Ethereum

<ul>
 <li>Ark Invest and 21Shares submit the first application for an Ether-based ETF in the U.S.</li>
 <li>Ethereum's price sees a brief surge but returns to around $1,630 following the ETF application announcement.</li>
 <li>The SEC's decision on the ETF is highly anticipated, expected on or before mid-October.</li>
</ul>
In a groundbreaking move, asset management firms Ark Invest and 21Shares have submitted an <a href="https://www.sec.gov/Archives/edgar/data/1992508/000119312523229449/d450565ds1.htm" rel="noopener noreferrer nofollow">application</a> to the U.S. Securities and Exchange Commission (SEC) for the establishment of an Ether-based Exchange-Traded Fund (ETF). This marks the first attempt to list an ETF in the United States that would directly invest in Ether (ETH), the cryptocurrency with the second-largest market capitalization.
The proposed Ether ETF, dubbed the Ark 21Shares Ethereum ETF, plans to have its assets custodied by Coinbase Custody Trust Company. The SEC is expected to make a decision on or before mid-October.
Ophelia Snyder, co-founder of 21Shares, commented on the Ether ETF application, stating that Ethereum markets are becoming more established:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/5c2f680c8e65450a864d96f94327c9be.png">
Earlier this year, Cboe Global Markets also filed a <a href="https://cryptotale.org/ark-invest-and-21shares-forge-ahead-with-new-crypto-fund-proposals/" rel="noopener noreferrer nofollow">proposal</a> to list and trade shares of a spot Bitcoin ETF by Ark Invest and 21Shares on the Cboe BZX exchange. However, the SEC postponed its decision. The regulatory body has historically been cautious, rejecting numerous applications for spot Bitcoin ETFs due to concerns over trading surveillance and potential market manipulation.
Read full article at C<a href="https://cryptotale.org/ark-invest-and-21shares-make-historic-move-with-first-u-s-ether-etf/" rel="noopener noreferrer nofollow">ryptoTale.</a>

Ark Invest and 21Shares Make Historic Move with First U.S. Ether ETF

CryptoTale

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