21Shares and Cathie Wood’s ARK File for First US Spot-Ether ETF
- SEC hasn’t approved Ether or Bitcoin exchange-traded funds
- Expectations for approvals rise after Grayscale court ruling
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Crypto exchange-traded-products issuer 21Shares and Cathie Wood’s ARK Investment Management are seeking to offer the first US ETF that invests directly in Ether.
The firms are hoping to debut the ARK 21Shares Ethereum ETF, according to a Wednesday filing with the US Securities and Exchange Commission. Their application is the first of its kind and, if offered, would mark the first US exchange-traded fund that’s physically backed by the second-largest cryptocurrency after Bitcoin. The fund would trade under the ticker ARKE.