The proposed changes would bring ARK 21Shares’ spot Ether ETF application more in line with its recently approved spot Bitcoin ETF.
ARK 21Shares has amended its spot Ethereum exchange-traded fund application to adopt a cash-creation model — similar to its approved spot Bitcoin (BTC) ETF — and has also floated plans to stake a portion of the ETF’s Ether (ETH) to generate additional income.
In December, ARK 21Shares and BlackRock were among the first issuers to convert their spot Bitcoin ETFs to a cash creation and redemption model following back-and-forth meetings with the United States securities regulator.
ARK 21Shares initially proposed an in-kind redemption model for its Ether ETF too, which implies non-monetary payments such as BTC.
