Cathie Wood’s Ark Investment The management has pulled out of the race to create a spot-ether exchange traded fund (ETF) and its name was removed from 21Shares’ application.
21Shares submitted an updated application to the SEC for its Ethereum Spot ETF. The fund was rebranded from Ark 21Shares Ethereum Fund into 21Shares Core Ethereum.
Ark Invest also terminated its partnership with 21Shares in relation to this ETF.
It is important to note that the word “you” means “you”. amended Fees are unchanged on Form S-1. Despite Ethereum’s long-term potential, a Ark Invest representative refused to acknowledge its value. confirmed It was announced that the company decided against launching an Ether ETF citing the need to evaluate its investment strategy.
21Shares’ and ARK Invest’s ongoing collaboration on projects like the ARK 21Shares is not affected by this decision. Bitcoin ETF launched In January,
This year has been a busy one for the earliest part of this decade. Ark and 21Shares teamed up Launch one of the 11 spot Bitcoin ETFs available in the U.S. Ark 21Shares Bitcoin Trust ETF ($19 billion) is the leader in this category, with assets of $3.2 billion.
Delaware Trust Company acted as trustee in their partnership with 21Shares.
Coinbase Custody Trust Company secures the Ether assets while ARK Investment Management acted a as a subadviser, responsible for marketing shares to investors.
This week the U.S. Securities and Exchange Commission announced that it has revoked its approval of the U.S. Securities and Exchange Commission’s (SEC). approved 19b-4 forms Eight Ethereum ETFs are available. Before trading can begin, the S-1 statement of issuers must become effective.
“We are enthusiastic about the SEC’s recent 19b-4 approval and are committed to increasing access to crypto as an asset class for U.S. investors,” 21Shares made a public statement.
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Source: crypto.news