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Home»ADOPTION NEWS»ARK Invest and 21 Shares have cut the staking component in their latest spot Ethereum ETF filing.
ADOPTION NEWS

ARK Invest and 21 Shares have cut the staking component in their latest spot Ethereum ETF filing.

By Crypto FlexsMay 10, 20243 Mins Read
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ARK Invest and 21 Shares have cut the staking component in their latest spot Ethereum ETF filing.
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Posted 1 minute ago In ~

Cathie Wood’s ARK Invest and 21Shares spot ether exchange-traded fund offerings do not include staking.

previously filingArkInvest/21 Shares includes a staking component called “Sponsor”. From time to time, you may stake a portion of the Trust’s assets through one or more trusted staking providers.” That specific language was not included in the updated version. filing On Friday.

Bloomberg ETF analyst Eric Balchunas said the updated filing eliminating staking could have several implications. post On Friday

“It may appear that they are refining the shape of the document based on comments from the SEC (which would be good news), but no comments have been made yet,” Balchunas said. “So it could be a Hail Mary or one less thing to use if the SEC says no. I’m not sure (yet).”

ARK Invest and 21 Shares did not immediately respond to requests for comment.

Ark Invest and 21 Shares applied As for the Spot Ether ETF in September, the fund said it would provide direct exposure and trading to Ether on the Cboe BZX Exchange using the CME CF Ether-Dollar Reference Rate – New York Variant.

21Shares is the trust’s sponsor, Delaware Trust Company is the trustee, and Coinbase Custody Trust Company is the custodian of the Ether. ARK Investment Management is a sub-advisor to the Trust and will provide assistance in marketing the shares.

Optimism about the SEC’s approval of a spot ether ETF has diminished over the past few months. Balchunas last month lowered His estimate of his chances of getting the job. Ethereum ETH

-3.92%
ETF approvals will increase from about 70% to 25% by the end of May.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Sarah is a reporter for The Block covering policy, regulation and legal events. Sarah was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.

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