March 27, 2024
Launch of Bitcoin ETFs by ARK Invest and 21Shares
Latest Cryptocurrency News

ARK Invest and 21Shares Forge Alliance for New Digital Asset ETFs

Investment management company ARK Invest, under the leadership of seasoned Bitcoin investor Cathie Wood, has entered into a partnership with exchange-traded product (ETP) provider 21Shares to introduce a new range of exchange-traded funds (ETFs) focused on digital assets.

The objective behind this collaboration is to present a diverse set of options to investors seeking to incorporate digital assets into their investment portfolios. As indicated on the 21Shares website, both companies will leverage on-chain signals and their deep-rooted experience in cryptocurrencies to target long-term capital appreciation by investing in Bitcoin and Ethereum futures contracts.

According to the information outlined in the prospectuses released by these organizations, five distinct products are set to commence trading in the coming week. Furthermore, these ETFs will be listed on the Chicago Board Options Exchange (CBOE).

It’s important to note that the company explicitly states that it will not offer investors an opportunity to directly invest in spot BTC. In a disclaimer, they emphasize that individuals seeking exposure to Bitcoin’s price should explore alternative investment avenues.

In addition to Bitcoin and Ethereum futures, one of the products, the ARK 21Shares Blockchain and Digital Economy Innovation ETF, is specifically designed to invest in the public equities of companies operating within the blockchain sector. According to 21Shares, this provides investors with comprehensive exposure to the growth of blockchain technology.

Meanwhile, analysts at Bloomberg are speculating that the United States Securities and Exchange Commission may have an opportunity to approve Bitcoin ETF filings. On November 8, analysts James Seyffart and Eric Balchunas suggested that there is a possibility that the SEC might approve all 12 ETF filings should the regulatory agency decide to embrace the concept. Nevertheless, the analysts have emphasized that this remains only a potential scenario, and there is no concrete confirmation yet.

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