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Share Facebook Twitter Reddit Pinterest Email Telegram The next step involves the SEC reviewing and providing feedback on the filings. Spot Ethereum exchange-traded funds (ETFs) have seen several developments this week following listing approval on May 23. The most remarkable is that Cathie Wood’s ARK Invest suspended its spot Ethereum ETF plans. An ARK spokesperson stated in an email that it would seek better investor opportunities. “At this time, ARK will not be moving forward with an Ethereum ETF,” the spokesperson stated. “We will continue evaluating efficient ways to provide our investors with exposure to this innovative technology in a way that unlocks its full benefits.” The comments follow 21Shares’s updated S-1 form for its Ethereum product, which no longer names ARK Invest as the ETF’s partner. The proposed ETF has also been changed from Ark “21Shares Ethereum ETF” to “21Shares Core Ethereum ETF.” ARK Invest cooperated with 21Shares in pursuing a regulatory nod to launch a spot Bitcoin fund. The two asset management firms expanded their partnership, applying to offer spot Ethereum ETF in September last year. At the time, the SEC’s decision on spot Bitcoin ETFs was still on hold. After getting the SEC’s approval in January, their spot Bitcoin ETF, ARK 21Shares Bitcoin ETF (ARKB), debuted trading on the CBOE on January 11. As of May 31, ARKB holds around $3.2 billion in Bitcoin (BTC). READWhat Is FINRA?While Ark shelves its Ethereum ETF plans for now, the company affirms its continued commitment to its Bitcoin ETF. “21Shares and ARK remain committed partners on the ARK 21Shares Bitcoin ETF, which launched in January, as well as on our existing lineup of futures products,” 21Shares confirmed in a statement. Spot Ethereum ETF filings: Weekly roundup This week’s highlight is the updated S-1 forms from ETF issuers. At press time, all eight issuers had submitted their required filings to the SEC. The S-1 amendment from VanEck was filed on the day of approval. BlackRock followed suit with an updated filing earlier this week. Other issuers also sent their amended filings by Friday, the due date set by the SEC. Hashdex’s proposed Ethereum ETF was withdrawn on May 24, one day after the SEC greenlit the other eight funds, except for Hashdex’s. Hashdex was also the only issuer without an amended 19b-4 filing ahead of the Ethereum ETF decision. Fidelity is the only issuer that discloses its management fee in its updated filing. Its planned fee is 0.19%. The next step involves the SEC reviewing and providing feedback on the filings. According to a source with knowledge of the situation, this process could entail at least two additional rounds of revisions to the S-1 documents.