According to BlockBeats, Eric Balchunas, senior ETF analyst at Bloomberg, said that ARK has just applied for a spot Ethereum ETF, which is the first one and there may be more soon. According to Blockworks, Ark Invest and 21Shares plan to launch their own spot Ethereum products to the market. The Ark 21Shares Ethereum ETF application submitted by the two companies represents the first attempt at such a product in the US market. Unlike the recently proposed futures Ethereum ETF, the new products planned by Ark Invest and 21Shares will directly hold Ethereum.