Highlights: ARK filed two ETFs with the SEC to track the CoinDesk Crypto 20 Index. The first ETF provides crypto exposure through futures, without Highlights: ARK filed two ETFs with the SEC to track the CoinDesk Crypto 20 Index. The first ETF provides crypto exposure through futures, without

Cathie Wood’s ARK Invest Files Two CoinDesk 20 Crypto ETFs

2026/01/24 20:31
4 min read

Highlights:

  • ARK filed two ETFs with the SEC to track the CoinDesk Crypto 20 Index.
  • The first ETF provides crypto exposure through futures, without owning actual digital assets.
  • The second ETF excludes Bitcoin, using futures to offset Bitcoin price movements effectively.

Cathie Wood’s ARK Investment Management filed two exchange-traded fund applications with the United States Securities and Exchange Commission on January 23. Both filings aim to track the CoinDesk Crypto 20 Index, which measures the performance of twenty large digital assets by adjusted market value. ARK plans to list both products on NYSE Arca after regulatory approval. The move expands access to diversified crypto exposure within traditional financial markets instead of limiting investment to single digital assets.

The first filing is titled the ARK CoinDesk 20 Crypto ETF. The fund seeks to track the daily performance of the full CoinDesk Crypto 20 Index through regulated futures contracts rather than direct ownership of digital assets. It includes Bitcoin, Ethereum, XRP, Solana, Cardano, Chainlink, Avalanche, Litecoin, Hedera, Cronos, Uniswap, Aave, Stellar, Bitcoin Cash, Sui, Near, Aptos, Internet Computer, Polkadot ecosystem token Pol, and Polkadot.

The structure allows investors to gain price exposure without managing custody of digital assets. Cash and similar instruments may be used to support futures positions and liquidity management. Similar products are emerging across the asset management sector. WisdomTree previously registered a CoinDesk 20 fund in Delaware as an early step toward a United States-listed product. ProShares is also preparing a derivative-based CoinDesk Crypto 20 ETF.

ARK CoinDesk 20 ex-Bitcoin Crypto ETF

The second product is called the ARK CoinDesk 20 ex Bitcoin Crypto ETF, and it is made for investors who want crypto exposure without being affected by Bitcoin’s price moves. The fund follows the CoinDesk 20 index but removes the influence of Bitcoin and Bitcoin Cash. It does this by buying futures contracts that track the CoinDesk 20 and, at the same time, selling Bitcoin futures on the Chicago Mercantile Exchange. When Bitcoin goes up or down, the loss or gain from the short Bitcoin futures balances it out. This keeps the fund focused on the prices of the other digital assets in the index.

ARK Stays Bullish on Bitcoin and Expands Tech Investments

One of ARK’s ETFs does not include Bitcoin. Still, ARK is positive on crypto. David Puell, a research analyst and portfolio manager for digital assets at ARK Invest, said the next phase of Bitcoin depends on how much investors hold and which products they use. ETFs and digital asset treasuries now hold about 12% of all Bitcoin.

This affects prices through 2025 and into 2026. Early holders take profits at peaks, but demand stays strong. ARK expects Bitcoin could reach $300,000 in a bear case, $710,000 as a base case, and $1.5 million in a bull case. 

ARK remained active in other markets alongside crypto filings. On January 21, the firm purchased $7.27 million worth of Netflix shares through its Next Generation Internet ETF. Netflix stock declined over 31% in the past six months but remains up 150% over three years. During the same period, ARK Genomic Revolution and ARK Innovation ETFs collectively purchased 89,501 shares of Tempus AI, while ARKQ added 111,439 shares of WeRide Inc. These moves reflect ARK’s ongoing diversification across technology and innovation sectors.

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