๐ข 21Shares Drops Ark from ETH ETF: Key Updates
๐ On May 31, six companies updated their spot Ethereum ETF applications. Here's what changed:
1๏ธโฃ 21Shares Update:
21Shares renamed the โArk 21Shares Ethereum ETFโ to the โ21Shares Core Ethereum ETF.โ
Ark Invest is no longer mentioned as the subadvisor.
No comment from Ark Invest yet.
2๏ธโฃ Other Amendments:
Companies: Bitwise, Fidelity, Invesco Galaxy, VanEck, Franklin Templeton.
Franklin Templeton: Introduced a 0.19% sponsor fee.
Bloomberg analyst Eric Balchunas noted no "fee war" unlike with Bitcoin ETFs.
3๏ธโฃ General Changes:
No staking by companies involved.
Initial prohibition on in-kind creations/redemptions, but may change with future regulatory approval.
Some filings include initial seed sale proceeds and new ticker symbols.
๐ Earlier Amendments:
SEC's approval on May 23 advanced spot Ethereum ETFs.
BlackRock: Amended iShares fund on May 29, adding details like seed purchase amounts and sponsor fees.
Grayscale: Amended on May 30.
โณ Whatโs Next:
All companies met the SECโs end-of-month deadline.
SEC to comment on applications; further amendments may be required.
Launch expected by July 4.
Stay tuned for more crypto updates! ๐
๐ก Disclaimer: This post is for informational purposes only. Not financial advice. Always do your own research before investing.
