ARK Invest has filed an S-1 with the U.S. Securities and Exchange Commission to launch two crypto index ETFs designed to track the performance of the CoinDesk 20 Index. The funds would cover a broad slate of assets, including Bitcoin, Ethereum, Solana, XRP, ADA, Chainlink, SUI, and AVAX. ARK’s ex-Bitcoin version would exclude Bitcoin and focus on the rest of the CoinDesk 20 constituents. Both funds are targeting listings on NYSE Arca.
The ETFs would use a futures-based approach rather than holding crypto outright, with the standard fund pursuing CoinDesk 20 futures exposure and the ex-Bitcoin fund combining long futures with short CME Bitcoin futures to offset Bitcoin movements. This structure marks a notable departure from traditional spot exposure and aligns with a broader industry shift toward index-based crypto products.
Industry observers see ARK Invest’s move as intensifying competition in index-based crypto products, with WisdomTree having filed a similar fund and Grayscale pursuing a Binance Coin (BNB) ETF, highlighting growing proposals pending SEC approval. Analysts say SEC approval could influence liquidity and trading dynamics across altcoins as the sector evolves.
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