Ark Invest And 21Shares Withdraw Staking Feature From Ethereum ETF Application.

Ark Invest And 21Shares Withdraw Staking Feature From Ethereum ETF Application.


Published Saturday 11th May 2024

Ark Invest and 21Shares have made the decision to remove the staking feature from their proposed Ethereum exchange-traded fund (ETF) application. This change comes after concerns were raised about the fund potentially being classified as a security by the Securities and Exchange Commission (SEC). By excluding staking, the companies aim to align the ETF proposal with SEC guidelines and regulations.

The decision to revise the spot Ethereum ETF proposal reflects a strategic move by ARK Invest and 21Shares to ensure compliance with regulatory requirements. Staking involves investors holding and earning rewards on cryptocurrency tokens, which could have implications on how the fund is classified. By removing this feature, the companies are proactively addressing potential concerns and working towards gaining approval for the ETF.

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