What You Need to Know
- Ark Invest will lend marketing support to the ARK 21Shares Bitcoin Futures Strategy (ARKA).
- Alpha Architect is the investment advisor. 21Shares is the sub-advisor.
- Cathie Wood sits on the board of the parent company of 21Shares.
Cathie Wood is joining the slate of Wall Street players hoping U.S. regulators will soon greenlight an ETF tracking Bitcoin futures.
The ARK 21Shares Bitcoin Futures Strategy ETF, ticker ARKA, plans to invest in Bitcoin futures contracts that trade on commodity exchanges, according to a Wednesday filing with the Securities and Exchange Commission.
Alpha Architect, a white-label issuer of ETFs, submitted the filing, while 21Shares US LLC — an affiliate of Zug, Switzerland-based 21Shares AG — is listed as the sub-advisor. Ark Investment Management has agreed to provide marketing support for the sub-advisor.
ETF issuers have been rushing to submit applications for funds tracking Bitcoin futures, after SEC Chairman Gary Gensler said he would be more open to approving one that is submitted under the Investment Company Act of 1940, which offers more investor protection.
At the beginning of the month, nine Bitcoin futures ETF applications were being considered by U.S. regulators, according to Bloomberg Intelligence.
Wood earlier lent her firm’s name to ARK 21Shares Bitcoin ETF, ticker ARKB, which would track the performance of the world’s largest cryptocurrency as measured by the S&P Bitcoin Index, according to a June filing.