Ethereum

Ark 21Shares Spot Ethereum ETF Now Filed For Amendment

Key Points:

Ark 21Shares spot Ethereum ETF filing has been updated, adding a staking section.
Ethereum tops $2,400 amid alignment with Bitcoin ETF filings.
SEC to decide on spot Ether ETFs in May; filing emphasizes cash creation mechanism.

Ark Invest and 21Shares have made significant amendments to their S-1 filing for Ark 21Shares spot Ethereum ETF, reflecting their adaptability in the evolving landscape of cryptocurrency investment.

Ark 21Shares Spot Ethereum ETF Now Filed For Amendment 2

Ark 21Shares Spot Ethereum ETF Filing Modified with Staking Section

Notably, the Ark 21Shares spot Ethereum ETF updated filing introduces a section dedicated to staking, mirroring the company’s consistent approach seen in its Bitcoin ETF, which now includes language about cash creation.

Following these updates, Ether soared beyond the $2,400 mark, spurred by the revised S-1 paperwork submitted to the U.S. Securities and Exchange Commission (SEC). This aligns the Ethereum ETF with recently approved spot Bitcoin ETFs, signaling a potential shift in regulatory stance.

SEC Review Looms for Ethereum ETFs Amid Cash Creation Emphasis

The amended filing features a cash creation and redemption mechanism, echoing the format favored by regulators for spot Bitcoin ETFs approved in January. Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, remarked that these changes bring the Ethereum ETF application more in line with its Bitcoin counterparts.

Scott Johnsson, a General Partner at Van Buren, highlighted the bracketed staking section, indicating Ark 21Shares’ anticipation of SEC scrutiny.

The SEC is set to make a decision on the spot Ethereum ETFs in May, with the industry divided on the outcome. Cash creations and redemptions have been instrumental in recent approvals of spot Bitcoin ETFs, indicating a similar expectation for spot Ethereum ETFs.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.