ARK Invest has submitted applications for two cryptocurrency ETFs linked to the CoinDesk 20.

ARK Invest Applies for Crypto ETFs

ARK Invest has applied to U.S. regulators for two new cryptocurrency exchange-traded funds (ETFs). These funds are designed to track the CoinDesk 20 index.

Fund Contents and Objectives

One of the proposed funds will allow exposure to major tokens, including Bitcoin, Ethereum, Solana, XRP, and Cardano. The other fund will also track the same index but will exclude Bitcoin. This fund will combine long index futures contracts with Bitcoin short-term futures contracts.

If approved, these funds will trade on the NYSE Arca exchange platform. Their aim is to provide investment opportunities in various cryptocurrency alternatives without the need for direct token custody. ARK Invest's applications are similar to unapproved proposals for crypto index ETFs from companies like WisdomTree and ProShares.