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.Form S-1, there are no updated fees.
In their partnership, 21Shares sponsored the ETF, with Delaware Trust Company acting as the trustee. Coinbase Custody Trust Company securely holds the underlying Ether assets, while ARK Investment Management played a supporting role as a sub-adviser responsible for marketing the shares to investors. Apart from Bitcoin and Ethereum futures, the duo launched another product called the ARK 21Shares Blockchain and Digital Economy Innovation ETF. This ETF is designed to invest in public equities of companies within the blockchain industry.
According to 21Shares, this provides investors with what it describes as a “holistic exposure” to the growth of blockchain technology.Spot Ethereum ETF 'fee war' begins as Franklin Templeton discloses feesfor a spot Ether ETF. The fund aims to provide Ether direct exposure and trade on the Cboe BZX Exchange, which will utilize the CME CF Ether-Dollar Reference Rate—New York Variant.
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