ARK Invest files for two CoinDesk 20-linked crypto index ETFs

ARK Invest is seeking regulatory approval to launch two new crypto index ETFs tied to the CoinDesk 20, including one product that would exclude bitcoin from its portfolio.

The asset management firm led by Cathie Wood has filed with U.S. regulators for the pair of exchange-traded funds designed to track the CoinDesk 20, an index that measures the performance of the most liquid digital assets such as bitcoin, ether, solana, XRP and cardano.

Rather than holding cryptocurrencies directly, both proposed ETFs would use cash-settled, regulated futures contracts to replicate the index’s daily movements. One fund would aim to closely mirror the full CoinDesk 20, while the second would track the same benchmark minus bitcoin by combining long positions in CoinDesk 20 futures with short positions in bitcoin futures.

The products are intended to offer investors diversified exposure to the crypto market without the operational and custody challenges associated with owning digital assets outright. The ETFs would be listed on NYSE Arca, although the exchange has yet to submit a required 19b-4 filing with the U.S. Securities and Exchange Commission, a key step toward formal review and approval.

ARK’s filings come as other asset managers, including WisdomTree and ProShares, have proposed similar crypto index ETFs that rely on regulated futures. None of those products have received approval so far, leaving investors without a broadly diversified crypto ETF option.

While ARK has already established a presence in the market through its involvement in spot bitcoin ETFs, the latest filings point to a broader push to capture performance across the wider digital asset landscape.