📉 ARK Invest gives up ETF on Ethereum, looks for alternative paths! 🚀
🔹 Following the approval of Ethereum ETF listings on May 23, Cathie Wood's ARK Invest is suspending its Ethereum ETF plans as it explores better opportunities for investors.
🔸 “We will not be moving forward with plans for an Ethereum ETF at this time,” says an ARK spokesperson. The company will look for effective ways to provide investors with exposure to this innovative technology.
🔄 21Shares updates Form S-1 of its Ethereum product, not to mention ARK Invest as a partner. ETF name changed to "21Shares Core Ethereum ETF".
💡 ARK remains committed to its Bitcoin ETF, continuing its partnership with 21Shares on the ARK 21Shares Bitcoin ETF, which debuted in January.
📊 The SEC's positive response to Bitcoin ETFs in January initiated the cooperation, but ARK is postponing plans for Ethereum for now.
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https://cryptobriefing.com/ark-invest-opt-out-ethereum-etf/