Tag: 21Shares

ARK Invest Intensifies Investment in Robinhood

by Blockchain News

Cathie Wood, the renowned Bitcoin advocate and founder of ARK Invest, has recently intensified her firm’s investment in the cryptocurrency-friendly trading platform Robinhood (HOOD). ARK Invest made a significant move by acquiring 1.1 million Robinhood shares on November 8, amounting to an investment of over $9.5 million in a single day.

This acquisition involved three of ARK’s innovation-focused exchange-traded funds (ETFs): the ARK Innovation ETF (ARKK), the ARK Next Generation Internet ETF (ARKW), and the ARK Fintech Innovation ETF (ARKF). The ARKK fund led the charge, purchasing 888,500 shares of HOOD, which constituted 78% of the total shares bought that day.

Prior to this substantial purchase, ARK had been steadily buying Robinhood shares, albeit in smaller quantities compared to the latest transaction. For instance, the day before, ARK had acquired 259,628 shares for its ARKW fund, followed by another purchase of 197,285 shares on October 23.

This aggressive investment strategy coincided with Robinhood’s announcement of its plans to expand into Europe, specifically eyeing the launch of brokerage services in the United Kingdom in the coming weeks. This move by Robinhood was announced amidst a challenging period for the company, as its stock price (HOOD) dropped over 14% following an earnings report that fell short of expectations, primarily due to reduced trading volume and a shrinking customer base.

On November 8, the closing price of Robinhood’s stock was reported by TradingView as $8.37. In a parallel development, ARK has been divesting from the Grayscale Bitcoin Trust (GBTC). On the same day, ARKW sold 48,477 GBTC shares, totaling approximately $1.4 million.

Since October 24, ARK has offloaded a total of 427,573 GBTC shares, valued at around $11.9 million at the time of this report. This selling trend is nearing the total GBTC shares ARK sold in November 2022.

In addition to these market moves, ARK has announced plans to launch new ETFs focusing on Bitcoin and Ether futures contracts. This initiative will be in collaboration with 21Shares, ARK’s primary partner in cryptocurrency ETFs.

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ARK Invest and 21Shares Launch Innovative Digital Asset ETF Suite

by Blockchain News

ARK Invest, led by the pro-Bitcoin advocate Cathie Wood, and 21Shares, a renowned exchange-traded product (ETP) supplier, have announced the launch of a new suite of digital asset exchange-traded funds (ETFs). This collaboration marks a pivotal step in offering investors a comprehensive range of options for integrating digital assets into their investment portfolios.

The newly launched ETF suite is unique in its approach, combining on-chain insights with traditional investment indicators. This method aims to provide a more informed and robust investment strategy in the volatile world of cryptocurrencies. The suite includes the ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA), an actively managed ETF that targets 100% exposure to Bitcoin through futures contracts.

The suite, which is expected to start trading in the coming week, will be listed on the Chicago Board Options Exchange (CBOE). It comprises five different products, each designed to cater to various aspects of digital asset investment. Notably, the suite does not offer direct investment in spot Bitcoin, as highlighted in the firms’ disclaimer. Instead, it focuses on Bitcoin and Ether futures contracts and includes a product for investing in public stocks of blockchain-related companies, named the ARK 21Shares Blockchain and Digital Economy Innovation ETF. This product aims to provide investors with holistic exposure to the advancement of blockchain technology.

The launch has sparked discussions among experts, including Bloomberg analysts James Seyffart and Eric Balchunas, regarding the potential acceptance of Bitcoin ETF registrations by the United States Securities and Exchange Commission (SEC). While there is speculation that the SEC might approve all 12 ETF registrations, the analysts emphasize that this remains a hypothesis with no definitive evidence currently supporting it.

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On BX Swiss market, 21Shares launches crypto staking ETP

by Blockchain News

A cryptocurrency company by the name of 21Shares, which has its headquarters in Switzerland, is placing its bets on proof-of-stake (PoS) coins by launching a new cryptocurrency exchange-traded product (ETP) that is solely focused on staking. This decision was made in order to increase the company’s chances of success.

The business introduced a brand new exchange-traded product (ETP) on January 18th, which was given the name 21Shares Staking Basket Index ETP. It is a crypto staking index that is intended to monitor up to ten distinct Proof-of-Stake currencies simultaneously.

As a consequence of the merger with STAKE, 21Shares and its parent company, 21.co, now provide a combined total of 47 crypto exchange-traded product offerings (ETPs) to investors in 12 different markets and 9 different countries.

