ARK Invest and 21Shares partner to launch digital asset ETF suite

Five digital asset ETF products will be listed on the Chicago Board Options Exchange and start trading next week.

Investment management firm ARK Invest, led by pro-Bitcoin investment veteran Cathie Wood, has collaborated with exchange-traded product (ETP) provider 21Shares to launch a new suite of digital asset exchange-traded funds (ETFs). The move aims to provide a “robust set of options” for investors looking to get digital assets into their trading portfolio.

The countdown begins: today, 21Shares and ARK Invest announce the upcoming launch the ARK and 21Shares Digital Asset ETF Suite.

The ETF suite uses crypto-specific insights alongside traditional indicators. pic.twitter.com/dkg8aTCtVR

— 21Shares Funds (@21shares_funds) November 8, 2023

According to the 21Shares website, the companies will utilize on-chain signals and their crypto-native experience to deliver “long-term capital appreciation” by investing in Bitcoin (BTC) and Ether (ETH) futures contracts.

According to the prospectuses released by the companies, five products are scheduled to start trading in the next week. Furthermore, these ETFs will be listed on the Chicago Board Options Exchange (CBOE). 

The company also underscored that it will not offer investors a chance to invest directly in spot BTC. In a disclaimer, the company highlighted that investors seeking exposure to the price of BTC should consider other forms of investments. 

Apart from Bitcoin and Ethereum futures, one product called the ARK 21Shares Blockchain and Digital Economy Innovation ETF is also designed to invest in public equities of companies within the blockchain industry. According to 21Shares, this provides investors with what it describes as a “holistic exposure” to the growth of blockchain technology.  

Related: Bitcoin ETF excitement returns as BTC price nears $37K

Meanwhile, Bloomberg analysts speculate that the United States Securities and Exchange Commission has a window to approve Bitcoin ETF filings. On Nov. 8, analysts James Seyffart and Eric Balchunas wrote that there was a possibility that the SEC could approve all 12 ETF filings if the agency decides to allow the concept. However, the analysts also stressed that this was only a possibility and that there was nothing concrete yet.

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