TechFlow reports that Ark and 21Shares have filed three applications for bitcoin futures ETFs since last Friday.
According to filings submitted on August 11, one of the ETFs will invest in cash-settled bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME). The proposed product, named Ark 21Shares Active Bitcoin Futures ETF (ARKA), may also hold U.S. Treasury securities, money market instruments, and repurchase agreements.
The second proposed fund, Ark 21Shares Active On-Chain Bitcoin Strategy ETF (ARKC), will similarly allocate at least 25% of its assets to bitcoin futures contracts (ARKA), with the remainder invested in cash and cash equivalents.
Finally, the proposed Ark 21Shares Digital Assets and Blockchain Strategy ETF (ticker ARKD) will invest in bitcoin futures contracts or ARKA, as well as equities of companies in the blockchain, digital asset, and fintech sectors.
Empowered Funds, a subsidiary of the white-label ETF platform Alpha Architect, is listed as the investment advisor for the proposed funds, while 21Shares and Ark Invest will serve as sub-advisors.
