New Bitcoin and Ether ETF application from ARK Invest to the SEC
ARK Invest has joined companies applying for Ether futures ETF. The company, led by Cathie Wood, has filed for both Bitcoin and Ether futures ETFs in collaboration with Switzerland-based ETF provider 21Shares.
There are two different funds that emerged as a result of these applications: ARKZ and ARKY. While the ARKZ fund aims to invest only in the Ethereum futures price, the ARKY fund will track both Ether and Bitcoin futures prices. Neither ETF will invest directly in spot products; instead, they will invest in cash-based futures contracts on CFTC-registered exchanges.
At least 25% of the ARKZ fund will be invested in Ether futures, while the remainder will be directed to US bonds, money market instruments and repurchase agreements. On the other hand, 25% of the ARKY fund will be invested in both Ether and Bitcoin futures products; The other portion will be directed to cash and U.S. government securities.
Is green light coming for Ether futures?
As it is known, in late July and early August, many companies such as Bitwise, Proshares, Grayscale and Valkyrie applied for Ether futures ETF. News in the US media states that the SEC is ready to approve Ether futures ETFs.
