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Finance

Cathie Wood's ARK Invest, 21Shares Team Up to Enter Bitcoin ETF Race

The "ARK 21Shares Bitcoin ETF" hopes to be the first to win approval from U.S. regulators.

By Kevin Reynolds, Zack Seward
AccessTimeIconJun 28, 2021 at 8:51 p.m. UTC
Updated Mar 8, 2024 at 4:27 p.m. UTC
Cathie Wood, CEO of Ark Investment Management
Cathie Wood, CEO of Ark Investment Management

Cathie Wood's ARK Investment Management has joined the race to get a bitcoin exchange-traded fund (ETF) approved by the U.S. Securities and Exchange Commission (SEC).

  • According to SEC filings, the noted tech investor is partnering with investment product firm 21Shares in submitting a bitcoin ETF application.
  • The "ARK 21Shares Bitcoin ETF" would tap 21Shares' expertise in spinning up crypto exchange-traded products (ETPs), mostly in Europe.
  • ARK and 21Shares join the swelling ranks of companies hoping this will be the year the SEC approves a bitcoin ETF.
  • The SEC has swatted down dozens of bitcoin ETF proposals in recent years.
  • Wood joined the board of Amun Holdings, the parent company of 21Shares, in May.
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    • UPDATE (June 29, 09:44 UTC): Adds 21Shares to headline.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Kevin Reynolds
    Kevin Reynolds

    Kevin Reynolds is Editor in Chief at CoinDesk. He owns bitcoin, ether, polygon and solana.

    Follow @KReyofCoinDesk on Twitter
    Zack Seward
    Zack Seward

    Zack Seward is CoinDesk’s contributing editor-at-large.

    Follow @zackseward on Twitter