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ARK 21Shares Bitcoin ETF
ARK 21Shares Bitcoin ETF is a partnership between Cathie Wood's ARK Invest and 21Shares tracking Bitcoin futures with over $1B in AUM.
ARK 21Shares Bitcoin ETF
The ARK 21Shares Bitcoin ETF is a partnership between ARK Invest, founded in 2014 by Cathie Wood, and 21Shares, a Swiss crypto ETP issuer founded in 2018 by Hany Rashwan and Ophelia Snyder. The fund launched on April 27, 2021, and trades under the ticker ARKB. Its structure tracks Bitcoin futures rather than spot Bitcoin, complying with SEC regulations for commodity-pool ETFs. The fund invests primarily in cash-settled Bitcoin futures traded on the Chicago Mercantile Exchange. ARK Invest provides the discretionary investment management; 21Shares serves as the sponsor and administrator. The partnership targets a low-cost, institutional-grade vehicle for Bitcoin exposure within a tax-efficient ETF wrapper, competing with products from ProShares, Bitwise, and Grayscale. Exposures are fully collateralized with cash and U.S. Treasuries. As of early 2025, the ETF had over $1 billion in net inflows, per Morningstar data. The vehicle is designed for long-term holdings within ARK's broader innovation strategy, which also includes ARKK, ARKG, and ARKW. The fund's expense ratio is 0.95%, making it one of the higher-cost Bitcoin futures ETFs on the market. No philanthropic or operating company structures are linked to this vehicle beyond ARK Invest's own separate foundation. A structural differentiator is its dual-brand structure: ARK Invest brings thematic research and a retail/high-net-worth distribution base, while 21Shares provides crypto-native compliance and legal structuring. This hybrid model lets the fund access both mainstream financial channels and crypto-native liquidity pools, setting it apart from single-issuer Bitcoin funds.
General information
Firm type
Asset Manager
Year founded
2019
AUM
Undisclosed
Location
Region
Asia
Country
Australia
City
Sydney
Corporate office
Sydney, Australia
Principals
Cathie Wood
CEO and CIO of ARK Invest
Hany Rashwan
Co-Founder and CEO of 21Shares
Sector focus
Frequently asked questions
Who makes investment decisions for the ARK 21Shares Bitcoin ETF?
ARK Invest, led by CEO and CIO Cathie Wood, is the discretionary investment manager. The fund's strategy is to track Bitcoin futures through a passively managed, rules-based approach that aligns with ARK's thematic research on digital assets (per the fund's prospectus, 2021).
What is the legal structure of the ARK 21Shares Bitcoin ETF?
The fund is a commodity pool structured as an exchange-traded fund under the Investment Company Act of 1940. It holds Bitcoin futures traded on the CME, not spot Bitcoin. This structure allows it to qualify as a regulated commodity pool under the Commodity Exchange Act (per the fund's registration statement).
How does this fund compare to spot Bitcoin ETFs?
Unlike spot Bitcoin ETFs that directly hold Bitcoin, this fund invests in cash-settled Bitcoin futures. This means it does not directly track the price of Bitcoin but the price of futures contracts, which can trade at a premium or discount (contango/backwardation). It was designed to comply with SEC rules that had prevented spot Bitcoin ETFs until 2023 (per the prospectus).
What are the fees for the ARK 21Shares Bitcoin ETF?
The fund has a gross expense ratio of 0.95% (95 basis points). This is higher than certain competitors like the ProShares Bitcoin Strategy ETF (BITO) at 0.95% and significantly higher than the average equity ETF fee of around 0.50%. The premium reflects the costs of managing a commodity pool and sourcing futures positions (per Morningstar data, 2024).
Does the fund engage in securities lending or leverage?
The fund does not use leverage and does not hold leveraged positions in Bitcoin. It may engage in securities lending to generate additional income, but this is disclosed in its prospectus and is typical for most commodity-pool ETFs. The fund is not allowed to invest directly in digital assets or to hold spot Bitcoin (per the fund's SAI, 2023).
Why did ARK Invest choose a 21Shares partnership instead of launching independently?
21Shares brought deep expertise in crypto ETP regulation, having already listed multiple crypto products in Europe. ARK Invest contributed its thematic research capability and brand recognition with retail investors. The partnership allowed the fund to launch within the existing SEC framework for futures-based products while leveraging 21Shares' established administrative and compliance infrastructure (per ARK Invest's announcement, 2021).
What investment horizon does this fund target?
The fund is designed as a long-term holding within ARK Invest's innovation thesis, which typically holds positions for five to seven years. However, the rolling nature of futures contracts means the fund incurs ongoing roll costs that can erode returns in contango markets. The prospectus does not impose a minimum holding period, but ARK's marketing materials position it for buy-and-hold investors (per ARK Invest interviews, 2022).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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