Ark Investment Management filed with the SEC for a broad futures-based crypto ETF, led by Bitcoin, Ethereum and XRPaimed at providing scalable and diversified exposure to the digital asset market without direct token ownership.
Ark designs large crypto ETF led by BTC, ETH and XRP Use a market-linked structure designed to scale
Ark Investment Management LLC filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on Jan. 23 for the Ark Coindesk 20 Crypto ETF, detailing plans for a futures exchange-traded product providing diversified exposure to major crypto assets.
The outline files a Delaware statutory trust structured as a continuously offered commodity pool designed to track the daily performance of the Coindesk 20 Index via regulated futures contracts. The prospect explains:
“The Ark Coindesk 20 Crypto ETF (the “Trust”), a Delaware statutory trust, is a continuously offered commodity pool and exchange-traded product that issues shares of beneficial interest common stock (the “Shares”) expected to be listed on the NYSE Arca, Inc.”
The index is described as a large-scale benchmark intended to measure the performance of the top 20 crypto assets by market capitalization, excluding stablecoins, memecoins, privacy tokens and certain other classifications according to the index provider’s methodology. It is designed to be liquid, investable and scalable, with quarterly rebalancing that reflects the changing structure of the digital asset market.
As of December 31, 2025, Bitcoin, Ethereum, XRPSolana and Cardano accounted for approximately 88.15% of the index’s total weighting, while the remaining allocation was spread across 15 additional crypto assets, each weighted below 3% and each exceeding $1 billion in market capitalization as of that date.
Source: Ark SEC filing
Other information highlights that the product does not offer direct ownership of crypto assets and instead relies on futures markets and reference pricing mechanisms. The filing states: “The Trust does not invest directly in crypto assets and does not maintain direct exposure to ‘spot’ crypto assets. Investors seeking direct exposure to the price of crypto assets should consider an investment other than the Trust. The Trust may, however, have indirect exposure to crypto assets through its investments in index futures.”
Settlement pricing for index futures is based on Coindesk’s Benchmark Rate settlement calculations, which use a volume-weighted average of five-second pricing intervals between 3 p.m. and 4 p.m. London time. The filing also indicates that all index constituents exceeded a market capitalization threshold of $1 billion as of December 31, 2025 and that the approximate domestic value of the index futures contract on that date was $26,751. The structure reflects Ark’s approach to providing diversified exposure to the crypto market through a regulated futures infrastructure rather than direct custody of digital assets.