Odds & Ends: ARK Files For Ether Spot Fund

Cathie Wood’s ARK Investment Management filed to launch a spot ethereum ETF Wednesday.  

The fund would hold the cryptocurrency ether, based on the Ethereum blockchain. The filing comes on the heels of Grayscale Investments' victory in court against the Securities and Exchange Commission, which forced the regulatory body to re-review Grayscale’s application to convert its bitcoin trust into a spot bitcoin exchange-traded fund.  

Bitwise Asset Management and Valkyrie Investments have also both filed to launch ether futures ETFs.  

However, both future-based and spot ether ETFs have a problem in common. The SEC has not explicitly said what kind of asset ether is, making approval difficult without a decision. 

More Than Just ARK

Also this week, Tuttle Capital Management, filed to open two ETFs focused on courting right-wing investors.  

Tuttle grabbed headlines earlier this year when it launched the Tuttle Inverse Cramer Tracker ETF (SJIM) which invests in the opposite direction of stock picks made by CNBC media personality Jim Cramer. 

Now the fund shop has filed to launch two ETFs catering to the values of conservative investors. The Tuttle Capital Inverse Socially Conscious ETF (GWGB) is an actively managed fund that would buy stock in companies it considers to be politically neutral or conservative-leaning, while shorting companies it sees as being “woke.” The other ETF would invest in an index of companies that make guns, ammunition, security equipment and equipment for police. 

Launches: 

Wednesday: 

• Madison Short-Term Strategic Income ETF (MSTI) 
• Return Stacked U.S. Stocks & Managed Futures ETF (RSST) 
• F/m Genoa Opportunistic Income ETF (XFIX) 

Thursday: KraneShares Global Luxury Index ETF (KLXY) 

Closures: 

Wednesday: BNY Mellon Short Duration Corporate Bond ETF (BKSB) 

Thursday: iBET Sports Betting & Gaming ETF (IBET) 

ETF Changes: 

Tuesday: The following ETFs changed their Names: 

• Harbor Corporate Culture ETF (HAPI) changed to Harbor Human Capital Factor US Large Cap ETF. 
• Harbor Corporate Culture Small Cap ETF (HAPS) changed to Harbor Human Capital Factor US Small Cap ETF. 
• Harbor Corporate Culture Leaders ETF (HAPY) changed to Harbor Human Capital Factor Unconstrained ETF. 

Contact Gabe Alpert at [email protected]