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 <h2 id="b-ether-futures-vs-spot-ether-b"><b>Ether Futures vs. Spot Ether</b></h2> 
 <p><span style="font-weight: 400;">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.</span></p>  
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  <p><span style="font-weight: 400;">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.</span></p> 
 </blockquote> 
 <p><span style="font-weight: 400;">Additionally, regulators in countries like Canada have been increasingly crypto-friendly. Canada became the first country to approve a spot <a rel="noopener noreferrer nofollow" title="Ether ETF" href="https://thebittimes.com/tag/ether-etf.html">Ether ETF</a> in April 2021, only a few months after </span><span style="font-weight: 400;">green-lighting</span><span style="font-weight: 400;"> 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.</span></p> 
 <h2 id="b-forward-looking-strategies-b"><b>Forward-Looking Strategies</b></h2> 
 <p><span style="font-weight: 400;">Besides their recent Ether futures proposals, ARK Invest, led by asset manager </span><span style="font-weight: 400;">Cathie Wood</span><span style="font-weight: 400;">, initially partnered with Swiss ETP issuer </span><span style="font-weight: 400;">21Shares</span><span style="font-weight: 400;"> to launch a spot Bitcoin ETF in 2021.&nbsp;</span></p>  
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 <p><span style="font-weight: 400;">Although the SEC rejected those efforts, both companies re-filed for a spot Bitcoin product this April. They have also shared plans for two funds involving Ether futures contracts and are listed as sub-advisers on three proposed crypto funds involving Bitcoin futures contracts.</span></p> 
 <p><span style="font-weight: 400;">The recent ARK Invest and 21Shares bid for a spot in <a rel="noopener noreferrer nofollow" title="Ether ETF" href="https://thebittimes.com/tag/ether-etf.html">Ether ETF</a> signals a landmark moment for cryptocurrency investment options. As the SEC’s stance appears to be softening, the timing for introducing such groundbreaking products has never been more apt.</span></p> 
 <h2 id="b-the-sec-s-shifting-stance-b"><b>The SEC’s Shifting Stance</b></h2> 
 <p><span style="font-weight: 400;">Significantly, this development comes when the SEC appears to be on the back foot, particularly after losing a </span><span style="font-weight: 400;">court case</span><span style="font-weight: 400;"> to Grayscale Investments last month. The DC Circuit Court of Appeals judged the SEC’s approach in allowing Bitcoin futures but not converting Grayscale’s Bitcoin Trust to an ETF as “arbitrary and capricious.”&nbsp;</span></p> 
 <blockquote> 
  <p><span style="font-weight: 400;">Hence, industry analysts have increased the </span><span style="font-weight: 400;">likelihood</span><span style="font-weight: 400;"> of a U.S. spot Bitcoin ETF approval by the end of this year to 75%.</span></p> 
 </blockquote> 
 <p><span style="font-weight: 400;">Additionally, the timing seems especially apt as other jurisdictions like Canada have already approved similar crypto products. Canada launched its spot <a rel="noopener noreferrer nofollow" title="Ether ETF" href="https://thebittimes.com/tag/ether-etf.html">Ether ETF</a> in April 2021, just a couple of months after giving the green light to spot Bitcoin ETFs. This trend shows that regulatory bodies outside the U.S. are already warming up to such crypto assets.</span></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ark-files-for-the-first-spot-ether-etf-tbt61797.html">https://thebittimes.com/ark-files-for-the-first-spot-ether-etf-tbt61797.html</a></p>

Ark Files for the First Spot Ether ETF

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