Ark Invest, under the dynamic leadership of Cathie Wood, in collaboration with 21Shares, has launched an innovative suite of digital asset ETFs, including the ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA) and ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ). These ETFs are unique as they invest in futures contracts and the equity of burgeoning blockchain companies.
These ETFs will be available on the CBOE, providing investors with a novel method to integrate digital assets into their investment portfolios. While they do not directly hold Bitcoin or other digital currencies, they serve as a conduit to the digital currency world via futures contracts and investments in companies at the forefront of blockchain technology.
This initiative represents a broadening of Ark Invest’s portfolio, which already includes six ETFs traded in the U.S., with three hosted on the CBOE. This development is a testament to Ark’s dedication to pioneering the ETF market.
Ark Invest has also been active in managing its portfolio, significantly increasing its stake in Jack Dorsey’s Block Inc, while reducing its position in the Grayscale Bitcoin Trust. Ark’s leading funds have added over 113,000 shares of Block Inc, with a value of around $5.61 million, based on the latest closing price. In contrast, Ark has divested approximately $5.1 million worth of shares in the Grayscale Bitcoin Trust across various funds.
Cathie Wood’s support for cryptocurrencies is as strong as ever. In a recent Bloomberg interview, she shared an optimistic prediction that Bitcoin could reach $1 million by the decade’s end.
Ark Invest’s latest maneuvers and Wood’s unwavering belief in the digital asset sphere underscore a clear vision for the investment future within the cryptocurrency environment. The debut of these ETFs by Ark and 21Shares could provide investors with an innovative way to participate in digital assets, marrying conventional investment strategies with the fast-evolving domain of blockchain technology.