Despite this, the performance of the ETPs has been strong during the first few weeks of 2023, with the performance of AXTZ gaining 38% year-to-date and the performance of ASOL climbing 78% year-to-date respectively.

Krause highlighted that assets such as Solana, which is extensively related to the previous FTX exchange, have not had any influence on the goods that 21Shares has to offer and that this is something that he has been emphasizing throughout the conversation. He said that this is something that he has been highlighting throughout the conversation. As an example of what he meant, he said that “Solana, like practically all other crypto assets, had severe price drops in 2022 but did not suffer any fundamental damage that would bar its inclusion in the index.” This was said in order to demonstrate his argument. In particular, he was alluding to the assertion that “Solana did not suffer any fundamental degradation that would bar its inclusion in the index.”

The launch of STAKE on the market comes after a number of notable authorities from all around the world voiced their worries over the staking of cryptocurrencies.

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US SEC Rejects One River Spot Bitcoin ETF Application

by Blockchain News

The United States Securities and Exchange Commission (SEC) has rejected the spot Bitcoin Exchange Traded Fund (ETF) Application filed by One River Asset Management.

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The decision by the regulator to reject the application for a rule change to list One River Carbon Neutral Bitcoin Trust on the New York Stock Exchange Arca came a few days earlier than the anticipated June 2nd.

 

According to the SEC, the application did not address the core concerns bordering on price manipulation noting that the company utilized “the same standard used in its orders considering previous proposals to list bitcoin-based commodity trusts.”

 

Additionally, the SEC said it was not convinced about One River Asset Management’s fraud prevention measures and the decision was made irrespective of crypto valuation.

 

“…disapproval of this proposed rule change does not rest on an evaluation of whether bitcoin or blockchain technology more generally, has utility or value as an innovation or an investment.”

 

The rejection of One River’s application is a strong testament to the fact that the SEC is not ready at this time to approve a spot Bitcoin ETF. While it is unclear the measures the SEC hopes to make before it can approve a full-fledge spot ETF, Hedge Funds and managers looking to break this record are largely unrelenting in their push.

 

After its Bitcoin ETF was rejected back in early April, Ark Investments and 21Shares have refiled their application in what is hoped will meet the SEC’s requirements. Grayscale Investments is also expecting replies from the SEC with respect to the conversion of its Grayscale Bitcoin Trust (GBTC) to a full-fledged crypto ETF.

 

Beyond his optimism, Grayscale’s CEO, Michael Sonnensheim has employed a series of targeted market advertisements and strategies to force the SEC’s hand in approving its products. Failure to do this might see the Michael-lead company take the SEC to court as threatened.


For One River, the rejection came despite the firm’s board playing host to Jay Clayton, the former SEC Chairman.

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Ark Invest Refiles Application for Bitcoin Spot ETF Alongside 21 Shares

by Blockchain News

Ark Investment Management, the investment company, tagged with Cathie Wood, is taking another dig at a spot Bitcoin Exchange Traded Fund (ETF) product.

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This latest application is still filed in partnership with European ETF issuer, 21Shares. It came after about a month when the United States Securities and Exchange Commission (SEC) rejected the application for the same product.

The new application contains a proposed rule change from the Chicago Board Options Exchange (CBOE) BZX Exchange, and per Bloomberg ETF analyst Henry Jim, the SEC has until January 24, 2023, to either approve or reject the ARK 21Shares Bitcoin ETF.

The race for a spot Bitcoin ETF has continued to heat up, despite the US SEC consistently rejecting a series of applications for such a project. The investment management firms that have been applying for these ETFs said the demand for the product is on the rise amongst Bitcoin investors, a scenario that shows that many are still not satisfied with the ProShares Bitcoin futures ETF product approved last year alongside others.

Ark Invest rejoining the race for the approval process is a bold one and the firm assured that its product seeks to “achieve its investment objective, the trust will hold Bitcoin and will value the shares daily based on the index.” 

Besides Ark Invest, Grayscale Investments is also awaiting the final decision to convert its Bitcoin Trust into a full-fledged Bitcoin spot ETF. Under the leadership of Michael Sonnenshein, the company has taken a more proactive approach, launching a campaign that will get members of the public to send messages compelling the SEC to say ‘YES’ to its application.

Should the SEC disapprove, Sonnenshein said he is ready to take the regulator to court, which showcases that the investment expert sees no distinction between the GBTC, futures-based ETF, and the spot ETF application proving too hard to get.

