ARK Invest has moved to expand its crypto ETF lineup, filing for two new funds designed to track the CoinDesk 20, including one that would strip out bitcoin exposure.
The asset manager led by Cathie Wood submitted filings with U.S. regulators for the pair of exchange-traded funds tied to the CoinDesk 20, a benchmark that measures the performance of some of the most liquid digital assets, such as bitcoin, ether, solana, XRP and cardano.
Instead of holding cryptocurrencies directly, the proposed ETFs would use cash-settled, regulated futures contracts to replicate the index’s daily returns. One fund would seek to closely mirror the full CoinDesk 20, while the other would track the same index excluding bitcoin by pairing long positions in index futures with short positions in bitcoin futures.
The products are aimed at investors looking for diversified crypto exposure without the challenges of custody or direct token ownership. The ETFs are slated to list on NYSE Arca, though the exchange has not yet filed a required 19b-4 form with the U.S. Securities and Exchange Commission, a necessary step to formally kick off the approval process.
ARK’s filings follow similar proposals from asset managers including WisdomTree and ProShares, which have also sought to launch crypto index ETFs based on regulated futures. None of these products have yet been approved, leaving a gap in the market for diversified crypto exposure through ETFs.
Already a prominent player in spot bitcoin ETFs, ARK’s latest move signals a broader push to offer investors access to a wider slice of the digital asset market.
