- 21Shares rebrands ETF to 21Shares Core Ethereum ETF after ARK Invest exits the project.
- ARK Invest and 21Shares continue to collaborate on the Bitcoin ETF and Blockchain ETF.
- SEC approval for eight Ethereum ETFs, pending S-1 statement effectiveness.
ARK Invest decides to pull out from Ether ETF effectively putting an end to their partnership with 21Shares. Therefore, 21Shares has moved to alter its revised S-1 registration, renaming the Ethereum spot fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF.
The newly amended Form S-1, filed by 21Shares, maintains the original fee structure and focuses on providing direct exposure to Ether. Previous filings had included provisions for receiving ETH rewards from staking, which have since been removed.
This updated strategy reflects 21Shares’ commitment to offering a streamlined investment option without the complexities of staking rewards.
Continued Partnerships and Upcoming Projects
ARK Invest and 21Shares are still working together on other initiatives even though their relationship on the Ethereum ETF has ended. The ARK 21Shares Bitcoin ETF, which debuted in January, is notable for its continuous existence.
Additionally, the two introduced the ARK 21Shares Blockchain and Digital Economy Innovation ETF, which distributes funds to blockchain companies that are publicly listed. Investors will receive a comprehensive understanding of the blockchain industry’s growth through this project.
Background and Future Prospects
The spot Ether ETF proposal from ARK Invest and 21Shares has been updated to just include direct Ether exposure. This action represents a more thorough review of their investing strategy. The initial application for the fund was submitted in September 2023, aiming to offer direct exposure to Ether and trade on the Cboe BZX Exchange.
The U.S. Securities and Exchange Commission approved 19b-4 forms for eight Ethereum ETFs, but issuers still need their S-1 statements to become effective. 21Shares continues to push forward with its updated application, ensuring continued collaborations in other crypto and blockchain projects.
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The post ARK Invest and 21Shares Part Way on the Ethereum ETF Project appeared first on Crypto News Land.
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