Key Points:
The amended prospectus document filed with the US Securities and Exchange Commission (SEC) late Friday disclosed the removal of Ark‘s name from the application, with the fund now renamed as the 21Shares Core Ethereum ETF.
Following this development, 21Shares has submitted a revised application for 21Shares Core Ethereum ETF. Moreover, ARK Invest will no longer be a partner for this ETF. However, a spokesperson for 21Shares assured that the company will maintain its collaboration with ARK Invest on the ARK 21Shares Bitcoin ETF launched in January and other existing futures products.
The decision by Ark comes after the successful launch earlier this year of spot-Bitcoin exchange-traded funds, with the $3.2 billion ARK 21Shares Bitcoin ETF (ticker ARKB) ranking fourth in assets. Despite this withdrawal from the Ethereum ETF race, Ark remains dedicated to its Bitcoin ETF endeavor.
The recent unexpected approval by the SEC of 19b-4 filings made by major exchanges to list spot-Ether ETFs has prompted issuers to file revised S-1 statements. This development signifies increased access to crypto for US investors, eliciting enthusiasm from 21Shares.
The US Securities and Exchange Commission’s approval of 19b-4 forms for eight Ethereum ETFs marks a significant step forward. However, issuers are still awaiting the effectiveness of their S-1 statements before trading can commence.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
The pre-sale of the renowned cryptocurrency education platform, 99Bitcoins ($99BTC), has raised over $2.2 million,…
Binance account misuse is being closely monitored by the exchange and taking action to protect…
Spot Ethereum ETF approval could take place on July 4, with major firms like BlackRock…
Mpeppe (MPEPE) has managed to attract the attention of the crypto community, particularly those who…
US government Bitcoin transfer of 3,940 BTC ($240M) to Coinbase Prime was seized from narcotics…
Hashed expands to Abu Dhabi, partnering with local tech ecosystem, Hub71. The firm aims to…
This website uses cookies.