ARK Invest has announced that it will no longer partner with 21Shares for a proposed spot Ethereum fund, as detailed in an amended registration statement filed late Friday. The Ark 21Shares Ethereum ETF has been renamed to the 21Shares Core Ethereum ETF.
A spokesperson for 21Shares confirmed the change, stating, “As the filing details, ARK Invest will not be serving as a partner for this ETF. We are enthusiastic about the SEC’s recent 19b-4 approval and are committed to increasing access to crypto as an asset class for U.S. investors.”
Despite this change, 21Shares and ARK will continue collaborating on the ARK 21Shares Bitcoin ETF, which launched in January, along with other existing futures products. A spokesperson for ARK emphasized their ongoing commitment to the ARK 21Shares Bitcoin ETF while expressing a strategic pause on the Ethereum ETF.
“ARK believes in the transformative potential and long-term value of the Ethereum blockchain but will not be moving forward with an Ethereum ETF at this time,” the ARK spokesperson said. “We will continue evaluating efficient ways to provide our investors with exposure to this innovative technology.”
The U.S. Securities and Exchange Commission recently approved 19b-4 forms for eight Ethereum ETFs, with issuers such as Franklin Templeton, VanEck, and Invesco Galaxy amending their S-1 forms on Friday.