Cathie Wood’s Ark Investment Abandons Spot-Ether ETF Ambition

ETF name revised to drop ‘Ark’ in amended filing on Friday
Ark said it will remain ‘committed’ to its spot-Bitcoin ETF

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By Isabelle Lee

June 1, 2024 at 12:01 AM UTC

This article is for subscribers only.

Cathie Wood’s Ark Investment Management just dropped out of the Wall Street race to launch an ETF that invests directly in Ether, the second-largest cryptocurrency.

Ark’s name was removed from an application for a spot-Ether exchange-traded fund that the company had filed in partnership with 21Shares, according to an amended prospectus document known as an S-1 filed late Friday with the US Securities and Exchange Commission. The fund’s name was changed to 21Shares Core Ethereum ETF from Ark 21Shares Ethereum ETF.