21Shares US and Cathie Wood's ARK Investment Management, an investment adviser focused on disruptive innovation, on Nov. 14 announced the launch of a suite of five actively managed bitcoin and ethereum futures ETFs.
The ETFs will trade on the Cboe BZX Exchange , according to a news release issued by 21Shares.
"Together with 21Shares, ARK remains committed to increasing access to the crypto asset class, offering U.S. investors actively managed exposure to bitcoin, ether and the broader digital asset ecosystem," said Wood, ARK's founder, CEO and CIO, in the release. "In launching this comprehensive range of strategies, we aim to provide investors with tailored exposure to the crypto asset class based on their risk tolerance and investment objectives."
The new funds are the ARK 21Shares Active Bitcoin Futures Strategy ETF, the ARK 21Shares Active On-Chain Bitcoin Strategy ETF, the ARK 21Shares Blockchain and Digital Economy Innovation ETF, the ARK 21Shares Active Ethereum Futures Strategy ETF and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF.
In addition to those funds, 21Shares and ARK also have been working together on the ARK 21Shares Bitcoin ETF, a proposed U.S.-listed spot bitcoin ETF, Securities and Exchange Commission filings show. The SEC has yet to approve a spot bitcoin ETF.
21Shares is an affiliate of 21Shares AG, which issues cryptocurrency-backed exchange-traded products outside the U.S. As of the morning of Nov. 14, 21Shares AG had $1.7 billion in assets under management, a 21Shares spokesperson said.
ARK had $25 billion in assets under management as of Aug. 31, an ARK spokesperson said.
