ARK Invest Seeks to Launch Crypto Index ETFs Based on CoinDesk 20

Ark Invest, led by influential investor Cathie Wood, has submitted filings to the U.S. Securities and Exchange Commission (SEC) to create two new ETFs providing broad exposure to the cryptocurrency market, targeted for listing on the New York Stock Exchange (NYSE) Arca. These proposed ETFs are designed to track the performance of the CoinDesk 20 index, which comprises the 20 most significant cryptocurrencies by market capitalization, including Bitcoin, Ether, and other major altcoins. The innovative approach by Ark Invest involves using regulated futures contracts to replicate the index performance, offering a more traditional investment vehicle for exposure to digital assets. The move comes amid growing institutional interest in cryptocurrency investment products and could represent a significant step forward in bringing cryptocurrencies into the mainstream investment landscape, pending regulatory approval. With the burgeoning ETF market for crypto assets, Ark Invest's initiative is another sign of the evolving interplay between the crypto economy and traditional financial systems.