Investment manager Ark Invest is teaming up with 21Shares to roll out a new range of exchange-traded funds (ETFs) focused on digital assets.
The companies aim to provide investors with diverse exposure to digital assets, including Bitcoin and Ethereum futures, and investments in blockchain-related firms.
The collaboration will result in a debut of a series of ETFs, designed to yield long-term capital growth through strategic investments in futures contracts for Bitcoin and Ethereum, as well as the application of blockchain technologies.
The ETFs will be listed on the Chicago Board Options Exchange (Cboe), with five distinctive products set to begin trading next week. These offerings will enable investors to gain exposure to the price movements of Bitcoin and Ethereum without direct ownership.
One of the products will also include public equities of companies engaged in the blockchain industry. However, it’s notable that these ETFs do not allow direct investment in cryptocurrencies.
The announcement comes as the financial world keenly awaits a decision on the approval of spot Bitcoin ETFs. Ark Invest recently revised its prospectus for a Bitcoin ETF, addressing concerns raised by the U.S. Securities and Exchange Commission (SEC).
Major financial institutions, including Fidelity, Grayscale, and BlackRock, are also actively pursuing the establishment of spot Bitcoin ETFs, further fueling optimism in the cryptocurrency market.
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