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Home»ADOPTION NEWS»ARK Invest is no longer a partner with 21 shares in the proposed spot Ethereum fund.
ADOPTION NEWS

ARK Invest is no longer a partner with 21 shares in the proposed spot Ethereum fund.

By Crypto FlexsJune 1, 20243 Mins Read
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ARK Invest is no longer a partner with 21 shares in the proposed spot Ethereum fund.
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Posted 1 minute ago In ~

Updated: May 31, 2024, 6:46 PM EDT

ARK Invest will no longer be a partner of 21Shares for the proposed position. Ethereum ETH

+1.12%
The fund, according to an amended registration statement filed late Friday.

In the newly revised contents Form S-1, formerly known as Ark 21Shares Ethereum ETF, was changed to 21Shares Core Ethereum ETF. A 21Shares spokesperson confirmed the change in an emailed statement to The Block.

“Based on the filing details, ARK Invest will not serve as a partner for this ETF,” the spokesperson said. “We are enthusiastic about the SEC’s recent 19b-4 approval and remain committed to increasing accessibility to cryptocurrencies as an asset class for U.S. investors.”

The spokesperson added that 21Shares and ARK will continue to collaborate on the ARK 21Shares Bitcoin ​​ETF, which launched in January, along with other existing futures products.

An ARK spokesperson said in a statement:“We will not proceed with an Ethereum ETF,” he said, but he is still committed to the ARK 21Shares Bitcoin ETF.

“As for Ethereum, ARK believes in the transformative potential and long-term value of the Ethereum blockchain, but at this time ARK will not be pursuing an Ethereum ETF,” an ARK spokesperson said. “We will continue to evaluate efficient ways to provide investors with exposure in a way that fully leverages the benefits of this innovative technology.”

U.S. Securities and Exchange Commission Approved Last week, 19b-4 forms were filed for eight Ethereum ETFs. Issuers must ensure that the S-1 Statement is effective before commencing trading.

On Friday, issuers Franklin Templeton, VanEck and Invesco Galaxy contaminated Amended Form S-1.

Updated May 31 at 10:45 PM UTC time to include ARK’s statement.


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. She 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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