Ark Investment Management has filed with the SEC for a spacious, futures-essentially based mostly entirely crypto ETF led by bitcoin, ethereum, and XRP, aiming to present scalable, diversified publicity to the digital asset market with out verbalize token ownership.
Ark Designs a Sizable Crypto ETF Led by BTC, ETH, and XRP The exhaust of a Market-Linked Construction Constructed for Scale
Ark Investment Management LLC filed a registration deliver with the U.S. Securities and Alternate Fee (SEC) on Jan. 23 for the Ark Coindesk 20 Crypto ETF, detailing plans for a futures-essentially based mostly entirely substitute-traded product offering diversified publicity to vital crypto property.
The submitting outlines a Delaware statutory belief structured as a consistently equipped commodity pool designed to trace the on each day foundation performance of the Coindesk 20 Index thru regulated futures contracts. The prospectus explains:
“The Ark Coindesk 20 Crypto ETF (the ‘Trust’), a Delaware Statutory Trust, is a consistently equipped commodity pool and an substitute-traded product that considerations in sort shares of commended curiosity (the ‘Shares’) that are anticipated to be listed on the NYSE Arca, Inc.”
The index is described as a spacious-essentially based mostly entirely benchmark meant to measure the performance of the tip 20 crypto property by market capitalization, excluding stablecoins, memecoins, privateness tokens, and sure diversified classifications under the index provider’s methodology. It is designed to be liquid, investable, and scalable, with quarterly rebalancing that reflects the evolving structure of the digital asset market.
As of Dec. 31, 2025, bitcoin, ethereum, XRP, solana, and cardano represented roughly 88.15% of the index’s complete weight, whereas the closing allocation used to be spread across 15 extra crypto property, each and every weighted below 3% and each and every exceeding $1 billion in market capitalization at that date.
Additional disclosures emphasize that the product doesn’t offer verbalize ownership of crypto property and as an different relies on futures markets and benchmark pricing mechanisms. The submitting states: “The Trust doesn’t put money into crypto property at once or shield an instantaneous publicity to ‘field’ crypto property. Merchants looking out for verbalize publicity to the price of crypto property can possess to peaceful hang into story an funding diversified than the Trust. The Trust would possibly maybe well maybe, nonetheless, possess indirect publicity to crypto property by virtue of its investments in Index Futures.”
Settlement pricing for the index futures relies on Coindesk Benchmark Reference Fee Settlement Calculations, which exhaust a volume-weighted moderate of five-2nd pricing intervals between 3 p.m. and 4 p.m. London time. The submitting also notes that all index constituents exceeded a $1 billion market capitalization threshold as of Dec. 31, 2025, and that the approximate notional price of the index futures contract at that date used to be $26,751. The structure reflects Ark’s skill to offering diversified crypto market publicity thru regulated futures infrastructure moderately than verbalize custody of digital property.
