In order to introduce a new cryptocurrency exchange-traded fund (ETF) connected to the CoinDesk 20 Index, ARK Investment Management has submitted an S-1 registration to the SEC. Exposure to a variety of significant digital assets, including as Bitcoin, Ether, and XRP, would be provided via the proposed fund.
The ETF is expected to debut on NYSE Arca following regulatory approval, with ARK acting as both sponsor and commodities pool operator. This behaviour is a sign of a growing trend towards multi-asset cryptocurrency products and away from single-token ETFs.
It also indicates that asset managers are growing more hopeful that authorities may be open to a wider range of bitcoin investment opportunities.
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