ARK Invest has decided to discontinue its partnership with 21Shares for a proposed spot Ethereum fund, as revealed in an amended registration statement filed late Friday.

The previously named "Ark 21Shares Ethereum ETF" has been rebranded as the "21Shares Core Ethereum ETF" in the newly amended Form S-1. A spokesperson for 21Shares confirmed this change in an email statement to The Block, clarifying that ARK Invest will no longer be involved as a partner in this ETF venture.

"While the filing details indicate that ARK Invest will not be serving as a partner for this ETF, we remain enthusiastic about the SEC’s recent 19b-4 approval and are committed to increasing access to crypto as an asset class for U.S. investors," the 21Shares spokesperson affirmed.

Despite the dissolution of their partnership in the Ethereum ETF project, 21Shares and ARK Invest will continue their collaboration on the ARK 21Shares Bitcoin ETF, which was launched in January, along with other existing futures products.

In response to queries, a spokesperson for ARK Invest stated that the company would not be pursuing an Ethereum ETF at this time, emphasizing its continued commitment to the ARK 21Shares Bitcoin ETF.

"While ARK recognizes the transformative potential and long-term value of the Ethereum blockchain, we have decided not to proceed with an Ethereum ETF at this time," the ARK spokesperson explained. "We remain dedicated to exploring efficient avenues to provide our investors with exposure to this innovative technology in a manner that fully capitalizes on its benefits."

Last week, the U.S. Securities and Exchange Commission (SEC) approved 19b-4 forms for eight Ethereum ETFs, marking a significant milestone for the cryptocurrency industry. However, issuers are still awaiting the effectiveness of their S-1 statements before commencing trading activities.

On Friday, issuers Franklin Templeton, VanEck, and Invesco Galaxy took steps forward by filing their amended S-1 forms, signaling progress in their pursuit of Ethereum ETF offerings.