ARK Invest submits filings for two crypto ETFs benchmarked to CoinDesk 20

ARK Invest is pushing further into crypto index products with filings for two exchange-traded funds tied to the CoinDesk 20, including one that would remove bitcoin from the mix.

The asset manager led by Cathie Wood has submitted proposals to U.S. regulators for the pair of ETFs linked to the CoinDesk 20, a benchmark tracking the performance of the most liquid digital assets such as bitcoin, ether, solana, XRP and cardano.

Rather than holding cryptocurrencies outright, both funds would use cash-settled, regulated futures contracts to replicate the index’s daily performance. One ETF would aim to track the CoinDesk 20 directly, while the second would follow the same benchmark but exclude bitcoin by combining long positions in index futures with short positions in bitcoin futures.

The proposed products are designed to give investors diversified exposure to crypto markets without the operational and custody hurdles associated with direct token ownership. The ETFs would list on NYSE Arca, although the exchange has not yet submitted a 19b-4 filing to the U.S. Securities and Exchange Commission, a key step required to begin the formal approval process.

ARK’s filings come amid similar efforts from asset managers including WisdomTree and ProShares, which have also proposed crypto index ETFs that rely on regulated futures. None of these filings have been approved so far, leaving investors without a broadly diversified crypto ETF option.

While ARK has already played a high-profile role in the rollout of spot bitcoin ETFs, the latest proposals highlight the firm’s push to broaden its crypto offerings beyond single-asset exposure.

About The Author

ctleditor

See author's posts