Ark Investment Management partners with 21Shares to file for Bitcoin ETF

  • Ark Invest’s newly proposed Bitcoin ETF has been one of the latest addition to a growing list of applications for a crypto ETF in the United States.
  • The investment management firm has partnered with 21Shares for a joint Bitcoin ETF filing with the US SEC.
  • The trust underpinning the ETF would also hold BTC directly. 

Ark Investment Management has joined a list of firms to file a Bitcoin-exchange traded fund (ETF) with the United States Securities & Exchange Commission (SEC).

Ark Invest jumps into Bitcoin ETF race

The New York-based investment management firm with over $50 billion in assets under management has partnered with European exchange-traded product issuer 21Shares to file for a Bitcoin ETF – the Ark21Shares ETF. 

According to the SEC filing, the Bitcoin ETF would be listed on the Chicago Board Options Exchange’s (Cboe) BZX Exchange. Cboe has filed multiple filings to launch other similar funds, including VanEck and WisdomTree’s BTC ETF. 

The ETF would consist of holding Bitcoin directly, as well as tracking the S&P BTC index – a tool developed by the S&P Dow Jones Indices. The index relies on data from Binance, Bitfinex, Bittrex, Bitstamp, Coinbase Pro, Gemini and a few other exchanges to reach a unified price based on “a combination of qualitative and quantitative metrics.”

The founder and CEO of Ark Investment Management, Cathie Wood, is also a board member of 21Shares, the fourth-largest institutional crypto product issuer by assets under management with over $1 billion. 

21Shares is the sponsor of the trust, while Ark Invest will support marketing the ETF shares, according to the filing. 

Bank of New York Mellon will act as an administrator and transfer agent for the newly proposed ETF, while Coinbase is expected to custody the Bitcoin directly purchased.

Bitcoin ETF applications have witnessed a wave of extensions as the SEC requires more time to examine the proposals before making a decision. The newly proposed ETF will see its clock start on a decision when Cboe files the companion 19b-4 for the ARK 21Shares offering.

Recently, the SEC asked the public to weigh in on the VanEck Bitcoin ETF proposal. The securities regulator would like interested parties to give feedback on the potential risks the new financial product would pose to the market. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Chainlink to present buy opportunity before LINK rises to $38

Chainlink price could create one of the most sought-after bullish entry setups in Point and Figure analysis: the Bullish Catapult. However, buyers must keep Chainlink above a certain price threshold, or the pattern will be invalidated.

More ChainLink news

SafeMoon bulls look for a breakout to $0.0000024

SafeMoon price is one of the best performers of the day, with moves as high as 13% above the open. While the breakout above $0.0000019 is bullish, momentum must be maintained to push SafeMoon above the Cloud to create clear bullish ...

More SafeMoon news

Top 3 Price Prediction: Investors prepare to sell on ETF news

Bitcoin price has historically sold off during the opening of any new derivative futures contract. Will this behavior continue? Ethereum price struggles to cross above the critical $4,000 level and may be held back pending any Bitcoin weakness.

More Bitcoin news

Cardano price to tread water soon, breaking below $2

Cardano price sees bears pushing price action further to the downside. ADA price has tested $2, but with lower highs, Cardano price is getting squeezed lower. The pivotal level at $1.89 could make or break the uptrend. Cardano price has been trying to recover ...

More Cardano news


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast