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ARK Invest Drops Partnership with 21Shares for Proposed Ethereum Fund

Cathie Wood’s Ark Investment Management has withdrawn its involvement in the race to launch an exchange-traded fund (ETF) that would directly invest in Ether, the second-largest cryptocurrency. The amended prospectus document, known as Form S-1, filed with the US SEC on Friday, revealed that Ark’s name was removed from the application for the spot-Ether ETF that it had filed in partnership with 21Shares. The move comes after Ark joined forces with 21Shares as one of the successful issuers that launched spot-Bitcoin ETFs earlier this year. Despite the withdrawal from the Ethereum ETF, Ark remains committed to its Bitcoin ETF.

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