ARK Invest and 21Shares’ Proposed Spot Ethereum ETF Will Abandon Proof of Stake

The proposed Ethereum exchange-traded fund (ETF) by ARK Invest and 21Shares will not include proof of stake. Previous documents had mentioned the possibility of proof of stake, but the latest update on Friday removed that content. This move may indicate a strategy adjustment focused on SEC approval. Analysts have pointed out that the prospect of SEC approving a spot Ethereum ETF is no longer optimistic, with one analyst lowering the estimated approval chance from 70% to 25%. ARK Invest and 21Shares have not commented on this yet.