ARK 21Shares has revised its application for a spot Ethereum exchange-traded fund by adopting a cash-creation model, similar to their approved spot Bitcoin ETF.
They also plan to stake some of the ETF’s Ether (ETH) to generate more income.
This change follows discussions with the US securities regulator and puts them in line with other spot Bitcoin ETFs.
As part of the cash-creation model, ARK 21Shares will purchase Ether equivalent to the order amount and deposit it with the custodian. This will result in shares of the Ether ETF being created.
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