Empowered Funds has applied to launch three Bitcoin futures ETFs using the Ark and 21Shares brands
ChainCatcher news, Empowered Funds has applied to launch three Bitcoin futures ETFs, with the fund names using the Ark Invest and 21Shares brands. The Ark 21Shares Active Bitcoin Futures ETF will primarily invest in Bitcoin futures traded on the Chicago Mercantile Exchange and will serve as the underlying ETF for the other two Bitcoin-related ETFs.Although the ETFs will use the 21Shares and Ark brands, the two companies will serve as the fund's sub-advisor and sub-sub-advisor, respectively. Empowered, a subsidiary of Alpha Architect operating under the name EA Advisers, will act as the fund's advisor. Ophelia Snyder, co-founder and president of 21Shares, will serve as the portfolio manager for these funds. According to data from Morningstar Direct, as of July 31, Empowered Funds' parent company Alpha Architect offers 15 ETFs with total assets of $1.9 billion. Over the year leading up to that date, investors have poured $717 million into these funds.
