Cathie Wood’s ARK Invest and 21Shares have jointly applied for two futures ETFs involving ether and bitcoin.
The ETFs provide exposure to the assets without direct investment in the cryptocurrencies.Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Cathie Wood’s ARK Invest and 21Shares have jointly applied for two futures exchange-traded fund products involving ether and bitcoin , joining the growing list of firms looking to launch similar products.
The ETFs will not directly invest in the digital assets or spot products. Instead, they will focus on cash-settled futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission , such as the Chicago Mercantile Exchange . The filing stated that ARKZ will invest at least 25% in ether futures products, relating to the ETH cryptocurrency, with the fund’s remaining investments allocated to U.S. Treasuries, money market instruments, and repurchase agreements.
Similarly, ARKY will invest at least 25% in ether as well as bitcoin futures products combined, allocating its remaining assets to cash and cash equivalents, primarily U.S. government securities, according to the filing.
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