Ark Invest Fund to Allow Participation in Canadian Bitcoin ETF

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In Brief
  • Ark Investment Management to launch funds that offer investment in Canada’s bitcoin ETF.

  • Ark Investment is an investment management firm based in New York City.

  • Canada is one of the few regions to have approved a bitcoin ETF.

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Investment management firm Ark Invest is set to launch a fund that will invest in Canadian bitcoin exchange-traded funds (ETF), according to an SEC filing.

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Digital assets fund manager Ark Investment Management is set to launch funds that offer investment in Canadian bitcoin ETF, according to an SEC filing. The application notes that the fund in question may invest in funds listed in Canada, specifically singling out Canadian bitcoin ETFs.

It notes that the risks associated with investing in the fund are similar to direct investing in bitcoin. Ark Invest also stated that “the Fund may trade at a significant premium or discount to NAV,” which is typical of ETFs.

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Ark Invest is an investment management firm based in New York City and has over $50 billion assets under management. The firm was founded by American Investor Cathie Wood in 2014.

Bitcoin and cryptocurrency ETFs are widely considered as an important step to making the market more accessible to the public. ETFs must adhere to stricter regulations, intended to protect investors. Investor protection and market manipulation have been key concerns for regulators in countries across the world.

Canada and Europe going forward with bitcoin ETFs — the U.S. hesitates

Canada is one of the few countries to have approved a bitcoin ETF. Among these are Brazil and a French fund that was approved by the European Union. These moves were lauded by those invested in the crypto market, who believe that it will bring some legitimacy and protection to the market.

But the United States has been dominating ETF news — unsurprisingly, given it is among the most popular markets for crypto. The U.S. SEC currently has over a dozen ETFs waiting for a decision. The prognosis is not looking good, however.

The SEC and its Chairman Gary Gensler have repeatedly cited investor protection as a concern. They do not seem likely to proceed with decisions until a regulatory framework is in place. However, the silver lining is that the U.S. appears to be preparing a regulatory framework.

Despite the uncertainty surrounding the SEC and ETF approvals, many big-name firms are also keen on ETFs. Goldman Sachs has submitted an ETF focused on DeFi to the SEC, doing so in July. This offers some hope that a positive decision will arrive sometime in the medium to long-term future, which investors will be pleased with.

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Rahul's cryptocurrency journey first began in 2014. With a postgraduate degree in finance, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has guided a number of startups to navigate the complex digital marketing and media outreach landscapes. His work has even influenced distinguished cryptocurrency exchanges and DeFi platforms worth millions of dollars.

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