ARK Invest, the investment management firm spearheaded by prominent Bitcoin advocate Cathie Wood, has teamed up with 21Shares, an exchange-traded product (ETP) provider, to introduce users to a suit that will give users exposure to...
ARK Invest, the investment management firm spearheaded by prominent Bitcoin advocate Cathie Wood, has teamed up with 21Shares, an exchange-traded product (ETP) provider, to introduce users to a suit that will give users exposure to Bitcoin and Ethereum futures contracts.
No direct investments into spot BTC
As outlined in the 21Shares website, a set of five products is slated to commence trading in the upcoming week, with these exchange-traded funds securing listings on the Chicago Board Options Exchange.
Notably, the company clarified its position, emphasizing that it will not facilitate direct investment in spot BTC.
In a disclaimer, the company advised investors seeking exposure to BTC’s price to explore alternative investment avenues.
A Bitcoin ETF still on the way
At the same time, ARK Invest and 21Shares have continued to work on their filing for a bitcoin exchange-traded fund, what experts in an Oct. 12 report suggest is a sign that both parties were working jointly with the SEC.
The ETF would provide exposure to the price of Bitcoin by tracking the performance of the S&P Bitcoin Index.