ARK Invest Withdraws from Spot Ethereum ETF Application with 21Shares – Blockonomi


TLDR

ARK
Invest,
led
by
Cathie
Wood,
has
withdrawn
its
involvement
in
the
race
to
launch
an
exchange-traded
fund
(ETF)
that
would
directly
invest
in
Ether,
the
second-largest
cryptocurrency.

The
amended
prospectus
document,
known
as
Form
S-1,
filed
with
the
US
Securities
and
Exchange
Commission
(SEC)
on
Friday,
revealed
that
ARK’s
name
was
removed
from
the
application
for
the
spot-Ether
ETF
that
it
had
filed
in
partnership
with
21Shares.

How To Get Free Crypto  

As
a
result,
the
fund’s
name
has
been
changed
from
Ark
21Shares
Ethereum
ETF
to
21Shares
Core
Ethereum
ETF.

Despite
the
withdrawal
from
the
Ethereum
ETF,
ARK
Invest
remains
committed
to
its
Bitcoin
ETF,
the
$3.2
billion
ARK
21Shares
Bitcoin
ETF
(ticker
ARKB),
which
currently
holds
the
fourth
position
in
terms
of
assets
among
Bitcoin
ETFs.

The
move
comes
after
ARK
joined
forces
with
21Shares
as
one
of
the
successful
issuers
that
launched
spot-Bitcoin
ETFs
earlier
this
year.

The
unexpected
approval
by
the
SEC
of
the
19b-4
filings
made
by
exchanges
operated
by
Cboe
Global
Markets
Inc.,
Nasdaq,
and
the
New
York
Stock
Exchange
to
list
spot-Ether
ETFs
created
anticipation
in
the
market.

Coinbase Banner  

However,
issuers
still
await
the
regulator’s

approval
of
their
S-1
statements
before
trading
can
commence.

In
response
to
the
recent
developments,
21Shares
expressed
enthusiasm
about
the
SEC’s
approval
and
reaffirmed
their
commitment
to
increasing
access
to
cryptocurrencies
as
an
asset
class
for
US
investors

.
They
also
highlighted
their
continued
partnership
with
ARK
on
the
ARK
21Shares
Bitcoin
ETF,
which
was
launched
in
January,
as
well
as
their
existing
lineup
of
futures
products.

Several
other
issuers,
including
Franklin
Templeton,
Fidelity
Investments,
VanEck,
and
Invesco
Ltd.,
have
filed
revised
S-1
statements,
signaling
their
intentions
to
launch
Ether
ETFs.

However,
the
SEC’s
decision
on
these
documents
is
yet
to
be
determined.

Bloomberg
ETF
analyst
James
Seyffart
believes
the
approval
of
spot
Ethereum
ETFs

was
likely
influenced
by
political
decisions
rather
than
purely
financial
considerations.

In
contrast,
crypto
investor
and
trader
Brian
Kelly
has
suggested

that
Solana
could
potentially

become
the
next
cryptocurrency
to
have
a
spot
ETF
in
the
United
States,
following
Bitcoin
and
Ethereum.

Go to Source
Author: Oliver Dale


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.