21Shares has recently updated its application for its Ethereum spot ETF, changing the fund's name from Ark 21Shares Ethereum ETF to 21Shares Core Ethereum ETF. This move also marks the end of their collaboration with ARK Invest concerning this specific ETF. However, this decision does not affect their ongoing joint ventures, such as the ARK 21Shares Bitcoin ETF, which was launched in January.

### Update on the Ethereum ETF

The updated Form S-1 for the Ethereum ETF has been filed without any changes to the fees. Despite recognizing Ethereum’s potential and long-term value, ARK Invest has decided not to move forward with an Ether ETF. This decision is based on the firm's need to reassess its investment strategy. This reassessment led to the termination of their involvement in the Ethereum ETF project with 21Shares.

### Ongoing Collaborations

Despite this change, the collaboration between 21Shares and ARK Invest continues on other projects. The ARK 21Shares Bitcoin ETF, which was introduced in January, remains unaffected by the recent developments. This ongoing partnership showcases the flexibility and adaptability of both firms as they continue to work together on other fronts.

In their previous collaborations, 21Shares sponsored the ETFs, while the Delaware Trust Company served as the trustee. Coinbase Custody Trust Company was responsible for securely holding the underlying Ether assets, and ARK Investment Management played a supporting role as a sub-adviser, focusing on marketing the shares to investors.

### Additional Collaborative Products

Beyond the Bitcoin and Ethereum futures, 21Shares and ARK Invest have launched another innovative product: the ARK 21Shares Blockchain and Digital Economy Innovation ETF. This ETF is designed to invest in public equities of companies operating within the blockchain industry. This new product reflects their commitment to fostering innovation and growth in the blockchain sector.

### ARK Invest's Strategy Shift

ARK Invest’s decision to step back from the Ethereum ETF is part of a broader strategy shift. By reassessing their investment focus, they aim to better align their offerings with their long-term goals. This strategic adjustment underscores the dynamic nature of investment management and the importance of adapting to market conditions and investor needs.

### Conclusion

In conclusion, the recent changes in the partnership between 21Shares and ARK Invest highlight the evolving landscape of the cryptocurrency and blockchain investment sectors. While ARK Invest has decided to end its involvement with the Ethereum ETF, their ongoing collaboration on other projects remains strong. The introduction of new products, such as the ARK 21Shares Blockchain and Digital Economy Innovation ETF, illustrates their continued commitment to innovation and growth within the industry. As both firms navigate these changes, their adaptability and focus on long-term goals will likely drive their future success.