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Ark Invest and 21Shares Launch New Digital Asset ETFs Amidst Crypto Growth

Why Ark Invest's Bitcoin ETF isn't listed on DTCC

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TL;DR

  • Ark Invest and 21Shares have announced a series of digital asset ETFs, with a focus on Bitcoin and Ethereum futures.
  • The new ETFs will be listed on the CBOE, signaling a move to integrate digital assets into mainstream investment portfolios.
  • These ETFs will not hold direct investments in bitcoin or digital assets but will offer exposure through futures contracts and blockchain company equities.

Ark Invest, steered by the visionary Cathie Wood, in collaboration with 21Shares, has revealed the initiation of a new series of digital asset ETFs. These ETFs notably include the ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA) and ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ). These funds will distinguish themselves by investing in futures contracts and equity of companies thriving in the blockchain sector.

The quintet of ETFs is set to be listed on the CBOE, signifying a strategic move for investors eager to incorporate digital assets into their financial plans. While these funds will not directly invest in bitcoin or spot digital assets, they offer a bridge to the burgeoning realm of digital currencies through futures contracts and blockchain-related companies.

The launch marks an expansion for Ark Invest, which presently offers six ETFs in the U.S., including three on the CBOE platform. This move further cements Ark’s commitment to innovation in the ETF space.

In recent portfolio adjustments, Ark Invest has made notable transactions. The company has bolstered its holdings in Jack Dorsey’s Block Inc while scaling back on its investment in the Grayscale Bitcoin Trust. Specifically, Ark’s flagship funds have acquired over 113,000 shares in Block Inc, valued at approximately $5.61 million, as of the closing price on November 6. Conversely, Ark liquidated shares of the Grayscale Bitcoin Trust, amounting to nearly $5.1 million across different funds.

Cathie Wood’s advocacy for cryptocurrencies remains undiminished. She reiterated her bullish stance on bitcoin in a Bloomberg interview last November, forecasting an ambitious price target of $1 million by the end of this decade.

Ark Invest’s strategic moves and Wood’s continued confidence in the digital asset market demonstrate a steadfast vision for the future of investment in the crypto space. The introduction of these ETFs by Ark and 21Shares may present a novel avenue for investors to engage with digital assets, aligning traditional investment mechanisms with the dynamic world of blockchain technology.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Mutuma Maxwell

Maxwell especially enjoys penning pieces about blockchain and cryptocurrency. He started his venture into blogging in 2020, later focusing on the world of cryptocurrencies. His life's work is to introduce the concept of decentralization to people worldwide.

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