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 The two firms currently have a spot Bitcoin exchange-traded fund being reviewed by the SEC, and recently proposed listings of two Ether futures ETFs. 
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 Amid the United States Securities and Exchange Commission (SEC) <a rel="noopener noreferrer nofollow" title="delay" href="https://thebittimes.com/tag/delay.html">delay</a>ing a decision on Ark Investment Management’s spot Bitcoin (BTC) exchange-traded fund, the firm has proposed an investment vehicle with exposure to Ether (ETH). 
 In a Sept. 6 filing, Ark Invest and 21Shares requested the SEC approve the listing of shares of a spot ETH ETF on the Cboe BZX Exchange. The investment vehicle, called the ARK 21Shares Ethereum ETF, will have crypto exchange Coinbase act as a custodian and measure the performance of Ether based on the Chicago Mercantile Exchange CF Ether-Dollar Reference Rate. 
 <blockquote class="twitter-tweet"> 
 BOOM: ARK just filed for a Spot Ether ETF, the first one.. prob more coming imminent pic.twitter.com/PjK5aSNPlS— Eric Balchunas (@EricBalchunas) September 6, 2023 
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 The proposal from Ark Invest and 21Shares is one of many spot crypto ETFs that will be reviewed by the SEC. Following asset manager Grayscale winning an appeal to have the SEC reconsider allowing the listing of its Bitcoin Trust converted into a BTC ETF, many firms seem to have been hopeful of regulatory approval. 
 On Aug. 31, two days following the decision on Grayscale’s ETF, the SEC announced it would <a rel="noopener noreferrer nofollow" title="delay" href="https://thebittimes.com/tag/delay.html">delay</a> deciding whether to approve or deny spot Bitcoin ETF applications from 7 firms including BlackRock — the largest in the world. The spot Bitcoin ETF from Ark Invest and 21Shares was not included in the <a rel="noopener noreferrer nofollow" title="delay" href="https://thebittimes.com/tag/delay.html">delay</a> as its next deadline on approval, denial, or <a rel="noopener noreferrer nofollow" title="delays" href="https://thebittimes.com/tag/delays.html">delays</a> isn’t until Nov. 11. 
 Related: Crypto market ‘dramatically underestimates’ bullishness of spot Bitcoin ETFs 
 The current iteration of Ark Invest’s and 21Shares’ Bitcoin investment vehicle is the firms’ third attempt to launch a spot Bitcoin ETF since 2021. In August, the companies also proposed listings of two ETH futures ETFs — ETFs linked to crypto futures have had more success with the SEC following several approvals in 2021. 
 The price of ETH briefly surged following news of the ETF filing. According to data from Cointelegraph Markets Pro, the ETH price rose roughly 3% from $1,623 to $1,669 before returning to between $1,620 and $1,640. 
 Magazine: SEC <a rel="noopener noreferrer nofollow" title="delays" href="https://thebittimes.com/tag/delays.html">delays</a> BTC ETF decision, Grayscale triumphs over SEC and BitBoy gets the boot: Hodler’s Digest, Aug. 27 – Sept. 2 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/following-sec-delays-ark-invest-and-21shares-file-for-spot-ether-etf-tbt61817.html">https://thebittimes.com/following-sec-delays-ark-invest-and-21shares-file-for-spot-ether-etf-tbt61817.html</a>

Following SEC delays, Ark Invest and 21Shares file for spot Ether ETF

TheBitTimes

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