Cathie Wood’s Ark Invest is partnering with 21Shares to launch a suite of ETFs that will give investors solid options to include digital assets in their portfolios.
Two Companies Partner for ETF
The package aims to deliver long-term capital gains through strategic investments in Bitcoin and Ethereum futures contracts and the application of blockchain technologies.
It will invest in a mix that includes Bitcoin and Ethereum futures contracts, as well as publicly traded stocks of companies operating in a product blockchain industry.
Ark emphasized that the funds will still not offer the chance to invest directly in digital assets.
“Neither the funds nor the underlying ETF invest directly in Bitcoin or other digital assets or have direct exposure to spot Bitcoin,” Ark said. “Investors who want direct exposure to the Bitcoin price should consider an investment outside of funds,” he said.
This announcement comes at a time when both traditional finance and the crypto world are eagerly awaiting a decision on spot Bitcoin ETFs pursued by companies such as Fidelity, Grayscale and BlackRock.
Bitcoin price has risen on expectations that a spot Bitcoin ETF will be approved soon. While the SEC has approved funds that invest in Bitcoin futures, it has not yet approved a spot fund.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/two-giant-companies-announced-they-will-partnership-for-bitcoin-and-ethereum-etf/