ARK Invest Files for Two Crypto Index ETFs Tracking CoinDesk 20
- ARK Invest has submitted S-1 registration statements for the ‘ARK CoinDesk 20 Crypto ETF’ and the ‘ARK CoinDesk 20 ex-Bitcoin Crypto ETF.’
- The first ETF includes Bitcoin, ETH, ADA, SOL, and XRP among others, while the second excludes Bitcoin and Bitcoin Cash.
- Both funds will be listed on NYSE Arca and will focus on futures contracts rather than providing spot exposure to cryptocurrencies.
- The ARK CoinDesk ETFs aim to invest in regulated futures contracts that reference the CoinDesk index, which includes various cryptocurrencies.
- Grayscale also filed an S-1 for a Binance Coin (BNB) ETF on the same day as ARK’s filings.
These filings mark ARK Invest’s entry into crypto index ETFs, focusing on both major cryptocurrencies and altcoins through futures contracts. This strategy differs from other funds like WisdomTree’s, which directly invests in underlying assets.
The ARK CoinDesk ETFs represent a significant move in the cryptocurrency market as they will track a diverse range of assets without direct spot exposure, potentially appealing to investors seeking regulated investment options.(Source)
