Empowered Funds has applied to launch three Bitcoin futures ETFs, which will use 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.

The ETF can allocate up to 80% of its assets to Bitcoin futures ETFs or other assets, and up to 20% of its assets to cash or cash equivalents (such as Treasuries) and real estate investment trusts. Although the ETF will use the 21Shares and Ark brands, these two companies will respectively serve as the deputy advisor and deputy deputy advisor to the fund. 

 According to data from Morningstar Direct as of July 31, Empowered Funds' parent company Alpha Architect has provided 15 ETFs with total assets of $1.9 billion. In the past year as of that date, investors have invested $717 million in these funds.