The spot Ethereum ETF proposed by ARK Invest and 21Shares will abandon proof of stake

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Bitget2024/05/11 01:02

The proposal for a spot Ethereum exchange-traded fund (ETF) by ARK Invest and 21Shares will not include proof of stake. Previous documents mentioned the possibility of proof of stake, but this was removed in the latest update last Friday. This move may indicate a strategic shift focused on SEC approval. Analysts point out that the prospects for SEC approval of a spot Ethereum ETF are no longer optimistic, with one analyst reducing the estimated chance of approval from 70% to 25%. ARK Invest and 21Shares have not yet commented on this.

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