ARK 21Shares Active Bitcoin Futures Strategy ETF
ARKA
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- ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA) is an actively managed exchange-traded fund that provides targeted exposure to bitcoin through investments in standardized, cash-settled bitcoin futures contracts traded on commodity exchanges registered with the Commodity Futures Trading Commission, such as the Chicago Mercantile Exchange; the fund employs an active rolling strategy to optimize performance and seeks to outperform spot bitcoin by selectively managing futures contract rolls; it also holds U.S. Treasuries, cash equivalents, and other short-term fixed income instruments including mortgage-backed securities issued or guaranteed by U.S. government agencies, municipal debt securities, and sovereign debt obligations for collateral and liquidity purposes. Formed on November 13, 2023, and domiciled in the United States, ARKA is part of the EA Series Trust, launched and managed by Empowered Funds, LLC with co-management by ARK Investment Management LLC and 21Shares US LLC, an affiliate of Swiss-based 21Shares AG; the ETF operates within the cryptocurrency derivatives segment, targeting institutional and retail investors seeking capital appreciation from bitcoin price movements without direct spot ownership. Geographically focused on U.S. markets with global bitcoin futures exposure, ARKA trades on major U.S. exchanges and maintains a net expense ratio of 0.70%. In a significant recent development, the fund faces liquidation on or around September 26, 2025, as announced by Empowered Funds due to strategic review amid evolving digital assets market conditions, with the last trading day set for September 25, 2025; this follows routine operations since inception, including active portfolio management by Andres Valencia since launch and Jad Ali joining in November 2024.