Cathie Wood’s Ark Invest Dumps Spot Ethereum ETF Project, 21Shares Goes Solo

Cathie Wood’s Ark Invest just dropped a crypto bombshell!

They’ve abruptly pulled out of the race for a highly anticipated Ethereum ETF, leaving investors wondering what’s next. This decision is significant, putting an end to Ark Invest and 21Shares’ partnership for this particular ETF.

Renowned for its innovative and disruptive approach, Ark Invest is venturing into unexplored territory. Instead of diving into Ethereum ETFs, it’s shifting towards offering investors exposure to Ethereum’s core technology through alternative investment avenues. These include innovation equity ETFs, digital asset futures ETFs, and the ARK Venture Fund.

This demonstrates its commitment to leveraging its active management expertise.

A Solo Venture Begins for 21Shares

In the wake of Ark Invest’s exit, 21Shares is set to venture forth independently with the Ethereum ETF. Bloomberg analyst Eric Balchunas has confirmed Ark Invest’s removal from all associated documentation and the ETF’s rebranding, indicating 21Shares’ autonomous management of the ETF.

However, both entities remain committed to their partnership, especially in ventures involving Bitcoin and future ETFs, ensuring a steady alliance going forward.

The Market is Waiting Eagerly

The crypto market is currently expecting a potential launch of these ETFs, tentatively scheduled for July 4. However, it may take quite a few weeks to begin trading. This span of time will be important for investors and issuers to scrutinize the evolving regulations properly. 

Ark Invest’s decision to withdraw points to its focus on the ARK 21Shares Bitcoin ETF (ARKB), which is also a strategic priority and outlook on the crypto market. Therefore, the fluid and rapidly modifying dynamics of the digital asset market continue to generate investment opportunities with industrial progress.

Also, check out: Top Cryptos That Will Explode Right After Spot Ethereum ETFs Launch

Is Ark Invest making a strategic genius move, or missing out on the Ethereum boom? Let us know your thoughts.