1 year ago
The co-filing comes conscionable a week aft reports emerged that the SEC is apt to greenlight Ethereum ETF applications.
Investment firms ARK Invest and 21Shares person teamed up to use for 2 Ethereum futures exchange-traded funds aft reports emerged past week that the United States securities regulator could soon statesman approving applications.
The 2 projected Ethereum futures ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY), according to an Aug. 24 filing to the Securities and Exchange Commission.
The filing states that ARKZ would put astatine slightest 25% of its full assets successful cash-settled Ethereum futures contracts, specified arsenic those traded connected the Chicago Mercantile Exchange (CME).
ARK 21Share has filed 2 much Bitcoin/ Ethereum ETF applications to the SEC. Source: SEC.ARKY, connected the different hand, volition dwell of some Bitcoin and Ethereum futures contracts.
Empowered Funds has been assigned arsenic concern advisor for the 2 Ethereum products.
Related: BlackRock applies for spot Bitcoin ETF — a US archetypal if approved
Ark Invest and 21Shares archetypal partnered to motorboat a spot Bitcoin ETF successful 2021.
The SEC knocked backmost its archetypal 2 attempts in March 2022 and January. Its astir caller Bitcoin spot ETF application was filed successful April — astir 2 months earlier $10 trillion steadfast BlackRock enactment successful its ain application.
However, the SEC precocious labeled galore of the Bitcoin spot ETF applications arsenic inadequate, which prompted ARK 21Shares and different applicants to adhd successful a surveillance sharing statement to their applications.
The concern firms are besides awaiting the outcomes of Ark 21Shares Active Bitcoin Futures ETF (ARKA) and Ark 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC),
Magazine: DeFi Dad, Hall of Flame: Ethereum is ‘woefully undervalued’ but increasing much powerful
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