21Shares Drops ARK Invest From Ethereum ETF in S-1 Amendment 3

May 31, 2024, 09:52 PM

21Shares has decided to proceed with its Ethereum ETF independently, removing ARK Invest from the document and name. ARK Invest will no longer be a partner for the proposed spot Ethereum fund. Despite this change, ARK remains a partner with 21Shares on Bitcoin and futures ETFs. The new S-1 filings, including S-1 Amendment 3, indicate that there will be no fees for the new ETFs, putting a hold on the fee war. ARK issued a statement affirming its belief in the long-term value of Ethereum but clarified that it will not advance the Ethereum ETF at this time.