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.

Read more: Ethereum Price Prediction For 2024, 2025, 2026 and 2030: Super Crypto Bull Run

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.