Ethereum
Ark Invest withdraws Ethereum ETF; 21Shares to launch independently
Cathie Wood’s Ark Invest has just dropped a crypto bomb!
They abruptly withdrew from the race for a highly anticipated event. Ethereum ETF, leaving investors wondering what’s next. This decision is important, as it ends the partnership between Ark Invest and 21Shares for this particular ETF.
Renowned for its innovative and disruptive approach, Ark Invest is venturing into unexplored territory. Instead of diving into Ethereum ETFs, the company is moving toward providing investor exposure to Ethereum’s core technology through alternative investment avenues. These include Innovation Stock ETFs, Digital Asset Futures ETFs, and the ARK Venture Fund.
This demonstrates its commitment to leveraging its active management expertise.
Solo venture begins for 21Shares
Following the release of Ark Invest, 21Shares is expected to launch independently with the Ethereum ETF. Bloomberg analyst Eric Balchunas confirmed Ark Invest’s removal of all associated documentation and rebranding of the ETF, indicating autonomous management of the ETF by 21Shares.
However, both entities remain committed to their partnership, especially in projects involving Bitcoin and future ETFs, ensuring a stable alliance in the future.
The market is impatiently waiting
The crypto market is currently anticipating a potential launch of these ETFs, tentatively scheduled for July 4. However, it may take several weeks for trading to begin. This period of time will be important for investors and issuers to properly review regulatory developments.
Ark Invest’s decision to exit shows its focus on the ARK 21Shares Bitcoin ETF (ARKB), which is also a strategic priority and prospect in the crypto market. Therefore, the fluid and rapidly changing dynamics of the digital asset market continue to generate investment opportunities with industrial progress.
Also see: The main cryptocurrencies that will explode right after the launch of Spot Ethereum ETFs
Is Ark Invest Making a Brilliant Strategic Move or Missing the Ethereum Boom? Let us know your thoughts.