No, there is only one Ark of the Covenant, which is kept in the Church of St Mary of Zion in Aksum, Ethiopia. All the other Arks are symbols of this one Ark, which itself is a symbol of the Divine Presence.

Fear is not a word I would use myself. I would start with awe, reverence. The idea of the Priest being the only one allowed to see the Ark dates from the time God chose the tribe of Levi as the priestly tribe. And the reason one tribe was chosen was to relieve the rest of Israel from the religious duties- otherwise there would be no farmers, builders, merchants etc.