Coinbase Backs Ethereum ETF Bid, Countering Fraud Concerns Despite Centralization Risks
• Coinbase supports Grayscale's Ethereum ETF application, arguing ETH is a commodity like Bitcoin • Coinbase says Ethereum market and its surveillance-sharing agreement supports approving a spot ETH ETF • Praises Ethereum's decentralized governance for mitigating fraud and manipulation risks • Comes as financial giants raise concerns about concentration risks in Ethereum network • SEC approval of Bitcoin ETFs in January was a regulatory milestone for the crypto industry