spot_imgspot_imgspot_img

Ark Invest and 21Shares Advance with Bold Ether ETF Proposal Amid SEC Scrutiny

  • Ark Invest collaborates with 21Shares to propose a groundbreaking Ether ETF amidst ongoing SEC reviews on similar Bitcoin initiatives.
  • The new investment venture, ARK 21Shares Ethereum ETF, has enlisted Coinbase as the custodian, utilizing the CME CF Ether-Dollar Reference Rate for performance measurement.
  • The proposal joins a series of spot crypto ETFs awaiting the green light from the SEC, fueling anticipation and speculation in the investment community.
- Advertisement -spot_img

In the backdrop of SEC delays on Bitcoin ETF decisions, Ark Invest and 21Shares intensify the marketplace buzz with their latest proposal for an Ether ETF, potentially setting a precedent for the cryptocurrency investment sector.

Ark Invest and 21Shares Forge Ahead with New Ether ETF Proposal

In a proactive move signaling confidence in the cryptocurrency market, Ark Invest and 21Shares have filed a request with the SEC for the approval of their new investment venture, a spot Ether ETF. Detailed in a filing on September 6, the ARK 21Shares Ethereum ETF aims to offer investors exposure to Ether, with the well-established crypto exchange Coinbase assigned as the custodian. The fund intends to track Ether’s performance based on the Chicago Mercantile Exchange’s CF Ether-Dollar Reference Rate.

The SEC’s Ongoing Evaluation of Crypto ETF Proposals

The United States Securities and Exchange Commission (SEC) finds itself at the center of increased activity surrounding cryptocurrency ETF proposals. In recent times, the SEC has delayed decisions on several Bitcoin ETF applications from various firms, including a notable case involving Grayscale’s attempt to convert its Bitcoin Trust into a BTC ETF. The proposition from Ark Invest and 21Shares joins the ranks of multiple spot crypto ETFs currently under SEC review, exemplifying the fervent interest and hope for regulatory approval within the industry.

Anticipation Builds as SEC’s Next Decision Deadline Nears

As the investment community keenly anticipates the SEC’s next move, the regulatory body recently postponed decisions regarding the approval or denial of Bitcoin ETF applications from seven different firms, including industry giant BlackRock. Interestingly, the proposal for the spot Bitcoin ETF from Ark Invest and 21Shares was exempt from this delay, with the next decision deadline slated for November 11. This development has sparked heightened anticipation and speculation on the possible outcomes and the potential ramifications for the broader cryptocurrency investment landscape.

Conclusion

The collaborative venture between Ark Invest and 21Shares represents a significant milestone in the ongoing evolution of cryptocurrency investment products. As they pave the way with their ambitious Ether ETF proposal, the eyes of the industry are fixed on the SEC’s forthcoming decisions. The outcome could either propel the cryptocurrency market to new heights or serve as a reflective pause in the burgeoning sector. Regardless of the result, the move marks a pivotal moment in the integration of cryptocurrencies into mainstream investment avenues, fostering growth and innovation in the financial space.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Suggested Exchange

spot_imgspot_imgspot_imgspot_img

Latest News

Ethereum Futures ETFs Debut Amid SEC Speculation on Bitcoin Fund Approval

With Ether ETFs entering the market, all eyes turn to the SEC's next moves on Bitcoin funds. The expansion of cryptocurrency-related ETFs suggests a shift in the financial ecosystem, catering more towards digital assets.

BREAKING: Japanese Automotive Giant Honda to Accept Bitcoin and Ethereum!

The news that Japanese automotive giant Honda will accept Bitcoin and Ethereum as payment methods is making waves in the market!

Last Week Saw Inflows into Crypto Funds Led by Bitcoin!

According to a new report by CoinShares, Bitcoin led inflows into digital asset investment products last week, while ETH was the least favored altcoin.

BREAKING: Grayscale Applies for a Spot Ethereum ETF! All the Details!

Grayscale Investments, the world's largest crypto asset manager, has taken steps to convert its Ethereum Trust fund into a spot Ethereum ETF!

Can Bitcoin Reach $145,000? Renowned Analyst Explains!

The famous analyst made predictions about the future by examining historical data in Bitcoin: how much can BTC rise in 2025?

PRO Analysis

Ethereum Maintains Above $1700! What’s Next? Current ETH Price Analysis!

Ethereum successfully held above the critical $1700 resistance: What's the next resistance level for ETH? Current ETH analysis!

October 2nd Bitcoin Price Analysis: What Is the Next Price Target for BTC?

Bitcoin began the first week of October with an uptrend: What will be Bitcoin's next target? Current support and resistance levels for BTC!

October 1st Current Polygon (MATIC) Price Analysis: Is MATIC Coin Starting an Upside Rally?

Polygon (MATIC) has surged in the last 24 hours by breaking an important resistance level: Will MATIC coin continue its upward movement?

October 1st Chainlink (LINK) Price Analysis: If LINK Coin Can’t Hold This Support, the Upside Movement Could End!

Chainlink (LINK) appears to be close to breaking the recent uptrend: if this support doesn't hold, LINK coin could fall further!

OGN Failed to Hold Above Critical Resistance! What’s Next? Current OGN Coin Analysis!

Origin Protocol (OGN) has shown an increase of more than 20% in the last 24 hours and has attracted attention: it needs to overcome this resistance to continue rising!
spot_imgspot_imgspot_imgspot_img
Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
spot_imgspot_imgspot_imgspot_img

Ethereum Futures ETFs Debut Amid SEC Speculation on Bitcoin Fund Approval

With Ether ETFs entering the market, all eyes turn to the SEC's next moves on Bitcoin funds. The expansion of cryptocurrency-related ETFs suggests a shift in the financial ecosystem, catering more towards digital assets.

BREAKING: Japanese Automotive Giant Honda to Accept Bitcoin and Ethereum!

The news that Japanese automotive giant Honda will accept Bitcoin and Ethereum as payment methods is making waves in the market!

Last Week Saw Inflows into Crypto Funds Led by Bitcoin!

According to a new report by CoinShares, Bitcoin led inflows into digital asset investment products last week, while ETH was the least favored altcoin.

LEAVE A REPLY

Please enter your comment!
Please enter your name here