Update on 21Shares Core Ethereum ETF and ARK Invest Collaborations - Additional Info

21Shares recently rebranded its ETF to 21Shares Core Ethereum ETF after ARK Invest's departure from the project. While ARK Invest stepped back from the Ether ETF, they maintain partnerships with 21Shares in the Bitcoin and Blockchain ETF endeavors.

The Securities and Exchange Commission (SEC) sanctioned eight Ethereum ETFs, contingent on the S-1 statement's operationalization.

21Shares modified its S-1 registration, altering the name of the Ethereum spot fund from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. The newest Form S-1 by 21Shares upholds the original fee structure, prioritizing direct Ether exposure devoid of staking rewards.

Ongoing Collaborations and Future Ventures

Despite the conclusion of their Ether ETF alliance, ARK Invest and 21Shares forge ahead with other initiatives. The ARK 21Shares Bitcoin ETF, unveiled earlier this year, stands out for its continual presence. Their joint project, the ARK 21Shares Blockchain and Digital Economy Innovation ETF, allocates funding to publicly traded blockchain enterprises, providing investors with insights into the industry's progression.

Historical Context and Projected Trajectory

The Ether ETF proposal by ARK Invest and 21Shares has been revamped to solely offer direct Ether exposure, marking a comprehensive review of their investment strategy. Initially proposed in September 2023 to deliver Ether exposure on the Cboe BZX Exchange, the fund application has been refined to align with current market expectations.

While the SEC endorsed 19b-4 forms for eight Ethereum ETFs, issuers await the effectiveness of their S-1 statements. 21Shares persists in advancing its revised application, ensuring sustained collaboration in various cryptocurrency and blockchain undertakings.