{"id":84113,"date":"2023-09-07T10:40:15","date_gmt":"2023-09-07T07:40:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84113"},"modified":"2025-09-12T15:25:09","modified_gmt":"2025-09-12T12:25:09","slug":"ark-invest-and-21shares-file-for-spot-ethereum-etf","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ark-invest-and-21shares-file-for-spot-ethereum-etf\/","title":{"rendered":"ARK Invest and 21Shares file for spot Ethereum ETF"},"content":{"rendered":"<p>ARK Invest and 21Shares filed with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1992508\/000119312523229449\/d450565ds1.htm\"> proposal<\/a> to launch the spot Ethereum-<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>.<\/p>\n<p>ARK 21Shares Ethereum ETF, if approved, would give investors direct exposure to the price movements of the second-largest cryptocurrency, with the instrument listed on CBOE BZX.<\/p>\n<p>The fund&#8217;s custodian will be Coinbase Custody Trust Company. The exchange is also mentioned in the <a href=\"https:\/\/forklog.com\/en\/news\/cboe-mirrors-blackrock-elements-in-ark-invest-bitcoin-etf-filing\"> joint surveillance agreement <\/a> to prevent fraud and market manipulation.<\/p>\n<p>Bank of New York Mellon<a href=\"https:\/\/cdn.cboe.com\/resources\/regulation\/rule_filings\/pending\/2023\/SR-CboeBZX-2023-070.pdf\">will act<\/a> as administrator and transfer agent.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The trust will not invest in derivatives. The sponsor believes that the shares of the [ETF] will provide an economically efficient and convenient way to invest in Ethereum without direct purchase, ownership and trading of the asset<\/em>\u2014 the filing states.<\/p>\n<\/blockquote>\n<p>CBOE BZX, in the filing, cited <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-price-surpasses-27500-after-court-ruling-in-grayscales-favour\"> a court ruling <\/a> in the case <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-sues-sec-over-refusal-to-convert-gbtc-into-an-etf\"> Grayscale against the SEC<\/a>.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The court resolved this conflict, finding that the Commission failed to provide a clear explanation as to why it approved the Bitcoin futures ETF while denying the listing and trading of <span data-descr=\"Grayscale Bitcoin Trust\" class=\"old_tooltip\">GBTC<\/span>,<\/em> the filing states.<\/p>\n<\/blockquote>\n<p>On September 6, VanEck filed a similar filing for launching a spot Ethereum-based ETF.<\/p>\n<p>Earlier in August, ARK Invest and 21Shares <a href=\"https:\/\/forklog.com\/en\/news\/ark-invest-and-21shares-file-two-ethereum-futures-etfs\"> filed<\/a> a proposal with the SEC for two Ethereum futures ETFs.<\/p>\n<p>Later the SEC<a href=\"https:\/\/forklog.com\/en\/news\/sec-delays-decision-on-ark-invest-and-21shares-bitcoin-etf-filing\"> delayed the decision<\/a> on the firms&#8217; proposals to launch a spot Bitcoin ETF.<\/p>\n<p>Earlier, ARK Invest CEO Kathy Wood <a href=\"https:\/\/forklog.com\/en\/news\/cathie-wood-predicts-approval-of-several-bitcoin-etfs\"> forecasted<\/a> a favorable ruling on several applications.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ARK Invest and 21Shares filed with the SEC a proposal to launch a spot Ethereum ETF.<\/p>\n","protected":false},"author":1,"featured_media":84114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1372,1218,46,1211],"class_list":["post-84113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-21shares","tag-ark-invest","tag-ethereum","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84113"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84113\/revisions"}],"predecessor-version":[{"id":84115,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84113\/revisions\/84115"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84114"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}