Summary
Ark 21Shares has made amendments to its S-1 filing for its spot ether exchange-traded fund (ETF). The changes include adding a section on potential staking, indicating that the issuer wants to discuss this with the Securities and Exchange Commission (SEC). The language added states that the ETF may stake a portion of its assets through trusted third party staking providers, receiving staking rewards in return. Staking activities come with risks, including the loss of ether tokens and liquidity risks. The addition of staking language in the filing marks a potential milestone for the intersection of traditional finance and digital assets. The SEC is set to decide on spot ether ETFs in May, with predictions of a 60% chance of approval.
Key Points
1. Ark 21Shares amended the S-1 for their spot ether ETF, making changes that include adding a section on potential staking and similar language to its bitcoin ETF around cash creation.
2. The language around staking was added in brackets, indicating that the issuer wants to include it but expects the Securities and Exchange Commission to have a conversation about it.
3. The new language does not appear in earlier S-1s submitted by Ark 21Shares or other hopefuls like BlackRock.