Share this article
Ether Tops $2.4K as Cathie Wood's Ark, 21Shares Amend Spot ETH ETF Filing
The updated prospectus brings the spot Ethereum ETF application more "in line" with the recently approved spot BTC ETF prospectus, one analyst noted.
Updated Mar 8, 2024, 9:12 p.m. Published Feb 7, 2024, 6:07 p.m.
- Ether price jumped 2% above $2,400 after Ark Invest/21Shares amended their spot Ethereum ETF paperwork.
- The updates bring the ETF more "in line" with spot bitcoin ETFs that regulators approved last month, said Bloomberg Intelligence's Eric Balchunas.
Ethereum's native token ether jumped above $2,400 Wednesday afternoon to a two-week high as asset managers Ark Invest and 21Shares amended their joint spot ETH exchange-traded fund (ETF) filing.
The updated S-1 paperwork filed Wednesday with the U.S. Securities and Exchange Commission (SEC) shows that the ETF would feature a cash creation and redemption mechanism, which that regulatory agency favored for spot bitcoin ETFs that were approved in January.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"Looks like they updated to be only cash creations and some other things that bring it in line with the recently approved spot BTC ETF prospectus," Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, noted in an X post.
The document also added a section about possibly staking ether through "one or more trusted third party staking providers," opening the possibility for the fund to lock up some of its holdings and earn rewards.
ETH's price advanced nearly 2% within an hour from when the news appeared, breaking above $2,400 for the first time since January 22. The second-largest crypto by market cap was up 2.4% over the past 24 hours and outperformed the broader cryptocurrency market, with the CoinDesk 20 (CD20) index that tracks the largest digital assets being up 1.2% and BTC gaining 0.4%.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Robinhood Stock Slides 8% After Big Decline in November Trading Volumes
Slumps across equity, options and crypto trading in November raised concerns that retail investor momentum may be fading.
What to know:
- Robinhood reported a sharp drop in trading volumes across equities, options and crypto in November.
- The company's total platform assets also fell 5% month-over-month to $325 billion.
- The slowdown in trading activity raised investor concerns that retail engagement may be fading heading into year-end.
Top Stories
