ARK Invest and 21Shares File Application to Launch an Ethereum ETF
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ARK Invest and 21Shares have just filed an application with the SEC to launch a spot Ethereum ETF.

If approved by the regulator, the ARK 21Shares Ethereum ETF will allow investors to take risk directly on ETH price fluctuations with an instrument listed on CBOE BZX.

According to the document, Coinbase Custody Trust Company will act as custodian of the ETF.

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Bank of New York Mellon will act as administrator and transfer agent.

The document states:

"The Trust will not invest in derivatives. The Sponsor believes that the Shares are designed to provide investors with a cost-effective and convenient way to invest in ether without purchasing, holding and trading ether directly."

CBOE BZX has referenced the court's ruling in the Grayscale vs. SEC case in its proposal:

"The Court concluded this conflict by finding the Commission failed to provide a clear explanation as to why it approved the Bitcoin futures ETF and rejected the proposal to list and trade GBTC."

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