Ark Invest Exits Ether ETF Race, 21Shares Rebrands Fund

Ark Invest Exits Ether ETF Race, 21Shares Rebrands Fund



Cathie Wood’s Ark Investment Management has withdrawn from the initiative to launch a spot ether exchange-traded fund (ETF). The firm's name has been removed from the application filed in conjunction with 21Shares.



21Shares has refiled its application for the Ethereum spot ETF, rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF.



Ark Invest has also ended its partnership with 21Shares concerning this specific ETF.



The updated Form S-1 indicates that there are no changes to the fund's fees. A representative from Ark Invest, while acknowledging Ethereum’s potential and long-term value, confirmed that the firm decided not to pursue an Ether ETF at this time, citing the need to reassess its investment strategy.



This decision does not impact other ongoing collaborations between 21Shares and Ark Inv


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#ARK, #ARKInvest, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #ETF, #EthEtf, #News, #Regulations

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