Investment management firm Ark Invest, led by renowned Bitcoin advocate Cathie Wood, has announced its partnership with exchange traded product (ETP) provider 21Shares to launch a new crypto asset exchange traded fund (ETF) package. This move aims to offer a range of options that appeal to investors looking to include crypto assets in their investment portfolios.
According to an official statement from 21Shares’ website, the companies will utilize signals on the blockchain and their local experiences with crypto to invest in Bitcoin and Ethereum futures contracts, aiming to generate long-term capital returns.
The report published by the companies states that the five products in question are expected to start trading during the week. Additionally, all these ETF products will be listed on the Chicago Board Options Exchange (CBOE).
The company also emphasized that it will not offer investors the opportunity to invest directly in spot BTC products. In a public announcement, the company stated that investors interested in investing based on Bitcoin price should consider other investment options.
In addition to Bitcoin and Ethereum futures products, ARK 21Shares has designed a product called Blockchain and Digital Economy Innovation ETF to invest in publicly traded stocks of companies in the blockchain sector. According to 21Shares, this product provides investors with a service that is defined as staying connected to the growth of blockchain technology across all areas.
Meanwhile, Bloomberg analysts predict that the U.S. Securities and Exchange Commission (SEC) has options to approve Bitcoin ETF applications.
On November 8, analysts James Seyffart and Eric Balchunas stated that if the SEC decides to approve these applications in the near future, there is a possibility of approving all 12 ETF applications. However, analysts also pointed out that this possibility is only a probability and that the institution has not yet taken any concrete steps.