Cathie Wood’s Ark, 21Shares Team Up on Bitcoin Futures ETF Application to SEC
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Noted investor 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.
Because the SEC hasn’t approve any spot bitcoin ETFs, attention has turned to funds that invest in the bitcoin futures market, a kind of ETF that SEC Chairman Gary Gensler has suggested would have a greater chance of winning approval.
Read more: What Is a Bitcoin Futures ETF?