21Shares has recently made changes to its proposed Ethereum spot ETF, now branded as the 21Shares Core Ethereum ETF in its updated application (S-1). In addition, its partnership with ARK Invest, previously involved in the fund, has been terminated.
Despite this, there are no changes to the fees listed in the updated S-1. While ARK Invest acknowledges the potential and value of Ethereum in the long-term, the firm has decided not to proceed with an Ether ETF, citing a need to review its investment strategy.
However, this decision does not impact their ongoing collaboration on other projects, such as the ARK 21Shares Bitcoin ETF that was launched in January.
With 21Shares as the sponsor and Delaware Trust Company as trustee, Coinbase Custody Trust Company holds the underlying assets while ARK Investment Management helps market the shares to investors.
