Ethereum exceeds $2,400 — Ark and 21Shares amend spot ETF application | CoinDesk JAPAN

• Ethereum rose 2% to above $2,400 after Ark Invest and 21Shares amended the Ethereum spot exchange-traded fund (ETF) documentation.
• Eric Balchunas of Bloomberg Intelligence said the update brings the ETF more “in line” with the Bitcoin spot ETF that regulators approved last month.

Ethereum (ETH) changed on the afternoon of the 7th after asset management companies Ark Invest and 21Shares amended the declaration form for the Ethereum spot ETF (exchange traded fund). It exceeded $2,400 (approximately 360,000 yen, converted at 150 yen to the dollar). It reached a two-week high.

The latest S-1 filing with the U.S. Securities and Exchange Commission (SEC) shows that the ETF has cash generation and redemption mechanisms. The SEC supported this mechanism with a Bitcoin spot ETF approved in January.

Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, said on It appears that only the content has been updated.”

The document also adds a section on the possibility of staking Ethereum through “one or more trusted third-party staking providers,” allowing funds to lock up a portion of their holdings and earn rewards. Sexuality opened up.

Ethereum price rose nearly 2% within an hour after the news broke, topping $2,400 for the first time since January 22nd. It rose 2.4% in the past 24 hours, outpacing the CoinDesk 20’s 1.2% rise and Bitcoin’s 0.4% rise, which measures the overall crypto market performance.

｜Translation and editing: Rinan Hayashi
｜Image: CoinDesk
｜Original: Ether Tops $2.4K as Cathie Wood’s Ark, 21Shares Amend Spot ETH ETF Filing