Following SEC Delays, ARK Invest and 21Shares Submit Application for Spot Ether ETF

The United States Securities and Exchange Commission (SEC) has postponed its decision regarding ARK Investment Management’s spot exchange-traded fund (ETF). In response, the firm has introduced a new investment vehicle that focuses on Ether.

On September 6, ARK Invest, in partnership with 21Shares, formally requested the SEC’s approval for the listing of a spot Ether (ETH) ETF on the Cboe BZX Exchange. This investment vehicle, named the ARK 21Shares ETF, will utilize Coinbase as its custodian and will track the performance of Ether according to the Chicago Mercantile Exchange CF Ether-Dollar Reference Rate.