Investment firm ARK Invest, led by Cathie Wood, has teamed up with 21Shares, a Swiss-based cryptocurrency ETP issuer, to apply for two exchange-traded funds (ETFs) that will offer investment in Ethereum futures contracts.
According to filings with the U.S. Securities and Exchange Commission (SEC) on Thursday, the two proposed ETFs are:
- The ARK 21Shares Active Ethereum Futures ETF (Ticker Symbol: ARKZ) will only invest in ETH futures contracts.
- ARK 21Shares Active Bitcoin Ethereum Strategy (Ticker Symbol: ARKY) will invest in both Bitcoin and ETH futures contracts.
Both ETFs will be actively managed by ARK Invest and 21Shares and will seek to provide investors with returns that track the performance of their underlying futures contracts, excluding fees and charges.
It is worth noting that a large number of Ethereum futures ETF applications have been filed with the SEC recently. Bloomberg analysts said they were almost certain they would be approved.
*Not investment advice.