Coinbase provides five-point spot Ethereum ETF application reason to the US SEC: shares that can be classified as commodity-based trusts

Coinbase met with officials from the US Securities and Exchange Commission (SEC) this week to discuss rule changes for launching a spot Ethereum exchange-traded fund (ETF). According to a meeting transcript shared by the SEC, Coinbase provided five reasons for the application of a spot Ethereum ETF, including:

1. Shares of a spot Ethereum ETF can be classified as commodity-based trust shares;

2. The SEC's approval of a spot Bitcoin ETP applies with equal or greater force to Ethereum;

3. Ethereum's mechanism can significantly limit sensitivity to fraud and manipulation;

4. The performance of the Ethereum spot market has shown a high degree of resistance to fraud and manipulation;

5. Like Bitcoin, comprehensive monitoring sharing agreements between exchanges and the Chicago Mercantile Exchange (CME) will help monitor fraudulent and manipulative behavior.