21Shares Flies Solo on ETH ETF Filing, Drops Ark
CryptoNewsTerminal Staff31 May, 2024
21Shares Flies Solo on ETH ETF Filing, Drops Ark
21Shares has decided to proceed with its Ethereum ETF filing independently, removing Ark Invest as a co-filer. This development was revealed in updated S-1 filing exhibits, as noted by Bloomberg ETF analyst Eric Balchunas on Twitter. 21Shares' decision to go solo on the ETF filing is a significant move, indicating the company's confidence in its ability to navigate the regulatory process and bring the product to market. The removal of Ark Invest as a co-filer may suggest a difference in strategic vision or approach between the two companies. The Ethereum ETF market is highly competitive, with several other providers also seeking approval for their products. 21Shares' solo filing could give it an edge by streamlining the approval process and allowing it to respond more nimbly to market conditions. Investors will be closely watching the progress of 21Shares' Ethereum ETF filing, as it has the potential to provide a convenient and regulated way to gain exposure to the second-largest cryptocurrency by market capitalization. The ETF's approval could also boost the overall credibility and legitimacy of the cryptocurrency market.
