In response to recent reports suggesting that the United States securities regulator may soon approve Ethereum ETF applications, investment firms ARK Invest and 21Shares have joined forces to apply for two Ethereum futures exchange-traded funds. The proposed ETFs are named “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY). ARKZ would invest a minimum of 25% of its total assets in cash-settled Ethereum futures contracts traded on the Chicago Mercantile Exchange, while ARKY would consist of both Bitcoin and Ethereum futures contracts. Empowered Funds has been assigned as the investment advisor for these two Ethereum products. This collaboration follows the partnership between ARK Invest and 21Shares to launch a spot Bitcoin ETF earlier this year, which faced rejections from the SEC. The investment firms are also awaiting the outcomes of other Bitcoin-related ETF applications. Overall, this co-filing by ARK Invest and 21Shares demonstrates their confidence in the potential approval of Ethereum ETFs by the SEC.
