ProShares’ Post

ARK Invest and 21Shares have revised their spot Ether ETF proposal, removing the plan to stake a portion of the fund’s assets. In the updated May 10 filing, the clause about staking through third-party providers, previously included in the February 7 filing, was eliminated. The original proposal anticipated receiving ETH as staking rewards and classifying them as fund income. Bloomberg analyst Eric Balchunas suggests this change may address potential SEC feedback or be a strategic move to limit grounds for rejection. The ETF aims to provide direct exposure to Ether and will trade on the Cboe BZX Exchange, using the CME CF Ether-Dollar Reference Rate. The SEC’s decision on ARK and 21Shares’ application is expected by May 24, amidst recent delays in other spot Ethereum ETF decisions.

ARK Invest and 21Shares have revised their spot Ether ETF proposal, removing the plan to stake a portion of the fund’s assets. In the updated May 10 filing, the clause about staking through third-party providers, previously included in the February 7 filing, was eliminated. The original proposal anticipated receiving ETH as staking rewards and classifying them as fund income. Bloomberg analyst Eric Balchunas suggests this change may address potential SEC feedback or be a strategic move to limit grounds for rejection. The ETF aims to provide direct exposure to Ether and will trade on the Cboe BZX Exchange, using the CME CF Ether-Dollar Reference Rate. The SEC’s decision on ARK and 21Shares’ application is expected by May 24, amidst recent delays in other spot Ethereum ETF decisions.

VanEck Files for Spot Ethereum ETF - VanEck files 8-A form for spot Ethereum ETF, moving closer to launch pending S-1 registration approval, as noted by Bloomberg analyst Eric Balchunas. VanEck has submitted its 8-A form in anticipation of the official sanction of the S-1 registration for spot Ethereum ETF products. This 8-A form is a component of the process that precedes […] https://lnkd.in/dhRWd_xF

📝 Analysis: "Even if the SEC initially approves the ETH spot ETF, further procedures may be delayed," says Nate Geraci, CEO of ETF Store. The 19b-4 must be approved first, and the S-1 could be processed slowly if participation is insufficient. The SEC must approve both for new ETFs. May 23rd is the deadline for the Van Eck Ethereum ETF, and May 24th for the 19b-4 approval of the Arc21 Shares Ethereum ETF. #BitcoinWorld

Issuers are exploring alternatives amid uncertainty surrounding spot ether ETFs. Volatility Shares, ProShares, and DeFiance Capital have filed for leveraged funds offering ETH exposure through futures contracts. Volatility Shares plans a 2x Ether Strategy ETF, ProShares introduces Ultra Ether ETF and UltraShort Ether ETF, aiming for double the daily performance or inverse of the Bloomberg Ethereum Index. Defiance's 2X Ether Strategy ETF targets twice the return of the CF Rolling CME Ether Futures Index. These filings come as expectations for spot ether ETF approval dwindle. Leveraged products may gain interest once spot ETFs gain traction, despite lukewarm demand for ether futures funds. #ETHETF #Ethereum

ARK Invest and 21Shares discussed the cash creation and redemption process in their latest Ethereum spot ETF filing, whereby authorized participants will only deliver cash to create shares and will only receive cash when redeeming shares. The updated document also mentions… https://t.co/DheqmsJ7c2

Many think that #ethereum will take centre stage in 2024. Spot ETH ETF filings in the US from BlackRock and ARK Investment Management LLC/ 21.co and increasing tokenization activity taking place on the Ethereum network all add credence to this thesis. At CF Benchmarks we have recently launched our CF ETH Staking Index series, giving the institutions all the tools required to replicate the staking reward, generating returns whilst minimize risks for investors: https://lnkd.in/eX4SBG6T

💼 Andrew Kang, co-founder of Mechanism Capital, suggests that the BTC spot ETF's consensus on its positive long-term impact may underestimate the potential for fund inflow through the ETF. Comparing it to the gold ETF, which has $120 billion in operating assets and an average commission rate of 0.6%, the estimated net present value (NPV) could range from $10 billion to $20 billion. Kang emphasizes that BTC spot ETF issuers will aggressively compete for these substantial fees, highlighting the significance of marketing costs this year over future investments. 💹🚀 #BTCEtfImpact 📊💰

Is an Ethereum ETF coming soon? In this video, we explore the perspective of Bitfinex's Head of Derivatives, Jag Kooner, on the critical factors influencing the approval of an Ethereum ETF. Check it here - https://lnkd.in/d77em4kD