ARK Invest and 21 Shares cut staking component from latest spot Ethereum ETF filing
ArkInvest/21 Shares included a staking component in a previous filing, but that appeared to have been removed in an amended filing posted on Friday.
In a previous filing , ArkInvest/21 Shares included a staking component that said that the "sponsor may, from time to time, stake a portion of the Trust’s assets through one or more trusted Staking Providers." That specific language was not included in the updated filing on Friday.
The updated filing removing staking could mean a few things, said Bloomberg ETF analyst Eric Balchunas in a post on X on Friday.
"While it may seem like this is them getting their docs in shape based on SEC comments (which would be good news) there hasn’t been any comments," Balchunas said. "So its prob either a Hail Mary or maybe trying to give SEC one less thing to use in their rejection. Not sure (yet)."
ARK Invest and 21 Shares did not immediately respond to a request for comment.
Ark Invest and 21Shares applied for the spot ether ETF in September and said the fund would provide direct exposure to ether and trade on the Cboe BZX Exchange using the CME CF Ether-Dollar Reference Rate – New York Variant.
21Shares is the sponsor of the trust, Delaware Trust Company is the trustee, and Coinbase Custody Trust Company is the ether custodian. ARK Investment Management is the sub-adviser of the trust and will provide assistance in the marketing of the Shares.
Optimism for the SEC's approval of spot ether ETFs has dwindled over the past few months. Last month, Balchunas lowered his estimate of the chances of a spot Ethereum ETH -3.85% ETF approval by late May from about 70% to 25%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Altcoin NEAR Approaches Its First Major Weekly Decision Pivot at $4.7, Can NEAR Price Continue to Pump?
Meta: Can Muse Turn AI Into Its Next Profit Engine?
Meta goes all-in on personal Agent: Muse integrates with glasses, Mac, email, connecting shopping and work
Meta announced that Muse will become the strategic core of its all-scenario "personal super intelligence." Muse not only integrates upgraded smart glasses and the portable device Charm, but also expands functionalities such as Mac control and email agent. In addition, it collaborates with retail giants like Walmart to build a shopping ecosystem, aiming to monetize through transaction commissions, demonstrating its ambition to comprehensively cultivate consumer-grade AI.
Global Bond Sell-Off Spreads! Japan 10-Year Government Bond Yield Surges to Highest Level Since 1996
Japan's 10-year government bond yield surged to 3.075%, driven by threefold pressures: US Treasury sell-off, Bank of Japan’s signals towards interest rate hikes, and concerns over fiscal expansion. The yield on 5-year US Treasury bonds breaking above 5% acted as the catalyst, while Japan's plan to raise its defense budget to 3.5% of GDP further intensified market panic. Analysts warn that as the last global anchor of low interest rates begins to shake, yen carry trades face the risk of collapsing, potentially leading to increased market volatility.
Crypto prices
More
