HomeÚltimas NoticiasNegocioFollowing SEC delays, ARK Invest and 21Shares file for spot Ether ETF

Following SEC delays, ARK Invest and 21Shares file for spot Ether ETF


Amid the United States Securities and Exchange Commission (SEC) delaying a decision on ARK Investment Management’s spot Bitcoin exchange-traded fund (ETF), the firm has proposed an investment vehicle with exposure to Ether.

In a Sept. 6 filing, ARK Invest and 21Shares requested the SEC approve the listing of shares of a spot Ether (ETH) ETF on the Cboe BZX Exchange. The investment vehicle, called the ARK 21Shares Ethereum ETF, will have crypto exchange Coinbase act as a custodian and will measure the performance of Ether based on the Chicago Mercantile Exchange CF Ether-Dollar Reference Rate.

The proposal from ARK Invest and 21Shares is one of many spot crypto ETFs that will be reviewed by the SEC. Following asset manager Grayscale winning an appeal requiring the SEC to reconsider allowing its Bitcoin Trust to be converted into a Bitcoin (BTC) ETF, many firms seem to be hopeful of regulatory approval.

On Aug. 31, two days following the decision on Grayscale’s ETF, the SEC announced it would delay deciding whether to approve or deny spot Bitcoin ETF applications from seven firms, including BlackRock — the largest in the world. The spot Bitcoin ETF from ARK Invest and 21Shares was not included in the delay, as its next deadline for approval, denial or delay isn’t until Nov. 11.

Related: Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs

The current iteration of ARK Invest’s and 21Shares’ Bitcoin investment vehicle is the firms’ third attempt to launch a spot Bitcoin ETF since 2021. In August, the companies also proposed listings of two ETH futures ETFs — ETFs linked to crypto futures have had more success with the SEC following several approvals in 2021.

The price of ETH briefly surged following news of the ETF filing. According to data from Cointelegraph Markets Pro, the ETH price rose roughly 3% from $1,623 to $1,669 before returning to between $1,620 and $1,640.

Magazine: SEC delays BTC ETF decision, Grayscale triumphs over SEC and BitBoy gets the boot: Hodler’s Digest, Aug. 27 – Sept. 2


Reciba noticias de Vimilin desde Google news


Please enter your comment!
Please enter your name here


BTC price shows ‘textbook’ Wyckoff moves as Bitcoin bulls defend $25K

Bitcoin (BTC) consolidated higher on Sept. 15 as analysis described recent BTC price behavior as “textbook.”Collect this article as an NFT to preserve this moment...

Magic Eden integrates Solana’s compressed NFTs into marketplace

Nonfungible token (NFT) marketplace Magic Eden has announced that it will support Solana’s compressed NFTs (cNFTs) to provide a cost-efficient and scalable alternative to owning...

House Democrats back Biden candidacy as calls for president to drop out intensify on the left

FIRST ON FOX: House Democrats appear to be behind another Biden-Harris ticket, even as President Biden is being discouraged against running by some on the...

3 Standout Stocks to Buy as Worse-Than-Expected CPI Numbers Revive Inflation Fears

The August CPI report showed headline annual inflation rising 3.7% compared to the 3.2% reading seen in July and a 3.0% increase in June. As inflation...

Más popular