ARK Invest and 21Shares Collaborate for New Ethereum Futures ETF Applications
In an exciting development for the cryptocurrency and investment communities, renowned financial research firm ARK Invest and leading Swiss-based crypto ETP issuer 21Shares have once again joined forces to jointly submit two Ethereum futures ETF applications. This move comes as the crypto space continues to evolve, and both companies seek to expand their offerings in the rapidly growing digital asset investment landscape.
The first of the two applications is for an Ethereum futures ETF with the proposed ticker symbol ARKZ. The second application takes a broader approach, aiming to introduce a Bitcoin and Ethereum futures ETF with the code ARKY. This dual application reflects a strategic move by ARK Invest and 21Shares to cater to different investor preferences and risk appetites, as well as to potentially capitalize on the continued interplay between the two major cryptocurrencies.
We have two more filings for ETFs with Ethereum Futures. This pair is from the @ARKInvest/@21Shares partnership. One will be just ETH futures. The other will be both #Bitcoin& Ethereum futures.
h/t @NateGeraci pic.twitter.com/mgS9QzCdPX— James Seyffart (@JSeyff) August 24, 2023
James Seyffart, an industry expert closely following this development, shed light on the partnership’s latest move. With the Securities and Exchange Commission (SEC) showing increasing interest in digital asset investment products, ARK Invest and 21Shares seem well-timed in their submission. Seyffart’s insights suggest that the SEC might give its approval for the Ethereum futures ETF as early as October, pending the necessary regulatory reviews and due diligence.
This collaborative effort is not the first of its kind. The two companies have a track record of successful collaborations, and this venture underscores their commitment to pushing the boundaries of innovation in the financial sector. Ethereum futures ETFs hold the potential to provide investors with exposure to the price movements of Ethereum without directly holding the cryptocurrency, thereby mitigating some of the complexities and security concerns associated with digital asset custody.
Nate Geraci, a respected figure in the financial media landscape, was quick to highlight the significance of these ETF filings. Through his tweet, Geraci pointed out that this is not just a single submission but rather a pair of applications, with one focused solely on Ethereum futures and the other spanning both Bitcoin and Ethereum futures. This approach seems to cater to a diverse range of investors who may have varying levels of comfort with different digital assets.
As the world of traditional finance continues to intersect with the rapidly evolving realm of cryptocurrencies, such collaborative efforts signal a growing acceptance of digital assets as a legitimate investment class. Should the SEC approve these ETF applications, it could mark another milestone in the mainstream adoption of cryptocurrencies and pave the way for increased participation from institutional and retail investors alike.
In conclusion, the joint submission of two Ethereum futures ETF applications by ARK Invest and 21Shares demonstrates their commitment to providing innovative investment avenues in the crypto space. With the potential approval date on the horizon, eyes are set on the SEC’s decision in October. Whether these applications receive the regulatory green light or not, the mere submission signifies a bold step toward bridging the gap between traditional finance and the emerging world of digital assets.
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