Crypto Players Team Up For ETF
In a recent filing with the SEC, Ark Invest and 21Shares have announced their collaboration to apply for an Ethereum Futures ETF.
Main Points:
– Ark Invest and 21Shares are teaming up to apply for an Ethereum Futures ETF.
– The proposed ETFs are ARK 21Shares Active Ethereum Futures ETF (ARKZ) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY).
– ARKZ will allocate a minimum of 25% of its assets to cash-settled ether futures contracts.
– Insiders close to the SEC suggest that Ether futures ETFs may not be obstructed by the regulatory body.
– Ark Invest and 21Shares have previously collaborated on a spot bitcoin ETF and have re-filed their application in April.
Will the SEC Approve?
The SEC’s historically cautious stance towards crypto ETFs may be changing as insiders suggest that Ether futures ETFs will not be obstructed. This has encouraged leading entities like Ark Invest and 21Shares to capitalize on the emerging trend.
Hot Take:
The collaboration between Ark Invest and 21Shares to apply for an Ethereum Futures ETF showcases the growing interest in leading cryptocurrencies and their associated derivatives. With the SEC potentially becoming more open to such ETFs, the crypto market could see a new wave of investment opportunities.
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