line chart
Headlines

Ark Invest Pulls Ethereum ETF; 21Shares to Launch Independently

Cathie Wood’s Ark Invest has decided in a surprising move to withdraw its spot Ethereum Exchange-Traded Fund (ETF), despite the S-1 filings it has undergone earlier, hinting at a potential launch. This decision is significant, putting an end to Ark Invest and 21Shares’ partnership for this particular ETF.

Ark Invest is well-known for using its innovative and disruptive technologies. It has announced that instead of pursuing Ethereum ETFs, it will now provide investors with exposure to Ethereum’s underlying technology through investment products like innovation equity ETFs, digital asset futures ETFs, and the ARK Venture Fund. This demonstrates its commitment to leveraging its active management expertise.

21Shares to Independently Launch Ethereum ETF

Following Ark Invest’s withdrawal, 21Shares will proceed with the Ethereum ETF independently. Bloomberg analyst Eric Balchunas has confirmed the removal of Ark Invest from all documentation related to it, as well as the ETF’s name, which clearly reveals that 21Shares will be managing the ETF autonomously. However, both parties shall maintain their collaboration with Bitcoin and future ETFs, ensuring a stable partnership that will be continued. 

Market Awaits Launch of New Cryptocurrency ETFs

The crypto market is currently expecting a potential launch of these ETFs, tentatively scheduled for July 4. However, it may take quite a few weeks to begin trading. This span of time will be important for investors and issuers to scrutinize the evolving regulations properly. 

Ark Invest’s decision to withdraw points to its focus on the ARK 21Shares Bitcoin ETF (ARKB), which is also a strategic priority and outlook on the crypto market. Therefore, the fluid and rapidly modifying dynamics of the digital asset market continue to generate investment opportunities with industrial progress.

Also, check out: Top Cryptos That Will Explode Right After Spot Ethereum ETFs Launch

Related posts

Crypto Market Prediction: Altcoin Marketcap Poised To Surge 200% in Q1-2024

EdaFace Admin

Vitruveo Surpasses $1 Million Milestone in NFT Sales, Strengthens Ecosystem with Successful Fundraising

EdaFace Admin

BOME Price Gives Major Break, Aims 2x Surge 

EdaFace Admin

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More