ARK Invest ends partnership with 21Shares on Ether ETF
This decision does not affect the ongoing collaboration between 21Shares and ARK Invest on other projects like the ARK 21Shares Bitcoin ETF launched in January.
21Shares has filed an updated application for its Ethereum spot ETF S-1, rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. Additionally, ARK Invest has ended its partnership with 21Shares and will no longer be involved with the ETF.
According to the newly amended Form S-1, there are no updated fees. Despite acknowledging Ethereum’s groundbreaking potential and long-term value, a representative from ARK Invest confirmed that the firm has decided not to move forward with an Ether (ETH) ETF, citing a need to reassess its investment strategy.
However, this decision does not affect the ongoing collaboration between 21Shares and ARK Invest on other projects, such as the ARK 21Shares Bitcoin (BTC) ETF launched in January.
Go to Source
Author: Amaka Nwaokocha
