Ark Invest Partners with 21Shares to Launch Innovative Digital Asset ETFs Suite
Summary:
Investment firm Ark Invest, led by Cathie Wood, in partnership with 21Shares, is set to launch a suite of digital asset exchange-traded funds (ETFs). This initiative aims to allow investors to incorporate digital assets into their portfolios. The suite includes Bitcoin and Ether futures contracts, and products focusing on public equities of blockchain-related companies. The firms note that trading of these funds is anticipated to commence within the following week on the Chicago Board Options Exchange (CBOE). Bloomberg analysts speculate about potential Bitcoin ETF filings approval by the U.S. Securities and Exchange Commission (SEC).
Bitcoin-friendly investment management firm Ark Invest, under the leadership of veteran investor Cathie Wood, has joined forces with exchange-traded product supplier 21Shares, to roll out a new array of digital asset exchange-traded funds (ETFs). The initiative is designed to offer a comprehensive assortment of opportunities for investors willing to integrate digital assets into their trade portfolios. This collaboration between 21Shares and ARK Invest marks the start of the rollout of the ARK and 21Shares Digital Asset ETF Suite, which harnesses the power of cryptocurrency-specific knowledge alongside conventional predictors.
Information from 21Shares' website reveals that the corporations will leverage on-chain cues and their cryptocurrency-specific expertise to enable “long-term capital growth” through investing in Bitcoin (BTC) and Ether (ETH) futures contracts. Following the issuance of prospectuses by both entities, the trading of five different products is expected to begin by next week. Moreover, these ETFs will be introduced on the Chicago Board Options Exchange (CBOE). The company underscored that investors would not be able to directly invest in “spot” BTC and suggested those wanting exposure to BTC's pricing consider alternative forms of investment.
Besides knowing about Bitcoin and Ethereum futures, it's also worth noting that one of the products, named "ARK 21Shares Blockchain and Digital Economy Innovation ETF," aims to invest in the public equities of blockchain-related companies. According to 21Shares, this ensures investors gain comprehensive access to the expansion of blockchain technology.
Simultaneously, Bloomberg analysts speculate about the likelihood of the U.S. Securities and Exchange Commission (SEC) approving Bitcoin ETF filings. Analysts James Seyffart and Eric Balchunas, on November 8, felt that the SEC could potentially endorse all 12 ETF filings if the agency decides to permit the concept. However, they reiterated that this was merely a possibility without any concrete evidence so far.
Published At
11/9/2023 11:00:11 AM
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