ARK Invest has filed with U.S. regulators to launch two new crypto index ETFs tied to the CoinDesk 20, including one product designed to exclude bitcoin.

The asset management firm led by Cathie Wood is seeking approval for the pair of exchange-traded funds that would track the CoinDesk 20, a benchmark covering some of the most liquid digital assets, such as bitcoin, ether, solana, XRP and cardano.

Instead of holding cryptocurrencies directly, both proposed ETFs would use cash-settled, regulated futures contracts to mirror the index’s daily performance. One fund would aim to replicate the full CoinDesk 20, while the second would track the same benchmark without bitcoin by pairing long positions in index futures with short bitcoin futures.

The products are intended to offer investors diversified exposure to crypto markets without the complexity of custody or direct ownership of digital tokens. The ETFs would list on NYSE Arca, though the exchange has yet to submit a required 19b-4 filing with the U.S. Securities and Exchange Commission, which is necessary to formally initiate the approval process.

ARK’s filings follow similar proposals from asset managers such as WisdomTree and ProShares, which have also sought to launch crypto index ETFs using regulated futures. None of those products have yet received regulatory approval, leaving a gap in the market for diversified crypto ETF offerings.

Already active in the spot bitcoin ETF space, ARK’s latest move signals a broader effort to provide investors with access to a wider range of digital assets.