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ARK Invest and 21Shares Enter Line to Provide Ethereum Futures ETF

ARK Invest and 21Shares Enter Line to Provide Ethereum Futures ETF

Investment firms ARK Invest and 21Shares have submitted applications for two Ethereum futures exchange-traded funds (ETFs) following reports that the US Securities and Exchange Commission (SEC) may soon approve such applications. The proposed ETFs are the “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY). ARKZ would invest at least 25% of its assets in cash-settled Ethereum futures contracts, while ARKY would consist of both Bitcoin and Ethereum futures contracts. The SEC previously rejected ARK Invest and 21Shares’ attempts to launch a spot Bitcoin ETF, but the firms have added a surveillance sharing agreement to their new applications. The investment firms are also waiting for the outcomes of their Bitcoin futures ETF applications.

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