ARK Invest, 21Shares Jointly File for Ethereum ETF Approval

ARK Invest and 21Shares have teamed up and submitted an application for two Ethereum futures ETFs.

Cathie Wood's praying for Ethereum ETF.
Created by Kornelija Poderskytė from DailyCoin
  • Ark Invest and 21Shares have jointly applied for Ethereum ETF approval.
  • Previous spot Bitcoin ETF applications by the two investment firms were rebuffed.
  • All eyes are on the SEC as the application list grows.

Investment firms ARK Invest and 21Shares have jointly filed an application for two Ethereum futures exchange-traded funds (ETFs). The development comes after Empowered Funds recently applied to list three Bitcoin ETFs under the branding of the two investment firms.

The Proposed Ethereum ETFs

The filing, dated August 24, proposes two Ethereum futures ETFs, including the ARK 21Shares Active Ethereum Futures ETF (ARKZ) and the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (ARKY).


According to the document, 25% of funds in the ARKZ ETF would be invested in cash-settled Ethereum futures contracts traded on global derivatives marketplaces, such as the Chicago Mercantile Exchange (CME). The remaining share of the funds may also be invested in money market instruments, repurchase agreements, and U.S. Treasury securities.

The ARKY ETF will comprise both Bitcoin and Ethereum futures contracts. Empowered Funds has been nominated as the investment advisor for the two Ethereum ETFs.

This is the third time ARK Invest and 21shares are jointly submitting a crypto futures ETF application after the SEC rebuffed their first two attempts in March 2022 and January 2023.

The SEC rejected spot Bitcoin ETF applications because of inadequate investor protection mechanisms and potential market manipulation.

The Widening List of Pending ETF Approvals

As Ark Invest and 21Shares give it a third go together, the list of investment companies awaiting the SEC to approve their Ethereum futures ETF applications keeps growing. The regulator has been inundated by applications, with over 12 submitted within the last month alone.


Investment firms on the regulator’s queue include BlackRock, Bitwise, VanEck, WisdomTree, Volatility Shares, ProShares, Roundhill Financial, Grayscale Investments, Invesco, and Fidelity.  

Read why Bitstamp axed ETH staking as the SEC tightens oversight:

Bitstamp Axes ETH Staking in Wake of SEC Lawsuits

Here are the thoughts of ex-SEC Chief on the future of spot Bitcoin ETF:

SEC Unlikely to Approve Spot Bitcoin ETF: Ex-SEC Chief

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.