ARK Investment Management to enter bitcoin ETF, approved by SEC
Cathie Wood’s ARK Investment Management has joined the race to get a bitcoin exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission (SEC).
ARK Invest is forming a partnership with investment product firm 21Shares in submitting a Bitcoin ETF application, according to SEC filings.
The ARK 21Shares Bitcoin ETF would tap 21Shares' expertise in spinning up crypto exchange-traded products (ETPs), mostly across Europe.
ARK and 21Shares join the swelling ranks of companies hoping this will be the year the SEC approves a bitcoin ETF.
ARK Investment Management is an investment management firm based in New York City that has several actively managed exchange-traded funds. It was founded by Cathie Wood in 2014. As of February 2021, the company had $50 billion in assets under management.