Asset manager ARK Invest intends to launch together with cryptocurrency ETP provider 21Shares a new line of exchange-traded funds (ETFs).
The products in question include the ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA), the ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ), the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC), the ARK 21Shares Blockchain and Digital Economy Innovation ETF (ARKD) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY).
The funds' total annual operating expenses reportedly range from 0.7% to 1%.
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According to the release:
"The suite aims to deliver long-term capital appreciation through strategic investments in Bitcoin and Ethereum futures contracts, and the application of blockchain technologies."
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The instruments will be listed on the CBOE and trading is scheduled to begin next week.
"Neither the funds nor the underlying ETF invest directly in Bitcoin or other digital assets or maintain direct exposure to spot Bitcoin."