Cathie Wood’s Ark Invest to Launch New Suite of ETFs with 21Shares
If you’re a crypto investor, you’ll be interested to know that Cathie Wood’s Ark Invest is preparing to introduce a new set of ETFs in collaboration with 21Shares. This partnership aims to provide investors with various options to incorporate exposure to digital assets into their portfolios. The suite will focus on long-term capital appreciation through strategic investments in Bitcoin and Ethereum futures contracts, as well as the application of blockchain technologies.
The ETFs are set to be listed on the Chicago Board Options Exchange (Cboe), with a total of five products scheduled to begin trading next week. One of the products will invest in a mix that includes public equities of companies engaged in the blockchain industry.
It’s important to note that while these funds won’t offer direct investment in digital assets, they do provide an alternative for investors looking for exposure to the price of bitcoin through other means.
Market Awaits Spot Bitcoin ETF
Ark’s announcement coincides with the anticipation surrounding the approval of spot bitcoin ETFs pursued by major players like Fidelity, Grayscale, and BlackRock. The potential approval of a spot bitcoin ETF has contributed to the recent rise in the price of bitcoin. While the SEC has approved funds investing in bitcoin futures, it is yet to approve a spot fund.
Hot Take: Increasing Access and Options for Crypto Investors
The collaboration between Cathie Wood’s Ark Invest and 21Shares represents a significant step towards expanding access and options for crypto investors. By providing a range of ETFs focused on digital assets, investors now have more opportunities to strategically incorporate cryptocurrencies into their investment portfolios. The anticipation for spot bitcoin ETFs further underscores the growing interest and demand within both traditional finance and the crypto market for more diversified investment vehicles related to digital assets.
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