ARK Invest no longer a partner with 21 Shares for proposed spot Ethereum fund

Quick Take
- In a newly amended Form S-1, previously named Ark 21Shares Ethereum ETF was changed to 21Shares Core Ethereum ETF.
- A spokesperson for 21Shares confirmed the change in an emailed statement to The Block.


ARK Invest will no longer be a partner with 21Shares for a proposed spot Ethereum fund, according to an amended registration statement filed late Friday.
In a newly amended Form S-1, previously named Ark 21Shares Ethereum ETF was changed to 21Shares Core Ethereum ETF. A spokesperson for 21Shares confirmed the change in an emailed statement to The Block.
"As the filing details, ARK Invest will not be serving as a partner for this ETF," the spokesperson said. "We are enthusiastic about the SEC’s recent 19b-4 approval and are committed to increasing access to crypto as an asset class for U.S. investors."
The spokesperson added that 21Shares and ARK will still work together on the ARK 21Shares Bitcoin ETF, which launched in January, along with other existing futures products.
In a statement, a spokesperson for ARK said it would "not be moving forward with an Ethereum ETF," but said it was still committed to the ARK 21Shares Bitcoin ETF.
"As for Ethereum, ARK believes in its transformative potential and the long-term value of the Ethereum blockchain but, at this time, ARK will not be moving forward with an Ethereum ETF," the ARK spokesperson said. "We will continue evaluating efficient ways to provide our investors with exposure to this innovative technology in a way that unlocks its full benefits."
The U.S. Securities and Exchange Commission approved 19b-4 forms for eight Ethereum ETFs last week. Issuers still need their S-1 statements to become effective before trading can begin.
On Friday, issuers Franklin Templeton, VanEck and Invesco Galaxy filed their amended S-1 forms.
Updated on May 31 at 10:45 p.m. UTC time to include a statement from ARK
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.