Asset managers Ark Invest and 21Shares have applied with the US Securities and Exchange Commission (SEC) for a fund called Ark 21Shares Ethereum ETF, which is the first attempt to launch a spot Ethereum ETF, according to a filing on Wednesday.
Ark 21Shares Ethereum ETF would provide direct exposure to Ethereum and would not invest in derivatives. The fund would custody the assets with Coinbase Custody Trust Company, and be traded on the Cboe BZX Exchange.
Previously, Ark Invest and 21Shares, and some other asset management companies, had filed for spot Bitcoin ETFs, but the SEC has delayed decisions for the applications. Meanwhile, the SEC is expected to decide the approval of the first Ethereum futures ETF in October.
To learn more about spot Bitcoin ETFs, please visit: Journey to Spot Bitcoin ETFs
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