Ark Invest and 21Shares are jointly embarking on the creation of a series of digital asset ETFs, with a focus on Bitcoin, Ethereum futures, and the domain of blockchain technology.
This assortment includes five ETFs. Notably, among them are the ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA) and ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ).
Furthermore, the objective is to amalgamate investments in futures contracts with interests in enterprises actively engaged in the blockchain sector.
These ETFs are designed to “yield long-term capital appreciation through strategic investments.” They are slated to be enlisted on the Chicago Board Options Exchange (CBOE). They are meticulously crafted for investors seeking to seamlessly incorporate digital assets into their investment portfolios.
Nevertheless, 21Shares explicitly specifies that “neither the Funds nor the Underlying ETF invest directly in bitcoin or other digital assets.” Furthermore, they do not maintain direct exposure to ‘spot’ bitcoin.
Crypto ETP Leader: Ark Invest and 21Shares Latest Moves
Positioning itself as the “premier global issuer of crypto exchange products (ETPs),” 21Shares proudly manages an impressive $1 billion in assets under management (AUM). Notably, 21Shares AG-issued ETPs are currently unavailable in the United States.
Ark Invest, helmed by Cathie Wood, presently offers six active ETFs in the United States, of which three are officially listed on CBOE. However, recent adjustments in Ark Invest’s portfolio include acquiring shares in Jack Dorsey’s Block Inc and divesting portions of its holdings in Grayscale Bitcoin Trust.
Certainly, The purchase was executed through its flagship ARK Innovation ETF, ARK Next Generation Internet ETF, and Ark Fintech Innovation ETF. Furthermore, this transaction comprised 113,326 shares of Block Inc. The total value amounted to $5.61 million, calculated based on Block’s closing price of $49.52 on Nov. 6.
Cathie Wood: Grayscale Sales and $1 Million Bitcoin Prediction
Simultaneously, on the same day, Ark Invest decreased its stake in the Grayscale Bitcoin Trust. They sold shares valued at $3.76 million as Grayscale closed at $26.95. Additionally, Ark Next Generation Internet ETF (ARKW) divested $1.34 million of GBTC.
However, Cathie Wood consistently communicates her enthusiasm and confidence in the realm of crypto and bitcoin.
In a Bloomberg interview from November 2022, Wood reiterated her forecast for the Bitcoin price. She emphasized the expectation of it reaching $1 million by the close of this decade.
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