Three bitcoin futures bitcoin-ETFs will launch in the US with Ark and 21Shares branding

Three bitcoin futures bitcoin-ETFs will launch in the US with Ark and 21Shares branding

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Author: Robert Strickland (crypto-journalist)
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Three bitcoin futures bitcoin-ETFs will launch in the US with Ark and 21Shares branding

Three bitcoin futures bitcoin ETFs with Ark and 21Shares branding will launch in the US



The Ark 21Shares Active Bitcoin Futures fund will invest in bitcoin futures, it will underlie two other bitcoin-ETFs

Empowered Funds has applied to launch three bitcoin futures ETFs that will use the Ark Invest and 21Shares brands in their names, the Financial Times reports.

The Ark 21Shares Active Bitcoin Futures fund will invest primarily in Bitcoin futures traded on the Chicago Mercantile Exchange. This fund will be the underlying fund relative to the other two bitcoin-ETFs, the publication said.

In turn, the second fund - Ark 21Shares Active On-Chain Bitcoin Strategy - will allocate at least 25% of its assets to the Digital Asset and Blockchain Strategy fund, which will invest in the underlying bitcoin-ETF along with "investments in companies related to the blockchain, digital assets, technology, and fintech industries," the publication specifies.


Ark 21Shares Active On-Chain Bitcoin Strategy will use a proprietary trend indicator model to adjust its strategy based on market trends. Under optimistic conditions, the fund could invest up to 100% in the underlying ETF, the article noted.

In August, Bloomberg predicted that the SEC was ready to approve applications for Ethereum-ETF futures. The regulator is unlikely to disapprove products that would be based on futures contracts on the second-largest cryptocurrency, sources familiar with the situation told the publication.

UK-based Jacobi Asset Management launched Europe's first spot bitcoin-ETF in August, nearly two years after approval.

Earlier, the SEC postponed a decision on Katie Wood's ARK 21Shares fund ARK 21Shares' bitcoin-ETF application. The SEC is now reviewing more than 12 applications for spot bitcoin ETFs. On Aug. 8, Wood said she expects the SEC to approve several bitcoin ETFs at once. In June, her ARK Invest reported that the company was first in line for potential bitcoin-ETF approval, as it had submitted an application to the SEC before others.

 

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