Markets
What to know:
- ARK Invest has, with characteristic briskness, petitioned U.S. regulators to permit two cryptocurrency ETFs intended to track the CoinDesk 20.
- One would pursue the CoinDesk 20, offering exposure to the principal tokens-bitcoin, ether, solana, XRP and cardano; the other would pursue the same index but exclude bitcoin by pairing long index futures with short bitcoin futures.
- The cash-registers of the NYSE Arca would be the stage for listing if approved, and the funds aim to offer diversified crypto exposure without direct token custody, following similar, still-unapproved proposals from WisdomTree and ProShares.
ARK Invest, the asset management firm led by Cathie Wood, has filed with U.S. regulators to launch two new cryptocurrency exchange-traded funds (ETFs) that would track the CoinDesk 20 – a beacon, to some, of the most liquid digital assets, including bitcoin, ether, solana, XRP and cardano.
Rather than lugging crypto coins around in a personal briefcase, the proposed ETFs would rely on cash-settled, regulated futures contracts to mimic the index’s daily performance.
While one fund will track the CoinDesk 20, the other will track that index, but exclude bitcoin by pairing long index futures with short bitcoin futures.
Both products are designed to give investors diversified access to crypto assets without the complexities of custody or direct token ownership. The funds would list on NYSE Arca, though the exchange has not yet submitted a 19b-4 form with the Securities and Exchange Commission (SEC), a procedural rite of passage that makes the filings official and starts the approval waltz.
The ARK filings follow similar efforts by asset managers WisdomTree and ProShares, who have also proposed crypto index ETFs using regulated futures. None of the filings have yet been approved for trading, leaving a gap in the market for diversified crypto exposure through ETFs.
While ARK has already made headlines with its involvement in spot bitcoin ETFs, these latest products signal a push toward broader coverage of the crypto market.
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2026-01-26 20:26