ARK Invest CEO Cathie Wood is withdrawing from the race to file for a spot Ethereum ETF, and experts believe this is due to fierce fee competition. Although ARK was the first company to apply to create a spot Ethereum ETF, it suddenly withdrew in the past week. ARK's early spot Bitcoin ETF charged a management fee of 0.21%, but this was obviously not enough to make a profit. Analysts believe that the low fee structure made the business decision more complicated. Franklin Templeton is the only company that discloses its fund fees, which are set at 0.19%. (CoinDesk)