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Ark Invest, in an official statement, noted that it continues to believe in Ethereum’s “transformative potential and long-term value.” However, Ark will no longer pursue an Ether ETF product. As issuers anticipate clear communication from the regulatory body, some stakeholders are entertaining doubt as to the potential of the spot Ethereum ETF product. Global banking firm JPMorgan believes that these products could attract a much lower share of inflows than expected.
Analysts are, however, optimistic that if the SEC gives the green light, the product is likely to perform well in the crypto space.Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments.
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