In Brief:
- Ark Investment and crypto firm 21Shares’ teams up for Bitcoin Futures ETF
- Ark will provide marketing support and will not make investment decisions or provide investment advice
- 21Shares is listed as the fund’s sub-adviser.
The filing from Alpha Architect ETF to US Securities and Exchange Commission shows Cathie Wood’s Ark Investment and crypto firm 21Shares’ partnership for Bitcoin Futures ETF. Ark will provide marketing support while 21Shares is listed as the fund’s sub-adviser.
Ark Investment Management LLC filed for a Bitcoin (BTC) futures ETF under the ARKA ticker. The ARK 21shares Bitcoin Futures Strategy ETF, ticker ARKA, aims to invest in Bitcoin futures contracts that trade on commodity exchanges, according to the SEC.
The ETF issuer had submitted filing after the SEC Chairman Gary Gensler said that he would give more open-window, who submitted filing under the Investment Company Act of 1940, which ensures protection to investments.
Ark will not make investment decisions or provide investment advice. If the application gets approval, the ETF will list on the Cboe BZX exchange.
Earlier, Cathie Wood registered her firm’s name to ARK21shares Bitcoin ETF (ARKB), which would monitor the world’s largest cryptocurrency as measured by the S&P Bitcoin index.
As 21Shares is not very famous in public, the firm has raised its identity for its crypto exchange-traded products tracking of prominent cryptocurrency Bitcoin, Ripple, and Polkadot. Moreover, Wood was selected on the board of Amun Holdings Ltd., which operates 21 shares.
This is not the first time Cathie Wood dived into the crypto ETF space. In September, Ark’s fund gave clearance to buy Canadian bitcoin exchange-traded funds.