 

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21Shares Debuts The Sandbox-Focused ETP Product

by Blockchain News

The growth in the broader digital currency ecosystem has informed the sustained launch of products by venture capital firms to help their clients gain exposure to the nascent industry.

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In one of such moves, 21Shares, a Zug-Switzerland-based digital currency asset manager, has launched a metaverse product with a focus on The Sandbox.

Ranking as its 30th product to date, the single asset investment is billed to track the price of the SAND token. The SAND product is designed to give investors the easiest and safest way to invest in The Sandbox token that powers The Sandbox platform, the decentralized virtual world providing gaming experiences.

A 2.5% fee will be levied, and this seems not to matter as Ophelia Snyder, one of the co-founders of 21Shares confirmed that investors’ preferences are gradually shifting from Bitcoin (BTC) and Ethereum (ETH) assets respectively.

“The conversation has really shifted away from, Is bitcoin going to exist in three years? To what will the crypto ecosystem look like in three years? And that means that the types of discussions we’re having with institutional clients are much more sophisticated…and metaverse is one of those things where you’re starting to see real themes emerge in crypto,” says Snyder. 

21Shares occupies a very pivotal position in today’s cryptocurrency industry and has generally pioneered innovative exchange-traded products across the board.

Back in July 2021, 21Shares announced a partnership with the German online financial services bank, Comdirect, to diversify more options by providing cryptocurrency ETPs to their customer savings accounts.

The company has also been playing a very prominent role in seeing the U.S. get its first spot Bitcoin ETF product. However, its efforts in this regard were dashed earlier this week as the United States Securities and Exchange Commission (SEC) rejected the company’s spot application for a Bitcoin ETF it filed in conjunction with Cathie Wood’s Ark Invest.

The latest SAND project comes off as a solace for the firm as it redirects its strategy in a bid to offer investors avenues to embrace crypto innovations.

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21Shares Debuts The Sandbox-Focused ETP Product

by Blockchain News

The growth in the broader digital currency ecosystem has informed the sustained launch of products by venture capital firms to help their clients gain exposure to the nascent industry.

SND3.jpg

In one of such moves, 21Shares, a Zug-Switzerland-based digital currency asset manager, has launched a metaverse product with a focus on The Sandbox.

Ranking as its 30th product to date, the single asset investment is billed to track the price of the SAND token. The SAND product is designed to give investors the easiest and safest way to invest in The Sandbox token that powers The Sandbox platform, the decentralized virtual world providing gaming experiences.

A 2.5% fee will be levied, and this seems not to matter as Ophelia Snyder, one of the co-founders of 21Shares confirmed that investors’ preferences are gradually shifting from Bitcoin (BTC) and Ethereum (ETH) assets respectively.

“The conversation has really shifted away from, Is bitcoin going to exist in three years? To what will the crypto ecosystem look like in three years? And that means that the types of discussions we’re having with institutional clients are much more sophisticated…and metaverse is one of those things where you’re starting to see real themes emerge in crypto,” says Snyder. 

21Shares occupies a very pivotal position in today’s cryptocurrency industry and has generally pioneered innovative exchange-traded products across the board.

Back in July 2021, 21Shares announced a partnership with the German online financial services bank, Comdirect, to diversify more options by providing cryptocurrency ETPs to their customer savings accounts.

The company has also been playing a very prominent role in seeing the U.S. get its first spot Bitcoin ETF product. However, its efforts in this regard were dashed earlier this week as the United States Securities and Exchange Commission (SEC) rejected the company’s spot application for a Bitcoin ETF it filed in conjunction with Cathie Wood’s Ark Invest.

The latest SAND project comes off as a solace for the firm as it redirects its strategy in a bid to offer investors avenues to embrace crypto innovations.

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Digital ETP issuer 21Shares Cooperates with German Bank Comdirect to Provide Crypto ETPs to Savings Accounts

by Blockchain News

21Shares, a well-known cryptocurrency ETP issuer, announced a partnership with the German online financial services bank Comdirect to diversify the option of cryptocurrency ETPs to customer savings accounts.

According to the official report on July 13 by 21Shares, this plan will immediately take effect, and 21Shares has become the exclusive provider of encrypted ETPs reserved as an online broker savings plan (Spar plan).

