Ark Invest and 21Shares have filed for the launch of the first-ever US exchange-traded fund (ETF) that will directly invest in Ether, the second-largest cryptocurrency. The Ark Invest spot-Ethereum ETF, if approved, would mark a historic milestone in the cryptocurrency investment landscape.
Unlike recently proposed Ether futures spot-ETFs, this offering by Ark Invest and 21Shares will hold Ether itself. This direct investment approach distinguishes the Ark 21Shares Ethereum ETF from its counterparts. It also underscores the firm’s commitment to providing a comprehensive range of crypto products.
Ark Invest and Cathie Wood’s Vision
The Ark Invest spot-Ethereum ETF is a testament to Wood’s belief in the transformative power of blockchain technology and decentralized finance.
Wednesday’s filing with the SEC represents a pivotal moment in the crypto industry’s progress. Should the Ark 21Shares Ethereum ETF receive regulatory approval, it will trade under the ticker symbol ARKE. This ETF is poised to become a benchmark for Ethereum-focused investments in the US. It will provide investors with a transparent and regulated avenue to participate. The filing by Ark Invest comes at a time when the SEC is under pressure from Grayscale for the approval of its Bitcoin spot ETF.