Bloomberg ETF analyst James Seyffart expects more spot Ethereum ETFs to be filed in the coming days.
The co-filing comes just a week after reports emerged that the SEC is likely to greenlight Ethereum ETF applications.
Bitcoin-related funds saw outflows of $13 million over the past week, reversing five weeks of bullish inflows, according to Coinshares analyst James Butterfill.
Galaxy Digital CEO Mike Novogratz was among those over the moon with the news, others warn it could be the start of a major institutional takeover.
ARK Invest purchased 269,928 shares in Coinbase on March 23, only two days after it sold $13.5 million, its first sale of Coinbase shares this year.
Cathie Wood was impressed that Bitcoin “moved in a very different way” compared to the equity market in response to the recent banking crisis.
Bitcoin's rebound in 2023 has also seen Coinbase stock gaining over 100% year-to-date, boosting Cathie Wood's ARK portfolio.