ARK Invest and 21Shares Apply for Groundbreaking Ethereum Physical ETF in the United States

ARK Invest and 21Shares have taken a monumental step by applying for the United States' first Ethereum Physical ETF.

Find out how this groundbreaking initiative could change the landscape for Ethereum and cryptocurrency investments in the U.S., especially when you consider that ARK Invest has already submitted an application for a Bitcoin ETF.

First-of-its-kind Opportunity in the U.S. if Approved

ARK Invest, a U.S.-based asset management company, and 21Shares, a Swiss-based asset management firm, have revealed that they submitted a filing to the U.S.

Securities and Exchange Commission (SEC) for an Ethereum Physical ETF, named the "ARK 21Shares Ethereum ETF."

The "ARK 21Shares Ethereum ETF" is slated to be traded on the Cboe BZX Exchange and will have its underlying ETH assets stored by the cryptocurrency exchange, Coinbase.

ARK Invest has already filed for a physical Bitcoin ETF, known as the "ARK 21Shares Bitcoin ETF."

Interestingly, Coinbase is also in charge of storing the BTC assets for this Bitcoin ETF.

Eyes on Both Bitcoin and Ethereum ETFs

The U.S. market has seen multiple applications for physical Bitcoin ETFs, drawing significant attention to future developments.

Should this Ethereum Physical ETF be approved, it will represent the first instance of such an investment vehicle in the United States, thereby attracting even more focus on Ethereum ETF trends.

ARK Invest and 21Shares announced on August 24, 2023, that they have also applied for an "ARK 21Shares Active Ethereum Futures ETF" and an "ARK 21Shares Active Bitcoin Ethereum Strategy ETF."