Cathie Wood's ARK Invest throws weight behind new bitcoin futures ETF.

Cathie Wood's ARK Invest throws weight behind new bitcoin futures ETF.
Star stock picker Cathie Wood's ARK Invest has given its brand name to a new bitcoin futures ETF that will invest in cryptocurrency futures contracts and trade on the CBOE BZX Exchange, a filing with the U.S.
Securities and Exchange Commission showed.
The proposed ETF, called ARK 21Shares Bitcoin Futures Strategy, with the ticker symbol ARKA, is an attempt by the fund managers to take advantage of the surge in cryptocurrency this year.
To stay up to date with latest top stories, make sure to subscribe to this YouTube channel by clicking the button above this video!
However, the SEC has yet to approve a bitcoin ETF.
Other asset managers and exchanges such as Fidelity, CBOE Global Markets and Nasdaq are also waiting for the green light to launch ETFs tracking the digital currency.
Philadelphia-based Alpha Architect is the adviser for the fund and 21Shares, a cryptocurrency asset manager, is the sub-adviser.
Wood's firm will provide marketing support for the proposed ETF, according to the filing.