Empowered Funds has applied to launch three bitcoin futures ETFs that will use the Ark Invest and 21Shares brands in their names, the Financial Times reports.

The Ark 21Shares Active Bitcoin Futures fund will invest primarily in bitcoin futures traded on the Chicago Mercantile Exchange. The fund will be benchmarked against two other bitcoin-ETFs, the publication said.

In turn, the second fund – Ark 21Shares Active On-Chain Bitcoin Strategy – will allocate at least 25% of its assets to the Digital Asset and Blockchain Strategy fund, which will invest in the underlying bitcoin-ETF alongside “investments in companies related to the blockchain, digital asset, technology and fintech industries,” the publication specifies.

In August, Bloomberg predicted that the SEC was ready to approve applications for Ethereum-ETF futures. It is unlikely that the regulator will not approve products based on futures contracts on the second-largest cryptocurrency, sources familiar with the situation told the publication.

UK-based Jacobi Asset Management launched Europe’s first spot bitcoin ETF in August, almost two years after approval.

Earlier, the SEC postponed a decision on Kathy Wood’s ARK 21Shares bitcoin ETF application. The SEC is now considering more than 12 applications for spot bitcoin ETFs. On Aug. 8, Wood said she expects the SEC to approve several bitcoin ETFs at once. In June, her ARK Invest reported that the company was first in line for potential bitcoin-ETF approval, as it had submitted an application to the SEC before others.

By Linda

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