ARK, 21Shares Team Up for Bitcoin Futures ETF Application to SEC

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.
  • With no ETF directly investing in bitcoin yet approved by the US market regulator despite over a dozen applications this year alone, attention has been drawn to funds that invest in the bitcoin futures market, something SEC Chair Gary Gensler has suggested would have a greater chance of winning approval.

Read more: What Is a Bitcoin Futures ETF?

Source link Coin Desk

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