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Ark Invest, 21Shares Jump On The Ethereum Futures ETF Bandwagon

2 mins
Updated by Kyle Baird
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In Brief

  • Ark Invest and 21Shares are planning to launch an Ethereum Futures ETF, according to a recent filing with the SEC.
  • The application for the "ARK 21Shares Active Ethereum ETF" lists both Ark Invest and 21Shares as sub-advisors.
  • Six other companies, including Bitwise and VanEck, are also seeking approval for an Ether Futures ETF from the SEC.
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Ark Invest and 21Shares plan to team up and introduce an Ethereum Futures ETF, as indicated in a recent filing to the United States Securities and Exchange Commission (SEC).

For the past two years, both companies have been awaiting approval for their collaborative Bitcoin ETF.

Recent Rumors, A Potential Catalyst

An SEC filing on August 24 lists Ark Invest and 21Shares as sub-advisors for a joint Ethereum ETF product. However, an executive from 21Shares will be actively managing the fund’s day-to-day operations. The statement notes:

“Ophelia Snyder is a portfolio manager from 21Shares, who is responsible for discretionary investment decisions, security selection and portfolio weightings. Ms. Snyder has been primarily responsible for the day-to-day management of the Fund since its inception.”

The filing claims that Ethereum’s future value hinges on its widespread adoption, and any changes to this could affect its price.

“The slowing or stopping of the development or acceptance of the Ethereum network may adversely affect an investment in the Fund,” it states, as it asserts that, like other cryptocurrencies, Ethereum is a “relatively new and developing asset.”

Ethereum Price Chart 1 Month. Amid Rumors of SEC Approval of Ethereum Futures ETF. Source: BeInCrypto
Ethereum ETH Price Chart 1 Month. Source: BeInCrypto

This comes after reports that the SEC is looking to approve the launch of Ether-Futures ETFs by October. 

Six other companies are currently seeking approval for an Ether Futures ETF.

These include Ether Strategy ETF, Bitwise Ethereum Strategy ETF, Roundhill Ether Strategy ETF, VanEck’s Ethereum Strategy ETF, ProShares Short Ether Strategy ETF, and the Grayscale Ethereum Futures ETF.

To learn more about Ethereum gas fees, read BeInCrypto’s guide: When Are Ethereum Gas Fees Lowest?

Recent Setbacks for BTC ETFs

In 2021, Ark Invest and 21Shares initially sought Bitcoin ETF approval from the SEC. After an initial rejection, the two investment firms faced another setback from the SEC for the same product earlier this year.

Recent reports indicate that the delay could push a decision on the Bitcoin ETF into 2024.

Ark Invest CEO Cathie Wood has been actively commentating on the delayed approval of a spot Bitcoin ETF.

Recently, she stated that the SEC’s delay is aimed at approving several firms simultaneously for a spot Bitcoin ETF. “I think if the SEC is going to approve a Bitcoin ETF, it will approve more than one at once,” she declared.

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Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
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