ARK Invest is no longer a partner with 21 shares in the proposed spot Ethereum fund.
Updated: May 31, 2024, 6:46 PM EDT
ARK Invest will no longer be a partner of 21Shares for the proposed position. Ethereum 
ETH
-0.65%
In the newly revised contents Form S-1, formerly known as Ark 21Shares Ethereum ETF, was changed to 21Shares Core Ethereum ETF. A 21Shares spokesperson confirmed the change in an emailed statement to The Block.
“Based on the filing details, ARK Invest will not serve as a partner for this ETF,” the spokesperson said. “We are enthusiastic about the SEC’s recent 19b-4 approval and remain committed to increasing accessibility to cryptocurrencies as an asset class for U.S. investors.”
The spokesperson added that 21Shares and ARK will continue to collaborate on the ARK 21Shares Bitcoin ETF, which launched in January, along with other existing futures products.
An ARK spokesperson said in a statement:“We will not proceed with an Ethereum ETF,” he said, but he is still committed to the ARK 21Shares Bitcoin ETF.
“As for Ethereum, ARK believes in the transformative potential and long-term value of the Ethereum blockchain, but at this time ARK will not be pursuing an Ethereum ETF,” an ARK spokesperson said. “We will continue to evaluate efficient ways to provide investors with exposure in a way that fully leverages the benefits of this innovative technology.”
U.S. Securities and Exchange Commission Approved Last week, 19b-4 forms were filed for eight Ethereum ETFs. Issuers must ensure that the S-1 Statement is effective before commencing trading.
On Friday, issuers Franklin Templeton, VanEck and Invesco Galaxy contaminated Amended Form S-1.
Updated May 31 at 10:45 PM UTC time to include ARK’s statement.
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Sarah is a reporter for The Block covering policy, regulation and legal events. She was previously a reporter writing about securities regulation at CQ Legal, where she first began her reporting on cryptocurrencies. She Sarah has also written for The Bond Buyer and American Banker, among other financial publications. She graduated from the University of Missouri with a degree in Print and Digital Journalism. Sarah lives in Washington, DC and she is an avid coffee lover. You can follow her on Twitter @ForTheWynn.
