ARK Invest and 21Shares, two leading investment firms in the cryptocurrency space, have jointly filed for two exchange-traded funds (ETFs) that would track the price of ether and bitcoin futures.
The ETFs, which are called the ARK 21Shares ETH Futures ETF and the ARK 21Shares BTC Futures ETF, would be the first ether and bitcoin futures ETFs to be listed on a major U.S. exchange.
ARK Invest is a well-known investment firm that is known for its disruptive investment strategies. The firm’s founder, Cathie Wood, is a vocal supporter of cryptocurrencies and has said that she believes they have the potential to revolutionize the financial system.
21Shares is a Swiss investment firm that specializes in cryptocurrency products. The firm has already launched a number of bitcoin futures ETFs in Europe, and the joint application with ARK Invest is seen as a major step towards bringing these products to the U.S. market.
The filing of the two ETFs comes at a time when there is growing interest in cryptocurrency investing in the U.S. The U.S. Securities and Exchange Commission (SEC) has approved a number of bitcoin ETFs in recent months, and there is speculation that the agency could approve ether ETFs in the near future.
The approval of the ARK 21Shares ETH Futures ETF and the ARK 21Shares BTC Futures ETF would be a major milestone for the cryptocurrency industry. It would make it easier for investors to gain exposure to ether and bitcoin futures, which could help to drive further adoption of these digital assets.
The ETFs are still in the early stages of development, and it is not clear when they will be approved by the SEC. However, the joint application by ARK Invest and 21Shares is a positive sign for the future of cryptocurrency ETFs in the U.S.
Here are some additional details about the two ETFs:
- The ARK 21Shares ETH Futures ETF would track the price of ether futures contracts that are traded on the Chicago Mercantile Exchange (CME).
- The ARK 21Shares BTC Futures ETF would track the price of bitcoin futures contracts that are traded on the CME.
- Both ETFs would be passively managed, meaning that they would track the price of the underlying assets without actively trading.
- The ETFs would be listed on the NYSE Arca exchange.
- The management fees for the ETFs have not yet been announced.
The approval of the ARK 21Shares ETH Futures ETF and the ARK 21Shares BTC Futures ETF would be a major step forward for the cryptocurrency industry as it would make it easier for investors to gain exposure to ether and bitcoin futures, which could help to drive further adoption of these digital assets.
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