Ark Files for the First Spot Ether ETF
Ether Futures vs. Spot Ether Unlike the numerous Ether futures ETFs filed for in July and August, this endeavor by ARK Invest and 21Shares plans to hold Ether directly. Currently, Ether boasts a market capitalization of approximately $195 billion, trailing only behind Bitcoin’s $500 billion cap. advertisement If approved, the fund will trade on the Cboe BZX Exchange. However, the filing did not disclose details like the ticker or fee structure of the planned ETF. Additionally, regulators in countries like Canada have been increasingly crypto-friendly. Canada became the first country to approve a spot Ether ETF in April 2021, only a few months after green-lighting spot Bitcoin ETFs. Hence, the ARK 21Shares Ethereum ETF filing is not merely a U.S. phenomenon but fits into a broader international trend toward crypto acceptance. Forward-Looking Strategies Besides their recent Ether futures proposals, ARK Invest, led by asset manager Cathie Wood , initially p...