Cathie Wood's Ark Investment Management has withdrawn from the race to launch a spot ether exchange-traded fund (ETF). Their names were removed from the application made through 21Shares. 21Shares has submitted an updated filing for its Ethereum spot ETF, rebranding the fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. Ark Invest has also terminated its partnership with 21Shares regarding this ETF. Despite acknowledging Ethereum's potential and long-term value, a representative from Ark Invest confirmed the decision not to move forward with the Ether ETF, citing the need to re-evaluate its investment strategy. This decision does not affect ongoing collaboration between 21Shares and ARK Invest on other projects. 📉#cryptonews#ETF