Ark Invest Still Believes in Ethereum's Future

Ark Invest Still Believes in Ethereum's Future

Ark Invest, the investment firm led by Cathie Wood, has announced that it will not be pursuing an Ethereum ETF at this time. This decision comes after 21Shares, which had been working with Ark Invest on a joint ETH spot ETF application, changed the filing to be a solo effort. Despite this setback, Ark Invest remains bullish on Ethereum's long-term prospects. "We believe in the transformative potential and long-term value of Ethereum, but have decided not to pursue an ETH ETF at this time. We will continue to provide exposure to investors in a manner that we believe is in their best interest," said Ark Invest in a statement. Ark Invest's decision not to pursue an ETH ETF is likely due to the current regulatory landscape. The SEC has yet to approve any spot Bitcoin ETFs, and it is unclear when or if it will approve an ETH ETF. Despite the regulatory uncertainty, Ark Invest remains confident in Ethereum's future. The firm believes that Ethereum has the potential to become a major platform for decentralized finance and other applications. "We continue to believe that Ethereum is a transformative technology with the potential to revolutionize a wide range of industries," said Ark Invest. "We are excited about the future of Ethereum and look forward to continuing to invest in its growth."