$ARK Cathie Wood’s asset management firm Invest has applied to U.S. regulators to launch two new crypto exchange-traded funds (ETFs) that track the CoinDesk 20, a benchmark for the most liquid digital assets including Bitcoin, Ether, Solana, XRP and Cardano.
Rather than holding cryptocurrencies directly, the proposed ETF would rely on cash-settled regulated futures contracts to mimic the daily performance of an index.
One fund tracks CoinDesk 20 and the other fund tracks that index, but excludes Bitcoin by combining long index futures with short Bitcoin futures.
Both products are designed to provide investors with diversified access to crypto assets without the need for complex management or direct ownership of tokens. The fund will be listed on NYSE Arca, but the exchange has not yet filed a 19b-4 form with the Securities and Exchange Commission (SEC). This is an important step to formalize the application and begin the approval process.
of $ARK These filings follow similar efforts by asset managers WisdomTree and ProShares, which have also proposed crypto index ETFs using regulated futures. None of the applications have yet been approved for trading, leaving a gap in the market for diverse crypto exposure through ETFs.
meanwhile $ARK has already made headlines for its involvement in spot Bitcoin ETFs, but these latest offerings signal a broader push into the crypto market.
