Key Takeaways:
- Ark Invest and 21Shares seek regulatory approval for a spot Ethereum ETF, enhancing Ethereum’s standing in the crypto market.
- Ark Invest focuses on capturing innovation’s impact in equity markets, while 21Shares offers a wide range of crypto ETPs.
- Ethereum becomes the top trending asset in crypto as optimism grows, setting the stage for further anticipation in the ETF space.
In an exciting turn of events, Ark Invest and 21Shares have started their pursuit of regulatory approval for a spot in Ethereum ETF. This pursuit, as expected, has led to an improvement in Ethereum’s position in the crypto market. Let’s take a deeper look at what the hype is about;
The ARKInvest
The ARK platform is dedicated to providing investment strategies that capture the impact of groundbreaking innovation in public equity markets. The firm’s analysts are structured around cross-sector innovation themes to leverage the convergence of technology across various sectors. ARK adopts an open research methodology, integrating technology concepts and external insights into traditional financial research, fostering a transparent and interdisciplinary investment process.
21Shares
The platform provides the most extensive range of cryptocurrency exchange-traded products (ETPs) globally, enhancing accessibility to crypto investing. Back in 2018, the company introduced the world’s initial physically-backed crypto ETP. Today, it continues to remain committed to expanding its product lineup with cutting-edge research. The 21Shares aims to bridge the realms of traditional finance (TradFi) and decentralized finance (DeFi).
Spot Ethereum ETF
Given the notion of the two platforms and their interest, Ethereum’s popularity and optimism among traders have pushed it to become the top trending asset in crypto, marking a significant milestone since the last halving. The ETF has turned out to hold a unique approach to directly holding Ethereum (ETH), the second-largest cryptocurrency. Moreover, there will also be a custody arrangement with Coinbase Custody Trust Company, thereby ensuring security.
With the SEC’s recent decision to delay their verdict on various ETF applications, the stage is currently set for further anticipation.The pending SEC approval of the first futures-based ETH ETF is expected by mid-October, as it adds to the broader context of crypto ETFs. It is pivotal to note here, however, that there is potential for more crypto ETFs in the future, especially since Grayscale’s recent legal victory against the SEC.
Moreover, a spot Ethereum ETF is likely to be a top contender due to its market structure, aligning with the preferences of institutional investors. As an intense competition between ArkInvest and 21Shares developers, the crypto market stands in awe of what’s going to come.
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