Crypto Players Team Up For ETF
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Ark Invest and 21Shares are teaming up to apply for an Ethereum Futures Exchange Traded Fund (ETF). Both companies have unveiled their involvement in the proposed ARK 21Shares Active Ethereum Futures ETF (ARKZ) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY), as per the filing. Empowered Funds, an affiliate of Alpha Architect, will manage the funds themselves.
Main Breakdowns:
– ARKZ and ARKY will have Ark Invest and 21Shares listed as sub-advisers.
– ARKZ will allocate a minimum of 25% of its assets to cash-settled ether futures contracts.
– The SEC is expected to approve Ether futures ETFs, indicating a departure from their cautious stance.
– Ark Invest and 21Shares have previously collaborated on a spot bitcoin ETF and have persisted despite setbacks.
– ARKY will invest in both bitcoin and ether futures contracts, highlighting growing interest in cryptocurrencies and their derivatives.
Hot Take:
The partnership between Ark Invest and 21Shares to apply for an Ethereum Futures ETF demonstrates the growing interest and confidence in cryptocurrencies and their derivatives. With the SEC’s potential approval of Ether futures ETFs, it is clear that the market is evolving and expanding. This collaboration shows that prominent players in the industry are positioning themselves to capitalize on this emerging trend. It will be interesting to see how these ETFs perform and if they open up new opportunities for investors in the crypto space.
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