ARK Invest ends partnership with 21Shares on Ether ETF

The decision does not affect 21Shares and ARK Invest's collaboration on other products, such as the ARK 21Shares Bitcoin ETF, launched in January.

ARK Invest ends partnership with 21Shares on Ether ETF

NEWS

21Shares has filed to update its Ethereum ETF, rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. Additionally, ARK Invest has ended its partnership with 21Shares and will not be involved in the management of the ETF.

According to the recently amended Form S-1, there is no update on the fees to be charged. Despite recognizing Ethereum's innovative potential and long-term value, an ARK Invest representative confirmed that the company has decided not to move forward with an Ether ETF.

ETH

tickers down

R$20,072

, citing the need to reevaluate your investment strategy.

ARK and 21 Shares partnership

However, this decision does not affect the collaboration between 21Shares and ARK Invest on other projects such as the ARK 21Shares Bitcoin ETF

BTC

tickers down

R$357,510

, released in January.

21Shares sponsored the ETF, with Delaware Trust Company serving as trustee. The Coinbase Custody Trust Company holds the underlying assets of Ether, while ARK Investment Management played a supporting role as a sub-advisor responsible for marketing the shares to investors.

In addition to Bitcoin and Ethereum futures, the duo launched another product called ARK 21Shares Blockchain and Digital Economy Innovation ETF. This ETF is designed to invest in public shares of companies in the blockchain sector.

According to 21Shares, this provides investors with what it describes as “holistic exposure” to the growth of blockchain technology.

Ark21 Shares Filings

ARK Invest and 21Shares reviewed the Ether ETF proposal on May 10. They abandoned plans to invest a portion of the fund's assets through staking through third-party providers.#notícias