Cathy Wood’s ARK Invest Files for First Spot Ether ETF

The Ark 21Shares Ethereum ETF is the first attempt to list such a fund in the U.S. that directly invests in ETH, the second largest cryptocurrency by market capitalization.

Ark Invest CEO Cathie Wood (Marco Bello/Getty Images, modified by CoinDesk)

Asset managers ARK Invest and 21Shares have applied for regulatory approval for an exchange-traded fund (ETF) that would directly hold ether (ETH), according to a Wednesday filing to the U.S. Securities and Exchange Commission (SEC).

The Ark 21Shares Ethereum ETF is the first attempt to list such a fund in the U.S. that directly invests in ETH, the second largest cryptocurrency by market capitalization.

Valkyrie Refiles for Spot Bitcoin ETF, Naming Coinbase as…

SEC Issues First Enforcement Action Targeting…

Nigeria Changing Its eNAIRA Model To Promote…

PEPE Loses Nearly 80% of Its Value Since Peak in May

The fund would custody the assets with Coinbase (COIN) Custody Trust Company.

The news initially sent ether and bitcoin higher, but the rally proved short-lived and both cryptos have returned to prices seen ahead of the filing.

The filing follows a slew of applications for a much-coveted spot bitcoin ETF, including a joint attempt from Ark and 21Shares. The SEC last week delayed decision on all of those applications.

Recommended for you:

• Musk’s Milady Meme, Opening Up Ordinals
• How the Top 1% Covers Crypto
• Bitcoin Plumbs 6-Month Low Near $25K and Higher Oil Prices Suggest Further Pressure

The filing also comes ahead of what’s expected to be SEC approval of the first futures-based ether ETF. A decision from the SEC is expected on or before mid-October.