Non-profit organization Better Markets: Approval of spot Ethereum ETF will threaten the "broader financial system"

According to News.bitcoin, the financial non-profit organization Better Markets strongly opposes the approval of spot Ethereum ETF products, stating that this could endanger the broader financial system. In a supplementary comment letter sent to the SEC, the organization stated that approving these spot Ethereum ETPs would "intertwine the cryptocurrency industry with traditional finance," thereby exacerbating systemic risks brought about by equivalent Bitcoin products. Like Bitcoin, Ether is prone to extreme price fluctuations, making investing in Ether nothing more than a gamble.