ARK Invest Proposes New Bitcoin and Ether ETFs to SEC: A Game Changer?

  • ARK Invest, managed by Cathie Wood, has applied for both Bitcoin and Ether futures ETFs in collaboration with Swiss-based ETF company 21Shares.
  • One of the funds (ARKZ) will invest solely in Ethereum futures prices, while the other (ARKY) will track both Ether and Bitcoin futures prices.
  • Reports suggest that the SEC is ready to approve Ether futures ETFs, with several companies, including Bitwise, Proshares, Grayscale, and Valkyrie, having submitted applications in late July and early August.

ARK Invest, under the leadership of Cathie Wood, has teamed up with 21Shares, a Swiss-based ETF company, to apply for both Bitcoin and Ether futures ETFs. The ARKZ fund will focus exclusively on Ethereum futures prices, while the ARKY fund will monitor both Ether and Bitcoin futures prices. There are indications that the SEC is prepared to greenlight Ether futures ETFs, following applications from several firms, including Bitwise, Proshares, Grayscale, and Valkyrie, in the recent past.

ARK Invest Joins the Race for Bitcoin and Ether Futures ETFs

sec

ARK Invest, steered by Cathie Wood, has joined the growing list of companies applying for Bitcoin and Ether futures ETFs. This move is in partnership with 21Shares, a company based in Switzerland that specializes in ETFs. This strategic move by ARK Invest is seen as a significant step in the cryptocurrency market, demonstrating the increasing interest and confidence in digital currencies.

Details of the ARKZ and ARKY Funds

ARK-Invest

The ARKZ fund will invest solely in Ethereum futures prices, making it a unique investment vehicle for those interested in this particular cryptocurrency. On the other hand, the ARKY fund will track both Ether and Bitcoin futures prices, offering investors a diversified exposure to the two leading digital currencies. Both funds will not invest in spot products but will instead focus on cash-based futures contracts registered with the CFTC.

More details about Bitcoin ETF’s: Bitcoin ETF Dates

SEC’s Stance on Ether Futures ETFs

There have been several applications for Ether futures ETFs in the recent past, with companies such as Bitwise, Proshares, Grayscale, and Valkyrie leading the charge. Recent reports suggest that the SEC is ready to approve these applications, signaling a potentially significant shift in the cryptocurrency market. This development could pave the way for increased institutional investment in digital currencies, particularly Ether.

Conclusion

The move by ARK Invest to apply for Bitcoin and Ether futures ETFs, in collaboration with 21Shares, is a significant development in the cryptocurrency market. It not only demonstrates the growing interest in digital currencies but also suggests a potential shift in the market, especially with indications that the SEC is ready to approve Ether futures ETFs. This development could lead to increased institutional investment in digital currencies, further propelling their growth and acceptance.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Top Losers on Binance: TROY Sees a 25.01% Decline in 24 Hours

As of November 23rd, recent market data from Binance...

LM Funding Reports Increased BTC Mining Output in October 2024: A Step Towards Financial Growth

COINOTAG has reported that on November 23, LM Funding,...

Bitcoin’s Bullish Rebound Begins: VanEck’s Analysis Reveals Key Indicators for Future Growth

In a recent analysis by asset management powerhouse VanEck,...

Binance Achieves $8.73 Billion Net Inflow, Boosting Total Crypto Assets to $154.9 Billion

According to recent data from DeFiLlama, Binance experienced a...

ETH Investor Earns 1533 ETH Profit After Strategic WBTC Swap: Insights from On-Chain Data

On November 23rd, COINOTAG News reported a significant transaction...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img