According to the latest revised S-1 registration statement, Ark 21Shares Ether ETF will be renamed as 21Shares Core Ether ETF. This means that ARK Invest will abandon its collaboration with 21Shares in launching the Ether spot ETF. A spokesperson from 21Shares confirmed this change, stating that, “However, 21Shares and ARK Invest will continue to collaborate on the ARK 21Shares Bitcoin ETF launched in January as well as other existing futures products.” On the other hand, a spokesperson from ARK Invest stated that, “Regarding ARK Invest’s decision to abandon the Ether spot ETF, some in the community speculate that it may be due to a lack of confidence in the approval of the Ether spot ETF or the market attractiveness of Ether. However, Bloomberg analyst Eric Balchunas believes that the more likely reason is the potential low fee revenue under the split between the two companies. Additionally, ARK’s core business is actively managed, and 21Shares has already expanded its own brand in the United States, so there is no need for both parties to collaborate on the Ether ETF issuance.”
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