AssetCo's move to sell Rize ETF to Cathie Wood's ARK Invest highlights the challenges of thriving in the European ETF landscape, a realm controlled by a few giants. Rize ETF was established as an independent ETF issuer in early 2020, accompanied by high hopes. However, Europe has proven to be a difficult market for independent ETF issuers. Whether the entry of ARK Invest will reshuffle the cards in Europe remains to be seen.