21Shares has submitted a revised application for its Ethereum spot ETF S-1, making significant changes to the fund's structure and partnerships. The most notable change is the removal of ARK Invest as a partner for this ETF, with the fund's name being changed from 'Ark 21Shares Ethereum ETF' to '21Shares Core Ethereum ETF'.

Despite this change, 21Shares has emphasized that the company will continue to collaborate with ARK Invest on the successful ARK 21Shares Bitcoin ETF launched in January, as well as other existing futures products. This ongoing partnership highlights the shared commitment between the two firms to providing investors with diverse investment options in the cryptocurrency market.

In a statement, a representative from ARK Invest expressed the firm's belief in the transformative potential and long-term value of Ethereum. However, for the time being, ARK will not be advancing an Ethereum ETF, focusing instead on exploring alternative ways to provide exposure to this innovative technology for investors.

21Shares, on the other hand, remains dedicated to expanding the opportunity for U.S. investors to include cryptocurrency as an asset class. The revised application for the Ethereum spot ETF reflects the company's commitment to adapting to the evolving regulatory landscape and providing investors with access to this rapidly growing market.

In conclusion, 21Shares' revised application for the Ethereum spot ETF, which includes the removal of ARK Invest as a partner, demonstrates the company's agility and responsiveness to market conditions. While the partnership with ARK Invest on other projects remains strong, 21Shares is forging ahead with its mission to offer investors innovative investment opportunities in the cryptocurrency space.