ARK Invest is no longer involved in the 21Shares spot Ethereum ETF, according to an announcement by the global asset manager on June 1. As a result, 21Shares will now operate the Ethereum ETF on its own. The SEC has released amended S-1 filings, renaming the ETF as the 21Shares Core Ethereum ETF, previously known as the ARK 21Shares Ethereum ETF. This ETF was one of the eight spot ETH ETFs approved by the SEC on May 23 for issuance on the BZX Exchange.
ARK Invest and 21Shares have previously partnered to launch various crypto assets, including Bitcoin Future ETFs. However, ARK Invest has chosen not to continue its partnership with 21Shares for the spot Ethereum ETF. Nevertheless, ARK Invest remains a believer in Ethereum’s transformative potential and long-term value in the blockchain industry. It will continue to explore efficient investment opportunities that provide investors with exposure to innovative technology, as stated by Erik Balchunas’s X account.
Despite the decision regarding the Ethereum ETF, ARK Invest will continue its partnership with 21Shares for spot BTC ETFs, which were approved on January 11, 2024. The asset manager emphasizes its commitment to the ARK 21Shares Bitcoin ETF (ARKB), as it believes that bitcoin is a public good that should be accessible to everyone at a low cost.
In addition, 21Shares has submitted amended S-1 filings indicating that the ETF will be issued on the BZX Exchange. The fund is sponsored by 21Shares US LLC, with CSC Delaware Trust Company serving as the Trustee. Coinbase Custody has been appointed as the Ether Custodian for the fund.
Furthermore, four other issuers—Franklin Templeton, VanEck, Invesco Galaxy, and BlackRock—have submitted their S-1 filings on Friday, in accordance with the SEC’s announcement.
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