Cathie Wood’s ARK Invest has filed with U.S. regulators to launch two cryptocurrency index exchange-traded funds tied to the CoinDesk 20 index, marking the firm’s first move toward broad-based crypto exposure beyond Bitcoin.
According to regulatory filings, the proposed ETFs would track the daily performance of the CoinDesk 20 index using regulated futures contracts, rather than holding digital assets directly. Both funds are expected to be listed on NYSE Arca, subject to approval.
One of the proposed products would provide exposure to Bitcoin alongside major altcoins including Ether, Solana, XRP, and Cardano, reflecting the composition of the CoinDesk 20 index, which tracks the largest cryptocurrencies by market capitalization.
The second ETF would exclude Bitcoin exposure entirely by combining long positions in CoinDesk 20 futures with short Bitcoin futures, allowing investors to gain diversified exposure to the broader crypto market without direct Bitcoin exposure.
The filings place ARK Invest in growing competition with other asset managers seeking to launch diversified crypto ETFs in the U.S. WisdomTree filed a registration for a CoinDesk 20 Fund in Delaware on September 22, 2025, a preliminary step toward a similar ETF product. ProShares followed with an SEC filing on October 22, 2025, for the ProShares CoinDesk Crypto 20 ETF, also structured around derivatives-based exposure.
The CoinDesk 20 index is designed to represent the performance of the largest and most liquid digital assets, offering a benchmark for broad crypto market exposure similar to equity market indices.
ARK Invest’s move signals increasing institutional interest in diversified cryptocurrency products as regulatory pathways expand beyond single-asset spot ETFs. Following the approval of spot Bitcoin ETFs in early 2024 and subsequent Ethereum products, asset managers have accelerated efforts to introduce index-style crypto exposure through regulated investment vehicles.
