsors

Press Releases

  • най-добрите криптовалути

    Най-добрите криптовалути за...

    18 hours ago
  • As the Tapzi Fundraiser Continues to Generate Buzz, Could It Be One of This Year’s Best Crypto Presales?

    As the Tapzi Fundraiser Continues to Generate Buzz, Could...

    20 hours ago
  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    2 days ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    6 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.