Cathie Wood’s ARK Invest files for two crypto index ETFs tied to CoinDesk 20

Core Viewpoint - ARK Invest has filed to launch two new cryptocurrency ETFs that will track the CoinDesk 20 index, which includes major digital assets like bitcoin and ether, using cash-settled futures contracts instead of direct crypto holdings [1][3]. Group 1: ETF Details - One ETF will track the CoinDesk 20 index directly, while the other will track the same index but exclude bitcoin by using a combination of long index futures and short bitcoin futures [2]. - Both ETFs aim to provide diversified access to cryptocurrency assets without the complexities associated with custody or direct ownership of tokens [3]. Group 2: Market Context - The filings by ARK Invest follow similar proposals from other asset managers like WisdomTree and ProShares, who are also seeking to launch crypto index ETFs using regulated futures [4]. - None of the proposed ETFs have received approval for trading yet, indicating a gap in the market for diversified crypto exposure through ETFs [4]. - ARK's latest filings reflect a strategic move towards broader coverage of the cryptocurrency market, building on its previous involvement with spot bitcoin ETFs [4].