BREAKING: ARK Invest Has Applied for Spot Ethereum ETF
According to the latest information, ARK Invest has submitted its Ethereum Spot ETF application to the SEC.
ARK Invest has partnered with 21Shares, a leading ETF provider, to launch the spot Ethereum ETF.
The product, called ARK 21Shares Ethereum ETF, will attempt to track the performance of ETH, the native cryptocurrency of the Ethereum network, by measuring it against the CME CF Ether-Dollar Reference Rate – New York Variant, an index that aggregates the trade flow of major ETH spot exchanges.
The sub-advisor of the ETF will be ARK Invest, which will help market the shares.
ARK 21Shares Ethereum ETF will trade on the Cboe BZX Exchange under the symbol ARKE.
The ETF’s annual fee will be 0.95%, and this fee will cover the trust’s expenses and obligations. The ETF will not invest in derivatives or other non-ETH instruments.
A number of companies have recently submitted Ethereum Spot ETF applications to the SEC, and they are likely to be accepted.