ARK Invest and 21Shares Collaborate to Launch Digital Asset ETF Suite
Investment management firm ARK Invest, led by pro-Bitcoin investment veteran Cathie Wood, has partnered with exchange-traded product (ETP) provider 21Shares to introduce a new suite of digital asset exchange-traded funds (ETFs). The goal of this collaboration is to offer a diverse range of options for investors looking to incorporate digital assets into their trading portfolios.
The ETF suite, called the ARK and 21Shares Digital Asset ETF Suite, combines insights from the crypto industry with traditional indicators to provide long-term capital appreciation. According to the prospectuses released by the companies, five products are set to begin trading in the coming week. These ETFs will be listed on the Chicago Board Options Exchange (CBOE).
It’s worth noting that the ETFs will invest in Bitcoin (BTC) and Ether (ETH) futures contracts, utilizing on-chain signals and the companies’ crypto-native expertise. However, the ETFs will not offer direct investment in spot BTC. Investors seeking exposure to the price of BTC are advised to explore other investment avenues.
One notable product within the suite is the ARK 21Shares Blockchain and Digital Economy Innovation ETF, which focuses on investing in public equities of companies operating in the blockchain industry. This ETF aims to provide investors with a holistic exposure to the growth of blockchain technology.
Meanwhile, industry experts speculate that the United States Securities and Exchange Commission (SEC) may soon approve Bitcoin ETF filings. Bloomberg analysts James Seyffart and Eric Balchunas suggest that the SEC could potentially approve all 12 ETF filings if it decides to embrace the concept. However, it is important to note that this is mere speculation, with no concrete confirmation yet.
The partnership between ARK Invest and 21Shares highlights the growing interest in digital assets and the need for innovative investment products in this space. As the crypto market continues to evolve, ETFs offer a regulated and accessible way for investors to participate in the potential growth of digital assets.