On January 23, 2026, ARK Invest, the asset management firm led by Cathie Wood, took significant steps in the cryptocurrency space by filing two S-1 registration statements with the U.S. Securities and Exchange Commission (SEC). These filings are for new exchange-traded funds (ETFs) that are linked to the CoinDesk 20 Index, marking ARK”s most extensive initiative to date aimed at providing investors with diversified exposure to the digital asset market.
The first proposed ETF, named the ARK CoinDesk 20 Crypto ETF, aims to replicate the performance of the complete CoinDesk 20 Index. This index tracks the top twenty digital assets based on market capitalization, including Bitcoin along with other major tokens like Ethereum and leading smart contract platforms.
In contrast, the second product, the ARK CoinDesk 20 ex-Bitcoin Crypto ETF, adopts a more selective strategy. It follows the same index methodology but excludes Bitcoin entirely, redirecting its focus towards prominent altcoins such as Ethereum, Solana, and XRP. This dual-fund structure underlines ARK”s perspective that Bitcoin serves as a unique monetary asset, while the remainder of the crypto market embodies an innovative ecosystem driven by smart contracts and decentralized technologies.
The filings reveal that Bitcoin constitutes approximately 32.4% of the CoinDesk 20 Index, with Ethereum at 20.7% and XRP at 19.9%, while the remaining 27% is allocated among other significant digital currencies. The substantial weighting allocated to XRP is particularly noteworthy, reflecting ARK”s increasing confidence in its institutional relevance, especially following recent regulatory clarifications and its expanding role in cross-border payment solutions.
Unlike conventional spot crypto ETFs that directly hold the assets, both ARK ETFs are structured to gain exposure through futures contracts tied to the CoinDesk 20 Index. This approach aligns with existing frameworks for commodity and crypto index products and could provide a more straightforward regulatory pathway in the upcoming months.
Pending regulatory approval, ARK aims to list both ETFs on NYSE Arca. This strategic move aligns with ARK”s forecast in its “Big Ideas 2026” outlook, which anticipates that the digital asset sector could grow to a staggering $28 trillion by 2030, driven by increased institutional adoption, financial tokenization, and the integration of blockchain across capital markets.
By offering both a comprehensive crypto ETF and a Bitcoin-excluded alternative, ARK is strategically positioning itself to cater to a diverse range of investors. This includes those who view Bitcoin as a form of digital gold, alongside those seeking targeted investments in the rapidly evolving altcoin sector.
