Cathie Wood's ARK Invest And 21Shares File For Bitcoin, Ethereum Futures ETFs
Portfolio Pulse from Murtuza Merchant
ARK Invest, led by Cathie Wood, and 21Shares have filed applications for two futures exchange-traded fund (ETF) products focused on Ether (ETH) and Bitcoin (BTC). The proposed ETFs are named ARK 21Shares Active Ethereum Futures ETF (ARKZ) and ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY). The ARKZ ETF will allocate a minimum of 25% of its investments to Ether futures products linked to the ETH cryptocurrency. The ARKY ETF will dedicate at least 25% to combined Ether and Bitcoin futures products.
August 25, 2023 | 2:40 pm
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NEUTRAL IMPACT
BlackRock's spot Bitcoin ETF filing is mentioned in relation to ARK Invest and 21Shares' application.
The news mentions BlackRock's spot Bitcoin ETF filing in relation to ARK Invest and 21Shares' application. However, it does not provide any specific information that would impact BlackRock's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 30
POSITIVE IMPACT
The proposed ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY) will dedicate at least 25% to combined Ether and Bitcoin futures products.
The news that ARK Invest is filing for an ETF that will dedicate a significant portion of its investments to Bitcoin futures products could increase demand for Bitcoin, potentially driving up its price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
The proposed ARK 21Shares Active Ethereum Futures ETF (ARKZ) will allocate a minimum of 25% of its investments to Ether futures products linked to the ETH cryptocurrency.
The news that ARK Invest is filing for an ETF that will dedicate a significant portion of its investments to Ether futures products could increase demand for Ether, potentially driving up its price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100