ARK Invest is looking to broaden its crypto ETF lineup, filing for two exchange-traded funds tied to the CoinDesk 20, including one that would remove bitcoin exposure.
The Cathie Wood–led asset manager has submitted filings to U.S. regulators for the pair of ETFs linked to the CoinDesk 20, an index that tracks the performance of some of the most liquid digital assets, including bitcoin, ether, solana, XRP and cardano.
Rather than holding cryptocurrencies directly, both proposed funds would rely on cash-settled, regulated futures contracts to replicate the index’s daily moves. One ETF would aim to closely track the full CoinDesk 20, while the other would follow the same benchmark but exclude bitcoin by combining long positions in index futures with short positions in bitcoin futures.
The products are designed to provide investors with diversified crypto exposure without the challenges of custody or direct token ownership. The ETFs would be listed on NYSE Arca, although the exchange has not yet filed a required 19b-4 form with the U.S. Securities and Exchange Commission, a key procedural step toward regulatory approval.
ARK’s filings come as other asset managers, including WisdomTree and ProShares, pursue similar crypto index ETF strategies using regulated futures. None of the proposals have yet been approved, leaving investors without a diversified crypto index ETF in the U.S. market.
While ARK has already made its mark in the spot bitcoin ETF space, the latest filings underscore the firm’s push to expand beyond single-asset products and capture broader crypto market exposure.
