Ethereum

Bitcoin

Generation

<ul class="list-ic vertical"> 
 <li> 1 <a>ARK Invest and 21Sharesare joining the queue that will offer Ethereum futures ETF.</a> </li> 
 <li> 2 <a>Both of the investment firms have applied for two Ethereum futures ETFs.</a> </li> 
</ul> 
The investment firms, ARK Invest and 21Shares teamed up and applied for two Ethereum futures exchange-traded funds (ETFs). Their co-filing comes just a week after reports emerged that the Securities and Exchange Commission (SEC) is likely to greenlight Ethereum ETF applications. 
ARK Invest and 21Shares joined to apply for two Ethereum futures ETFs after reports emerged last week that the United States SEC could soon begin approving applications. 
<h2 class="wp-block-heading" id="strong-the-proposal-of-ark-invest-and-21shares-strong">The Proposal of ARK Invest and 21Shares</h2> 
According to an August 24, 2023 filing to the SEC, the two proposed Ethereum futures ETFs are “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY). 
The filing states that&nbsp; ARKZ would invest nearly 25% of its total assets in cash-settled Ethereum futures contracts, such as those traded on the Chicago Mercantile Exchange (CME). Whereas, ARKY will consist of both Bitcoin and Ethereum futures contracts. The empowered Funds has been assigned as investment advisor for the two Ethereum products. 
It must be noted that ARK Invest and 21Shares first partnered to launch a spot Bitcoin ETF two years ago in 2021. However, the SEC knocked back its first two attempts in March 2022 and in January. Its most recent Bitcoin spot ETF application was filed in April 2023. This filing was almost two months before $10 Trillion firm BlackRock put in its own application. 
Recently, the SEC labeled many of the Bitcoin spot ETF applications as inadequate. However, this prompted ARK 21Shares and other applicants to add a surveillance-sharing agreement to their applications. 
ARK Invest and 21Shares are also awaiting the outcomes of Ark 21Shares Active Bitcoin Futures ETF (ARKA) and Ark 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC). 
<h3 class="wp-block-heading" id="strong-cathie-wood-s-investment-strategy-strong">Cathie Wood’s Investment Strategy</h3> 
<a href="https://www.thecoinrepublic.com/2023/06/09/ark-invests-cathie-wood-bought-shares-of-block-inc/" target="_blank" rel="noopener noreferrer nofollow">Cathie Wood</a>, the CEO of Ark Invest continues to trim Shopify Inc. (NYSE: SHOP) holdings to fund some big purchases. It can be seen that the company regularly publishes updates on its holdings in its ETFs. As per its latest update it has sold 48,313 shares of the e-commerce services stock for its ARK Next Generation Internet ETF and 120,022 shares of the stock from its Ark Fintech Innovation ETF on August 21, 2023, Monday. 
According to a recent report by The Motley Fool, a private financial and investing advice company, Wood’s company cut down over 170,300 shares of Shopify stock from its holdings on Monday. It was worth nearly $9.2 Million at the time of the sales. Even more striking, ARK Invest poured cash into seven other growth stocks. 
After the recent sale of SHOP shares, the ARK Next Generation Internet ETF now owns almost $50.4 Million worth of the e-commerce <a href="https://www.thecoinrepublic.com/2023/08/23/will-msft-stock-price-continue-its-bullish-market-trend/" rel="noopener noreferrer nofollow">stock</a>. The holdings account for nearly 3.9% of the fund’s total weight, and the e-commerce stock ranks as the 12th-largest holding in the ETF.

ARK Invest and 21Shares Will Offer Ethereum Futures ETF

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Thecoinrepublic.com

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