Currently, 11 ETP products of 21Shares are available on the Comdirect platform with zero commission. The CEO of 21Shares, Hany Rashwan, welcomed the latest announcement and said that:

“We are very excited to offer German clients who wish to add Bitcoin and other crypto assets to their savings plan a compelling option to do so thanks to Comdirect.”

21Shares stated that this collaboration with Comdirect is “another milestone in democratisation crypto investments”. This is the first example where investors can gain cryptocurrency exposure in their savings accounts.

Comdirect Produkt Manager and Crypto saving plan Initiator, Rene Louis Delrieux added that:

“For an outstanding customer experience, investors are now able to use crypto ETPs by 21Shares which fits the needs of our demanding clients and ensures market participation. This additional service adds flexibility for immediate use. Together with our partner 21Shares, comdirect has succeeded in significantly bridging crypto investments to retirement plans, something that our clients have longed for a while.”

21Shares has been committed to integrating digital assets into the traditional financial sector. As reported by Blockchain News last Monday, 21Shares announced that the company has cooperated with GHCO, an issuer-centric liquidity provider committed to building transparent and accessible financial markets to list Its Bitcoin ETP (ABTC ) on the Aquis exchange.

And at the end of last month, Cathie Wood, a top wall street investor and founder and CEO of ARK Investment management firm, has cooperated with 21Shares, an issuer of European exchange-traded products, to apply for the Bitcoin ETF-Ark21Shares ETF.

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Cathie Wood’s ARK Invest Plans Bitcoin ETF

by Cryptobriefing


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Cathie Wood’s ARK Invest enters the Bitcoin ETF race.

ARK Invest Plans to Diversify Its Offerings

ARK Invest is planning a Bitcoin ETF in partnership with 21Shares. 

The news came out in a Monday S-1 filing with the Securities and Exchange Commission (SEC). 


The proposed ETF will give ARK Invest customers direct exposure to Bitcoin on the stock market. Price will be determined through the S&P Bitcoin Index, an aggregate of price information from several leading exchanges such as Bitfinex, Gemini, and Kraken. 

Other big names look to be involved too. Coinbase will act as the custodian for the Bitcoin behind the ETF, while the Bank of New York Mellon will administrate and transfer the funds. 

Ark Invest has a track record of launching ETFs for emerging markets. The firm is well-known for its Innovation ETF, which contains roughly half of ARK’s assets. Additionally, in a move that surprised investors, the firm launched a Space Exploration & Innovation ETF. 



As crypto asset funds gain popularity, oversight from regulatory agencies is becoming more stringent. The SEC recently issued extensions to several Bitcoin ETF applications to allow more time to examine the proposals. If approved, ARK’s ETF should attract new investors hoping to gain exposure to Bitcoin in their portfolios. 

ARK has been famously bullish on Bitcoin over the last few years. The firm’s founder Cathie Wood recently gave a $500,000 price target for Bitcoin after the asset suffered a plunge in May. It’s yet to fully recover, currently trading 45% off all-time highs. 

Disclosure: At the time of writing, the author of this feature held ETH and BTC. 

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Investment product issuer 21Shares will list Bitcoin ETP on Aquis Exchange

by Cointelegraph

Switzerland-based 21Shares, formerly known as Amun, has said it will make its Bitcoin (BTC) exchange-traded product available to traders in the United Kingdom through the Aquis Exchange.

According to an announcement from 21Shares, its Bitcoin exchange-traded product, or ETP, will be available to professional investors on the Aquis Exchange this summer. U.K.-based firm GHCO will be acting as the crypto ETP’s liquidity provider, with 21Shares saying the product would be “engineered like an [exchange-traded fund].”

“ETPs trade on exchanges in a similar manner to a listed stock and institutional investors in the U.K. will get exposure to Bitcoin via a regulated framework and structure which they are already accustomed to,” said 21Shares. “The ETP has been designed to provide institutional U.K. investors with secure and cost-effective exposure to Bitcoin without the associated Bitcoin custody and security challenges.”

21Shares reported more than $1.5 billion in assets under management across 14 ETPs available on European stock exchanges. One unit of the firm’s Bitcoin ETP on Aquis will reportedly represent exposure to 0.00035 BTC, or roughly $12.54, at the time of publication.

A few companies have begun expanding their crypto products to the U.K. market. Also on Monday, crypto investment manager ETC Group’s Bitcoin ETP began trading on the Aquis Exchange in London and Paris. However, the country’s financial watchdog, the Financial Conduct Authority, banned the sale of crypto derivatives to retail traders in January.