Cathie Wood’s Ark, 21Shares Team Up on Bitcoin Futures ETF Application to SEC

Noted investor Cathie Wood’s Ark Investment Management and investment-product firm 21Shares are part of a new application to the U.S Securities and Exchange Commission (SEC) to list a bitcoin futures exchange-traded fund (ETF).

• The Wednesday filing was submitted by Alpha Architect ETF Trust, with 21Shares listed as the fund’s sub-adviser.
• Ark Investment will provide marketing support, but not make investment decisions or provide investment advice, the filing said.
• If the application is successful, the ARK 21Shares Bitcoin Futures Strategy ETF will list on the Cboe BZX Exchange under the ticker symbol “ARKA.”
• Ark and 21Shares previously joined the race to get a bitcoin ETF approved, filing with the SEC to list the ARK 21Shares Bitcoin ETF in June.
• Because the SEC hasn’t approve any spot bitcoin ETFs, attention has turned to funds that invest in the bitcoin futures market, a kind of ETF that SEC Chairman Gary Gensler has suggested would have a greater chance of winning approval.

Read more: What Is a Bitcoin Futures ETF?