ETH - Cathie Wood's Ark Investment Drops Plans For Spot-Ether ETF Says It Will Focus On Spot Bitcoin ETF Instead | Benzinga
Cathie Wood’s Ark Investment Management has withdrawn from the race to launch an ETF directly investing in Ether (CRYPTO: ETH).
What Happened: The firm's name was removed from an application for a spot-Ether ETF filed in collaboration with 21Shares. According to a report by Bloomberg, the fund’s name was changed to 21Shares Core Ethereum ETF from Ark 21Shares Ethereum ETF.
An Ark spokesperson told the outlet, "At this time, ARK will not be moving forward with an Ethereum ETF.” The spokesperson added that Ark will continue exploring ways to expose investors to Ethereum technology.
Earlier this year, Ark and 21Shares successfully launched a spot Bitcoin ...