Cathie Wood’s ARK Invest teams up with 21Shares to launch digital asset ETF suite
Renowned investor Cathie Wood and her investment firm ARK Invest are partnering with 21Shares to launch a new suite of exchange-traded funds (ETFs) focused on digital assets, including Bitcoin (BTC) and Ethereum (ETH).
This initiative will provide investors with a robust set of options to integrate digital assets into their portfolios.
The ETFs, which will be listed on the Chicago Board Options Exchange, aim to generate long-term capital appreciation by investing in Bitcoin and Ethereum futures contracts. However, these products will not be directly exposed to the spot price of Bitcoin or other digital assets.
More than just exposure to cryptocurrencies, one of the products also aims to invest in companies engaged in the blockchain industry, offering exposure to the overall growth of this sector.
The first ETFs will be tradable next week.
This collaboration comes at a time when many players, such as Blackrock, Fidelity, and Grayscale, are eagerly awaiting approval for their spot Bitcoin ETFs by the Securities and Exchange Commission.