21Shares drops Ark from ETH ETF as remaining applicants meet SEC deadline

21Shares made a notable update to its spot Ethereum ETF registration statement by dropping Ark Invest from its filing. The ETF is now named the “21Shares Core Ethereum ETF” and no longer mentions Ark Invest as the fund’s subadvisor. Other companies, including Bitwise, Fidelity, Invesco Galaxy, VanEck, and Franklin Templeton, also filed amendments to their registration statements. Franklin Templeton’s amendment included a 0.19% sponsor fee, making it the first issuer to list a percentage-based fee. The amended filings confirm that companies involved will not engage in staking and initially prohibit in-kind creations and redemptions, but allow for such transactions pending regulatory approval. The SEC’s approval of 19-b4 filings on May 23 brought spot Ethereum ETFs closer to launch, and experts predict a possible launch by the end of June. All prospective issuers have now met the SEC’s deadline, and the regulator will provide comments on the applications before the funds can be launched, expected to happen in a few weeks.