Ark Invest and 21Shares Plan to Introduce Ethereum Futures ETF
Ark Invest and 21Shares have filed with the SEC to introduce an Ethereum Futures ETF, following their previous attempts to gain approval for a Bitcoin ETF. The filing lists Ophelia Snyder from 21Shares as the portfolio manager responsible for the day-to-day management of the fund. The filing highlights the importance of Ethereum’s widespread adoption and warns that any changes to its development or acceptance could impact its price.
Rumors of Ether-Futures ETF Approval
The SEC is reportedly considering approving Ether-Futures ETFs by October. Six other companies are also seeking approval for an Ether Futures ETF, including Bitwise, VanEck, and Grayscale. These developments come after Ark Invest and 21Shares faced setbacks in their attempts to gain approval for a Bitcoin ETF earlier this year. The SEC’s delay may be a strategy to approve multiple firms simultaneously.
Hot Take
The collaboration between Ark Invest and 21Shares to introduce an Ethereum Futures ETF is an exciting development for the crypto market. With the potential approval of Ether-Futures ETFs by the SEC, there is growing interest and anticipation among investors. The widespread adoption of Ethereum and the increasing recognition of cryptocurrencies as assets demonstrate the evolving nature of the financial industry.
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