Ark Invest and 21Shares, two companies pursuing a spot bitcoin exchange-traded fund (ETF), are also planning to launch three other cryptocurrency funds. These funds are proposed by Empowered Funds, a subsidiary of ETF platform Alpha Architect, with Ark Invest and 21Shares serving as sub-advisers. The U.S. Securities and Exchange Commission (SEC) announced that it would review the proposed Ark 21Shares Bitcoin ETF, which has never been approved by the regulator before. In the meantime, the ProShares Bitcoin Strategy ETF and the Global X Blockchain and Bitcoin Strategy ETF have seen significant returns in 2023.
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