ARK Invest Enters Cryptocurrency Market
ARK Invest, led by renowned investor Cathie Wood, has taken a significant step into the cryptocurrency market by submitting a request to U.S. regulators to establish two separate crypto index exchange-traded funds (ETFs) that will be linked to the CoinDesk 20 index. This move represents the firm’s initial attempt to broaden its cryptocurrency exposure beyond just Bitcoin.
Details of the Proposed ETFs
The proposed ETFs are designed to monitor the daily fluctuations of the CoinDesk 20 index through regulated futures contracts, thus avoiding direct ownership of cryptocurrencies. One of these funds is set to feature Bitcoin alongside leading altcoins such as Ether, Solana, XRP, and Cardano. Conversely, the second fund will not include Bitcoin at all, instead utilizing a strategy that combines long index futures and short bitcoin futures.
Market Competition and Other Developments
Plans for both ETFs include a listing on NYSE Arca, placing ARK in direct competition with other firms seeking to expand their offerings of diversified crypto ETFs. As the market heats up, other companies are also making moves in this space:
Just days earlier, on September 22, 2025, WisdomTree initiated the registration process for a CoinDesk 20 Fund in Delaware, paving the way for a U.S.-based ETF linked to the CoinDesk 20 index which encompasses major cryptocurrencies ranked by market capitalization.
Additionally, on October 22, 2025, ProShares filed with the SEC for their own ProShares CoinDesk Crypto 20 ETF, aiming to launch a diversified crypto ETF that similarly aims to track the CoinDesk 20 index through derivative instruments instead of physically owned assets.
