According to Wu, Bloomberg ETF analyst Eric Balchunas tweeted that ARK issued a statement about not conducting ETH spot business. ARK said that although it believes in Ethereum's transformative potential and long-term value, it will not promote the Ethereum ETF at present, and will continue to evaluate effective methods to provide investors with opportunities to access this innovative technology and fully unleash its advantages.

21Shares is currently working on a spot Ethereum ETF alone, and ARK has been removed from the filing and name, but they are still partners in the Bitcoin and futures ETFs.