ARK Invest has teamed up with 21Shares to file applications for two exchange-traded funds (ETFs) focused on cryptocurrency futures
These contracts are regulated by the Commodity Futures Trading Commission and are likely to be traded on exchanges like the Chicago Mercantile Exchange .
It's worth noting that these funds will not invest directly in cryptocurrencies but will instead seek exposure through futures contracts. It's important to note that the funds do not offer direct exposure to"spot" prices of Ethereum or Bitcoin, and therefore might not fully capture the volatility or potential upside of the underlying assets.
These investment products also come with inherent risks such as"contango" and"backwardation," which could affect pricing and erode returns. The SEC’s approval or disapproval of these ETF applications will be closely watched. As reported by U.Today, the regulator is gearing up to greenlight a host of cryptocurrency ETFs.
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