- ARK Invest is no longer a partner in 21Shares spot Ethereum ETF.
- Four spot ETH ETF issuers submitted their S-1 filings on Friday.
Ark Invest, the prominent global asset manager, announced on June 1, that it is no longer a partner in the ARK 21Shares spot Ethereum ETFs. The platform stated that 21Shares will be going solo on the Ethereum ETFs.
Following this, the SEC released the amended S-1 filings where the ETF was renamed 21Shares Core Ethereum ETF. The ETF was previously named ARK 21Shares Ethereum ETF. The ARK 21Shares Ethereum ETF was one of the eight spot ETH ETFs approved by the SEC on May 23 to be issued on the BZX Exchange.
Did ARK Choose BTC Over ETH ETF?
ARK Invest and 21Shares have partnered to launch multiple crypto assets including Bitcoin Future ETFs. The more recent ones are the spot BTC ETFs. ARK Invest has stated that 21Shares aligns with its ‘open, transparent ethos’ and simplifies crypto investment access.
Although, presently ARK Invest has decided not to go forward with its 21Shares partnership for the spot Ethereum ETF. However, it believes in Ethereum’s transformative potential and the long-term value of ETH Blockchain. It will continue to evaluate efficient ways of investing that will provide investors with exposure to innovative technology with full benefits as stated in Erik Balchunas’s X account.
However, ARK Invest will continue its partnership with 21Shares on spot BTC ETFs which were approved on January 11 2024. It stated, “We remain fully committed to the ARK 21Shares Bitcoin ETF (ARKB) as we believe bitcoin is a public good that everyone should be able to access at low cost.”
Moreover, 21Shares submitted its amended S-1 filings which stated that it will be issued on the BZX Exchange. The fund is sponsored by 21Shares US LLC with CSC Delaware Trust Company as the Trustee. Additionally, Coinbase Custody is the Ether Custodian of the fund.
Finally, four other issuers — Franklin Templeton, VanEck, Invesco Galaxy and BlackRock submitted their S-1 filings on Friday adhering to the SEC’s announcement.
Highlighted Crypto News Today:
EOS Network Adopts Revolutionary Tokenomics Model, Marking a New Era
