Ark Invest Files For New Ethereum ETF With 21Shares
Portfolio Pulse from Murtuza Merchant
Ark Invest, in collaboration with 21Shares, has submitted a proposal to the SEC for an Ethereum-based ETF named ARK 21Shares Ethereum ETF. The ETF aims to offer investors direct access to Ethereum and will be listed on the Cboe BZX Exchange. The SEC's approval for this ETF is still pending.
September 06, 2023 | 10:25 pm
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POSITIVE IMPACT
Ark Invest's proposed Ethereum-based ETF could attract more investors to the fund, potentially boosting its performance.
The proposed ETF could attract more investors interested in gaining exposure to Ethereum without the need to directly purchase, hold, and trade the cryptocurrency. This could increase the assets under management for Ark Invest, potentially boosting the performance of its funds.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The proposed ETF could increase demand for Ethereum, potentially driving up its price.
The proposed ETF could increase demand for Ethereum as it offers investors a more convenient way to gain exposure to the cryptocurrency. This increased demand could potentially drive up the price of Ethereum.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100