21Shares, the issuer of the world’s largest suite of cryptocurrency-backed exchange-traded products (ETPs), and Cathie Wood’s ARK Investment Management LLC, the first retail fund manager to invest in bitcoin in 2015, have launched ARKB, the ARK 21Shares Bitcoin ETF. This announcement comes shortly after the US Securities Exchange Commission approved the listing and trading of a number of spot bitcoin exchange-traded product (ETP) shares.
The US Securities and Exchange Commission (SEC), on 10 January 2024, made a groundbreaking decision for the crypto industry, approving a series of ETFs (exchange-traded products) for the US market, legitimising Bitcoin as an independent asset class through a regulated product. In light of the new regulation, 21Shares, the Swiss startup that has been launching crypto ETP products throughout Europe over the last five years on the Swiss stock exchange SIX, has launched ARKB, the ARK 21Shares Bitcoin ETF to U.S. investors in collaboration with Ark Invest, run Cathie Wood, the Founder, CEO and CIO of ARK Invest.
The ARKB offers investors direct, regulated exposure to Bitcoin, the first decentralised currency and the largest digital asset by market cap. Moreover, the ARKB offers an institutional-grade custodian to store digital assets securely in cold storage, offering a higher level of protection relative to other custody options available to individual investors as well as safety and security. The ETF prioritizes the safety and security of investors' digital assets, mitigating risks associated with potential cyber threats or unauthorized access.
ARKB will waive its entire management fee for the Fund for the first 6 months or until assets reach $1 billion, whichever occurs first, with a total expense ratio (TER) of 0.21% thereafter. ARKB is a pivotal addition to the comprehensive suite of Bitcoin futures and Ethereum futures ETFs the team launched in mid-November. The full suite offers investors a robust set of options to introduce digital assets to portfolios.
With track records dating back to 2018 and 2014, respectively, 21Shares and ARK Invest have guided a wide array of global clients through multiple crypto market cycles with the resilience, adaptability, and foresight required to succeed. Both firms have demonstrated operational and investment excellence with proven client support, setting the gold standard for reliability in the dynamic world of digital asset investing. This collaboration aims to set a new precedent for innovation and transparency by leveraging their combined research, investment capabilities, operational excellence, and best-in-class client services.
(Press release/RAN)
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