According to Odaily, ARK Invest, led by Cathie Wood, has withdrawn its application for an Ethereum ETF, with no official reason provided for the withdrawal. Analysts believe that this withdrawal may be related to the recent fee competition in the ETF market. It is reported that ARK Invest has been pushing to launch an Ethereum ETF in the past few months. However, facing competitors who continuously lower fees to attract investors, ARK Invest may have reassessed its strategy.